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A round up of the latest Pound Sterling forecast news items from the Currency News desk.

Pound Sterling Today: Traders Prepare for Seismic UK, French and US Elections

4 Jul 2024 at 3 PM - Written by David Woodsmith

STORY LINK Pound Sterling Today: Traders Prepare for Seismic UK, French and US Elections

The Pound to Dollar exchange rate is trading close to 3-week highs ahead of major economic and political developments on both sides of the Atlantic. After the weekend, there will be a new UK government and the possibility of a new US Democrat Presidential candidate which will cause a major shift in political dynamics. UoB commented;...

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BoE and Pound Sterling Outlook: Odds of an August Cut Increase to 60%

21 Jun 2024 at 7 AM - Written by David Woodsmith

STORY LINK BoE and Pound Sterling Outlook: Odds of an August Cut Increase to 60%

The BoE kept rates on hold as expected. While there was no commitment to a cut in August, the tone was dovish and markets are now 60% pricing it in. Elsewhere, the SNB surprised markets by making a second cut in a row. Thursday’s session brought two major central bank meetings from the Bank of England and the Swiss National Bank....

CATEGORIES: Pound Sterling Forecasts

Pound Sterling Retreats vs Euro, Dollar as August Rate Cut Seen Likely

21 Jun 2024 at 7 AM - Written by John Cameron

STORY LINK Pound Sterling Retreats vs Euro, Dollar as August Rate Cut Seen Likely

The Pound lost ground on Thursday as Bank of England (BoE) rhetoric increased market bets on an August rate cut. The Pound to Dollar (GBP/USD) exchange rate dipped to 1.2680 and not far above 5-week lows while the Pound to Euro (GBP/EUR) exchange rate retreated to 1.1830 from earlier highs above 1.1850. Solid risks conditions...

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Pound Sterling Resilient vs Euro and Dollar Despite Cooling Labour Market

11 Jun 2024 at 3 PM - Written by John Cameron

STORY LINK Pound Sterling Resilient vs Euro and Dollar Despite Cooling Labour Market

There was a muted reaction to the mixed UK labour-market data, but markets considered that an August Bank of England (BoE) rate hike was slightly more likely. The Pound edged lower, but the Pound to Dollar (GBP/USD) exchange rate held above June lows below 1.2700 and traded around 1.2725. Activity is likely to be relatively limited...

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Pound Sterling Resilient vs Euro Despite Firm US Dollar

31 May 2024 at 9 AM - Written by John Cameron

STORY LINK Pound Sterling Resilient vs Euro Despite Firm US Dollar

The Pound to Dollar exchange rate (GBP/USD) steadily lost ground on Wednesday and dipped below the 1.2700 level with lows at 1.2680 on Thursday. There was a recovery to 1.2715 in Europe and the Pound was broadly resilient given external headwinds. The dollar posted significant gains, underpinned to an important extent by losses in...

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Pound Sterling Outlook: Tensions Building Ahead of Next Week’s Crucial Inflation Data

19 May 2024 at 9 AM - Written by John Cameron

STORY LINK Pound Sterling Outlook: Tensions Building Ahead of Next Week’s Crucial Inflation Data

The dollar overall recovered ground on Thursday with a sense that markets may have overreacted to Wednesday’s US inflation data. From the Pound's perspective, tensions were building ahead of next week’s crucial inflation data. The Pound to Dollar (GBP/USD) exchange rate hit fresh 5-week highs at 12700 in Asia on Thursday before...

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Pound Sterling: UK Economy Back to Growth with an Impressive Rebound in GDP

12 May 2024 at 10 AM - Written by John Cameron

STORY LINK Pound Sterling: UK Economy Back to Growth with an Impressive Rebound in GDP

The UK economy grew by 0.6% in Q1. This follows on from two quarters of contraction. Real wage growth is a positive for the economy. The FTSE is rallying strongly while the pound remains stable. Friday caps a busy week for UK markets with the release of GDP data. This showed Britain has convincingly shifted away from the...

CATEGORIES: Pound Sterling Forecasts

Bank of England: "BoE is setting the stage for a summer rate cut" say HSBC

10 May 2024 at 5 AM - Written by John Cameron

STORY LINK Bank of England: "BoE is setting the stage for a summer rate cut" say HSBC

Part 2 of our post-Bank of England analysis continues (read part on here) HSBC Director of Investment Strategy Hussain Mehdi added; "We believe the BoE is setting the stage for a summer rate cut. Disinflation is progressing and the labour market continues to cool. However, the question is, do they go as soon as next month in line with...

CATEGORIES: Pound Sterling Forecasts

BoE Analysis: Rate Cuts Coming, but Pound Sterling Pares Losses

9 May 2024 at 5 PM - Written by John Cameron

STORY LINK BoE Analysis: Rate Cuts Coming, but Pound Sterling Pares Losses

The Bank of England (BoE) Monetary Policy Committee (MPC) held interest rates at 5.25%, in line with consensus forecasts. A 7-2 vote and lower inflation forecasts boosted market expectations of a June rate which undermined the Pound, although it recovered from initial lows. The Pound to Dollar (GBP/USD) exchange rate dipped below...

CATEGORIES: Pound Sterling Forecasts

UK Housing Recovery Stalls, Pound Sterling Waits for BoE Rate Decision

9 May 2024 at 8 AM - Written by John Cameron

STORY LINK UK Housing Recovery Stalls, Pound Sterling Waits for BoE Rate Decision

The Pound has maintained a soft tone in currency markets with expectations of a dovish tone by the Bank of England (BoE) in Thursday’s policy decision. There will inevitably be a spike in volatility following the decision with BoE guidance crucial. The Pound to Dollar (GBP/USD) exchange rate hit lows just below 1.2470 on...

CATEGORIES: Pound Sterling Forecasts

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