Latest Articles by Ben Hughes

The most recent currency news items written by author Ben Hughes.

GBP USD Exchange Rate Rockets to Seven-Month High as Retail Sales Surge

18 May 2017 at 2 PM - Written by Ben Hughes

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...

CATEGORIES: Currency Predictions Dollar Pound Forecasts

Indian Finance Minister’s Confidence in Economy Undermines GBP/INR

12 May 2017 at 4 PM - Written by Ben Hughes

Indian Finance Minister’s Confidence in Economy Undermines GBP/INR
A lack of UK data, coupled with a positive outlook for the Indian economy and monetary policy, has pushed the Pound Sterling to Indian Rupee exchange rate down -0.2% to 82.7830. The UK data docket has been entirely empty today, giving markets nothing to distract them from yesterday’s poor data and disappointing developments from the Bank...

CATEGORIES: Pound Rupee Forecasts

GBP to USD Exchange Rate Benefits from Trump Jitters

10 May 2017 at 12 PM - Written by Ben Hughes

GBP to USD Exchange Rate Benefits from Trump Jitters
After slipping earlier in the week, the Pound to US Dollar exchange rate began to recover on Tuesday evening and Wednesday as investors reacted with shock to news that US President Donald Trump had fired the Director of the FBI. Despite recovery from its weekly lows, GBP/USD continues to trend below the week’s opening levels. GBP/USD...

CATEGORIES: Dollar Pound Forecasts

GBP NZD Exchange Rate Slumps on Fresh Fears of Hard Brexit

8 May 2017 at 4 PM - Written by Ben Hughes

GBP NZD Exchange Rate Slumps on Fresh Fears of Hard Brexit
Sterling has traded at 1.87 against the New Zealand Dollar, down from a rate of 1.88 on May 7th. The only UK economic news on Monday has covered house prices; the Halifax price index reprinted growth on the year but showed no monthly change. More impactful has been the French Presidential election, which concluded with a landslide...

CATEGORIES: Currency Predictions Pound New Zealand Dollar Forecasts

GBP to USD Exchange Rate Near 7-Month Highs ahead of Key ‘Obamacare’ Repeal Vote

4 May 2017 at 1 PM - Written by Ben Hughes

GBP to USD Exchange Rate Near 7-Month Highs ahead of Key ‘Obamacare’ Repeal Vote
Sterling-supportive news has been the UK services PMI for April. As with manufacturing and construction PMIs this week, the services result has risen instead of falling as forecast. Elsewhere, new car sales in April plummeted on the year by nearly -20%, though this was attributable to a recent change in vehicle excise duty (VED). The...

CATEGORIES: Daily Currency Updates Dollar Pound Forecasts

EUR/USD Sluggish despite Greek Bailout Deal Breakthrough

2 May 2017 at 1 PM - Written by Ben Hughes

EUR/USD Sluggish despite Greek Bailout Deal Breakthrough
The Euro to US Dollar exchange rate is stuck around opening levels today, despite positive data and developments from the Eurozone. The finalised Markit manufacturing PMIs have confirmed that the economic recovery in the Eurozone continued to strengthen in April, with growth in factory activity accelerating to a six-year high. Apart...

CATEGORIES: Euro Forecasts

Record Low UK Deficit Triggers GBP CAD Advance

25 Apr 2017 at 10 AM - Written by Ben Hughes

Record Low UK Deficit Triggers GBP CAD Advance
Sterling’s rise against the Canadian Dollar today has partly come from UK borrowing data, which has shown the annual deficit fall to the lowest since the 2007-08 financial crisis. Monthly data has been less positive, with March’s deficit hitting -5.1bn instead of the forecast -3bn. Canadian economic anxiety has also aided the GBP...

CATEGORIES: Pound Canadian Dollar Forecasts

GBP USD Exchange Rate Ticks Up on US Uncertainty over Taxes

24 Apr 2017 at 2 PM - Written by Ben Hughes

GBP USD Exchange Rate Ticks Up on US Uncertainty over Taxes
The Pound’s small advance against the US Dollar today follows a Confederation of British Industry (CBI) report on manufacturing and business optimism. The CBI’s data shows manufacturing orders to be growing at their fastest pace in six years, while orders from outside the European Union were the highest ever. The cloud to the silver...

CATEGORIES: Currency Predictions Pound Dollar Forecasts

EUR to GBP Exchange Rate Surges on Macron’s First Round French Election Win

24 Apr 2017 at 10 AM - Written by Ben Hughes

EUR to GBP Exchange Rate Surges on Macron’s First Round French Election Win
When markets opened on Monday morning, the Euro surged as investors scrambled to buy it following the results of Sunday’s French vote. The first round of France’s Presidential election ended with pro-EU Emmanuel Macron in first, giving the Euro to British Pound exchange rate a huge boost. EUR/GBP plunged from 0.8474 to 0.8368 last...

CATEGORIES: Currency Predictions Euro Pound Forecasts

GBP INR Exchange Rate Volatility Forecast on UK Retail Sales Data

20 Apr 2017 at 5 PM - Written by Ben Hughes

GBP INR Exchange Rate Volatility Forecast on UK Retail Sales Data
Markets have continued to bet on the prospect of the Conservatives returning to power with a larger majority in the June general election, keeping the Pound Indian Rupee (GBP INR) exchange rate on a stronger footing. There are hopes that Theresa May would have the freedom to push for a softer Brexit if the influence of Eurosceptic...

CATEGORIES: Currency Predictions Pound Rupee Forecasts