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

Pound Sterling Continues to Slide vs Euro and Dollar Ahead of Thursday’s BoE Meeting

8 May 2024 at 2 PM - Written by John Cameron

STORY LINK Pound Sterling Continues to Slide vs Euro and Dollar Ahead of Thursday’s BoE Meeting

The pound is the weakest G7 currency in May so far. Meanwhile, the FTSE is showing relative strength and has been making new all-time highs. This indicates the market is anticipating and positioning for a dovish BoE meeting. The bank may signal a cut is likely in June, which could drop the pound even further. Markets are...

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Pound Sterling: Downbeat OECD Outlook Undermines GBP, EUR Below 1.17

2 May 2024 at 9 PM - Written by John Cameron

STORY LINK Pound Sterling: Downbeat OECD Outlook Undermines GBP, EUR Below 1.17

The Pound to Euro exchange rate (GBP/EUR) dipped to lows near 1.1680 in early Europe on Thursday before a recovery to near 1.1700. The Pound was undermined by a downbeat OECD assessment of the UK economy. In its latest update, the OECD downgraded the UK forecasts for this year and next with GDP growth forecast at just 0.4% for 2024...

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Pound to Dollar Rate Secures Net Gain to 1.2370

23 Apr 2024 at 11 AM - Written by David Woodsmith

STORY LINK Pound to Dollar Rate Secures Net Gain to 1.2370

European currencies have recovered some ground on Tuesday with increased optimism that strength in services will lead to a rebound in the economy. Equities have also posted net gains with the FTSE 100 index posting a record high at 8075 before a limited correction. Stronger equities should help underpin the Pound to some extent. In...

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Pound Sterling Today: GBP Gains as UK Inflation Higher than Expected

17 Apr 2024 at 9 AM - Written by Ben Hughes

STORY LINK Pound Sterling Today: GBP Gains as UK Inflation Higher than Expected

St A lull in geopolitics and the Iran/Israel conflict has allowed markets to re-focus on the other main theme – inflation and central bank plans to cut rates. Tuesday’s session brought a raft of central bank speakers and Fed Chair Powell finally admitted a lack of further progress on inflation and a delay to cuts. “The recent...

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Pound Sterling Drops Against Euro and Dollar on Bank of England Dovish Shift

21 Mar 2024 at 4 PM - Written by John Cameron

STORY LINK Pound Sterling Drops Against Euro and Dollar on Bank of England Dovish Shift

The British Pound fell against the Euro, US Dollar and other major currencies on Thursday after the BoE kept rates and communication unchanged. The Pound to Euro exchange rate (GBP/EUR) slipped 0.29% to trade at 1.16667. The Pound to Dollar exchange rate (GBP/USD) plunged near 1% to trend at around 1.2671. However, the two remain...

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Pound Sterling Retreats Against Euro and Dollar as Long Positions Trimmed

19 Mar 2024 at 9 AM - Written by John Cameron

STORY LINK Pound Sterling Retreats Against Euro and Dollar as Long Positions Trimmed

The Pound to Euro exchange rate (GBP/EUR) was unable to make headway on Friday and retreated below the 1.1700 level on Monday to trade around 1.1685. MUFG is still backing a medium-term GBP/EUR move to 1.2085. The Pound has been hampered by speculation that the Bank of England (BoE) will adopt a less hawkish stance at this week’s...

CATEGORIES: Pound Dollar Forecasts Pound Euro Forecasts Pound Sterling Forecasts

Pound Sterling Falls Against Euro and Dollar on Signs UK Jobs Market Cooling

12 Mar 2024 at 9 AM - Written by James Fuller

STORY LINK Pound Sterling Falls Against Euro and Dollar on Signs UK Jobs Market Cooling

Important data came early in Tuesday’s session as the UK Jobs Report was released ahead of the LSE open. This contributed to a large gap higher in the FTSE which opened around 0.85% higher near the 2024 peak of 7748 while the Pound dropped moderately, allowing EUGBP to make further small gains towards 0.855. UK Jobs Report Hot on...

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Pound Sterling and Euro Both Struggle - Foreign Exchange News

5 Feb 2024 at 7 PM - Written by John Cameron

STORY LINK Pound Sterling and Euro Both Struggle - Foreign Exchange News

Foreign exchange update: The Pound to Euro exchange rate (GBPEUR) found support below the 1.1700 level in Asia on Monday and strengthened to near 1.1720 after the European open. Markets overall are more confident over the UK economic outlook and Euro-Zone investor confidence improved in February, but the Pound and Euro have both lost...

CATEGORIES: Euro Forecasts Pound Euro Forecasts Pound Sterling Forecasts

Bank of England Outlook Today: Rates on Hold, Forward Guidance Crucial for Pound Sterling

1 Feb 2024 at 8 AM - Written by Tim Boyer

STORY LINK Bank of England Outlook Today: Rates on Hold, Forward Guidance Crucial for Pound Sterling

The Bank of England (BoE) Monetary Policy Committee (MPC) will announce the latest interest rate decision on Thursday February 1st. There are very strong expectations that interest rates will be held at 5.25% at the meeting. It will be a major surprise if there is a decision to raise or lower interest rates. The rate split and...

CATEGORIES: Pound Sterling Forecasts

Pound Sterling Jump on Upside Inflation Surprise Tempered

18 Jan 2024 at 7 AM - Written by John Cameron

STORY LINK Pound Sterling Jump on Upside Inflation Surprise Tempered

The Pound jumped after the stronger-than-expected UK inflation data with fresh doubts whether a Bank of England (BoE) interest rate cut by May is realistic. The shift in expectations underpinned the Pound, although the impact was offset to some extent by a further retreat in risk appetite as the UK FTSE 100 index posted a 6-week...

CATEGORIES: Pound Sterling Forecasts

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