Currency News: UK daily forex news and forecasts
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GBP JPY Exchange Rate Trends Higher as Japan Factory Output Reaches 6-Month Low
23 May 2017 at 2 PM - Written by John Cameron
STORY LINK GBP JPY Exchange Rate Trends Higher as Japan Factory Output Reaches 6-Month Low
The Pound Japanese Yen (GBP JPY) exchange rate strengthened this morning as Japan’s manufacturing sector reported a slowdown in May.
According to data published by IHS Markit Japan’s latest Manufacturing PMI tumbled from 52.7 to 52.0 In May, reaching a new six-month low and disappointing some investors who had predicted that activity would rise.
Most notably output slowed in May as both import and export orders grew at a...
CATEGORIES: Daily Currency Updates Japanese Yen Forecasts
USD to EUR Exchange Rate Tumbles on Hawkish Merkel, Strong Eurozone Data
23 May 2017 at 11 AM - Written by Frank Davies
STORY LINK USD to EUR Exchange Rate Tumbles on Hawkish Merkel, Strong Eurozone Data
Demand for the US Dollar has been limp in recent weeks which has led to easy gains for the Euro. As a result, the US Dollar to Euro exchange rate dropped on Monday as the shared currency was bolstered by hawkish comments from German Chancellor Angela Merkel.
Last week saw significant losses for USD/EUR as the pair fell from 0.9149 to 0.8925. The pair has only continued to fall and on Tuesday morning hit a low of 0.8878 – its...
CATEGORIES: Dollar Pound Forecasts Euro Forecasts
GBP EUR Exchange Rate Tumbles as Merkel Decries ‘Weak’ Euro
22 May 2017 at 5 PM - Written by Toni Johnson
STORY LINK GBP EUR Exchange Rate Tumbles as Merkel Decries ‘Weak’ Euro
The Pound Euro (GBP EUR) exchange rate plummeted over half a cent in trade today following comments from German Chancellor Angela Merkel.
In a panel with a group of students at Kurt Tucholsky high school in Berlin today Merkel was discussing building a closer relationship with new French President Emmanuel Macron when she was asked about the trade imbalance between the two largest economies in the Eurozone.
CATEGORIES: Currency Predictions Pound Euro Forecasts
GBP to NOK Exchange Rate Tumbles on UK Election Concerns and Oil Price Strength
22 May 2017 at 2 PM - Written by Frank Davies
STORY LINK GBP to NOK Exchange Rate Tumbles on UK Election Concerns and Oil Price Strength
Recent strong UK data has been unable to keep the British Pound to Norwegian Krone exchange rate buoyed, as the pair plunged last week and continued to tumble when markets opened on Monday morning.
Last week saw the GBP/NOK exchange rate fall from 11.03 to 10.92 after failing to recover in the middle of the week. On Monday morning the pair dropped again, falling to a one-month-low of 10.86.
Sterling dropped last week as strong...
CATEGORIES: Daily Currency Updates Norwegian Krone Forecasts
GBP NZD Exchange Rate Rallies as Industrial Orders Surge
19 May 2017 at 2 PM - Written by Frank Davies
STORY LINK GBP NZD Exchange Rate Rallies as Industrial Orders Surge
The Pound New Zealand Dollar (GBP NZD) exchange rate leapt to a new weekly high this morning as UK factory orders printed higher than expected last month
According to data released by the Confederation of British Industry (CBI) Britain’s industrial orders balance rose from 4 to 9 in April, beating expectations that they would remain unchanged and reaching a new two-year high.
The survey of 432 manufacturers in the UK...
CATEGORIES: Daily Currency Updates Pound New Zealand Dollar Forecasts
GBP/EUR Wobbles around Opening Levels despite Strong Factory Order Growth
19 May 2017 at 12 PM - Written by Minesh Chaudhari
STORY LINK GBP/EUR Wobbles around Opening Levels despite Strong Factory Order Growth
The GBP/EUR exchange rate remains stuck around opening levels of 1.1656 today, with strength in both currencies creating a stalemate.
Data from the Confederation of British Industry (CBI) has shown that factory orders rose at the swiftest pace in May since February 2015, with the balance of the order book index increasing from 4 to 9.
Output growth climbed to the highest seen since December 2013, rising from 22 to 28,...
CATEGORIES: Pound Euro Forecasts
GBP USD Exchange Rate Rockets to Seven-Month High as Retail Sales Surge
18 May 2017 at 2 PM - Written by Ben Hughes
STORY LINK GBP USD Exchange Rate Rockets to Seven-Month High as Retail Sales Surge
The GBP USD exchange rate surged to a new seven-month high this morning as the UK’s retail sales grew faster than expected last month.
The Pound leapt over $1.30 for the first time since early October as data released by the Office for National Statistics (ONS) showed that UK retail sales surged from -1.4% to 2.3% in April, sailing past forecasts that sales would only grow 1.0%.
The ONS attributed the jump to increased...
CATEGORIES: Currency Predictions Dollar Pound Forecasts
GBP to AUD Exchange Rate Surges Despite Strong Australian Employment Data
18 May 2017 at 12 PM - Written by Tim Boyer
STORY LINK GBP to AUD Exchange Rate Surges Despite Strong Australian Employment Data
After volatile movement earlier in the week, the Pound to Australian Dollar exchange rate saw strong surge on Thursday in reaction to Britain’s latest retail sales data. The pair easily pushed higher due to poor risk-sentiment.
GBP/AUD began the week trending at around 1.7440 and fluctuated between 1.7350 and 1.7530 for most of the week until Thursday, when it jumped to a new weekly high of 1.7571.
Britain’s April retail...
CATEGORIES: Australian Dollar Forecasts Currency Predictions
GBP ZAR Exchange Rate Surges on Surprise UK Unemployment Rate Drop
17 May 2017 at 4 PM - Written by James Fuller
STORY LINK GBP ZAR Exchange Rate Surges on Surprise UK Unemployment Rate Drop
The Pound’s significant gains against the Rand come after a mixed UK data release, which brought historically positive and negative results.
On the supportive side, UK unemployment in March dropped from 4.7% to 4.6%, bettering forecasts for no movement. This put unemployment at a historic low, while the percentage of employed persons has been the best on record.
Commenting on the news was Resolution Foundation official...
CATEGORIES: Daily Currency Updates Pound Rand Forecasts
GBP to USD Exchange Rate Benefits from Trump Uncertainty
17 May 2017 at 1 PM - Written by Tim Boyer
STORY LINK GBP to USD Exchange Rate Benefits from Trump Uncertainty
While Sterling has dropped against some other major currencies this week, the Pound to US Dollar exchange rate has advanced. Rising political anxiety in the US has harmed Fed rate hike bets and the appeal of the US Dollar.
Last week saw GBP/USD drop to 1.2886. However, since markets opened this week the pair has trended higher. On Wednesday the pair hit a weekly high of 1.2958.
The Pound outlook has been mixed this week...
CATEGORIES: Daily Currency Updates Dollar Pound Forecasts