Dollar Pound forecast - USD GBP

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...

The New Zealand dollar lost ground on Monday with a significant element of position adjustment ahead of Wednesday’s Reserve Bank of New Zealand (RBNZ) policy decision. The New Zealand dollar to US dollar (NZD/USD) exchange rate retreated to 0.6175 after failing to bear 0.6200 while the Pound to New Zealand dollar (GBP/NZD) exchange rate...

Bank of Canada Drops Talk of Higher Interest Rates, GBP/CAD Exchange Rate Hits 7-Week Highs The Bank of Canada held interest rates at 5.00% following the latest council meeting, in line with consensus forecasts. The bank provided no clear guidance on rates, but the Canadian dollar lost ground as the bank statement dropped references...

China Hopes Rescue the New Zealand Dollar, GBP/NZD Exchange Rate Retreats from 2-Month Highs The New Zealand dollar initially remained under pressure on Tuesday amid another round of disappointing economic data and rate-cut speculation. Reports that the Chinese authorities were set to launch a support package for Chinese equities...

The Canadian dollar (CAD) was undermined by a weaker Bank of Canada (BoC) survey on Monday with businesses reporting increased recession risks. The Pound to Dollar (GBP/CAD) exchange rate strengthened to 1-month highs at 1.7120 before settling just above 1.7100. The US Dollar to Canadian dollar (USD/CAD) Exchange rate advanced to near...

GBP/CAD Exchange Rate Dips to 5-Week Lows Higher oil prices helped underpin the Canadian dollar on Monday and markets remain confident over Federal Reserve rate cuts in the first half of 2024. The US Dollar to Canadian dollar (USD/CAD) exchange rate dipped to 4-month lows at 1.3350 before a recovery to 1.3400. The Pound to Canadian...

US Dollar Resilient Despite Weak US Jobs Growth, GBP/USD Exchange Rate Held Close to 10-Day Lows The latest US data continued to point to a slowdown in the labour market and bond yields declined. The Pound, however, was unable to make headway, especially with weak UK data and Bank of England concerns over UK credit dynamics. The...

GBP/USD Exchange Rate Slides on Dollar Revival and UK Growth Forecast Disappointment The pound-to-dollar (GBP/USD) exchange rate peaked at 1.2550 ahead of the Autumn Statement, but failed to hold the gains. Weak UK growth forecasts undermined the Pound while stronger than expected US data helped trigger a further dollar recovery...

Hawkish comments from Bank of England officials and expectations of tax cuts have boosted the Pound on Tuesday. The Canadian inflation data had a measured impact, but reinforced expectations that the Bank of Canada would leave rates on hold at the December meeting. The Pound to Canadian dollar (GBP/CAD) inflation rate secured a...

The Australian and New Zealand dollars both benefitted from a surge in risk appetite following the benign US inflation data and the Australian dollar also drew support from the latest wages data. Chinese data releases also triggered an element of optimism surrounding the economic outlook which also underpinned the Australian and New...