Pound Dollar forecast - GBP USD

This morning’s UK inflation numbers showed a greater than anticipated drop in the rate of British price rises last month. The annualised CPI data for April showed a marked pullback in inflation from last month’s 3.5% to 3.0% this month, suggesting that the Bank of England may have scope to increase the £325bn which it has already...

The Pound has performed poorly on the day following the release of disappointing UK housing market numbers from Rightmove, which showed that British property prices remained static last month. The UK economy badly needs its housing market to start pushing forward once again in order to kick-start an all-around improvement. At this stage,...

The US Dollar started off the day on the front foot, sending the GBP USD exchange rate downwards towards the 1.5700 level. However, support for the Greenback has ebbed as the session progressed, as North American stocks broke into positive territory, thanks to the positive effect of Facebook’s IPO. Sterling also performed respectably on the...

The US DOLLAR has been the major winner on the day as institutional investors continue to shun equities and move into safe havens. This has taken the GBP USD exchange rate down to 1.5792. There could be further upside to come for the Greenback, as this afternoon’s US labour market data disappointed. This means that the USD heads into...

The Bank of England slashed its forecast for UK growth for this year from 1.2% to 0.8% earlier today, hitting the POUND STERLING. With the UK tender riding high at the top if its recent range against a host of currencies, a broad move to the downside is possible, meaning that GBP heads towards tomorrow’s session on a NEUTRAL TO NEGATIVE...

The POUND STERLING has hit the headlines for all the wrong reasons today. By the middle part of this afternoon’s European session, Sterling was the worst-performing of all of the sixteen most-actively traded currencies, thanks to this morning’s weak UK trade balance data. The Pound is expected to trade on a NEUTRAL TO NEGATIVE footing...

The EURO has been downsold once again in the markets today. Market participants have shunned the single currency thanks to concerns over rising Spanish bond yields and ongoing uncertainty regarding the future make-up of Greece’s government. This has taken the GBP EUR exchange rate as high as 1.2555 on the day. The euro is expected to trade...

The European Commission announced earlier today that it expects the eurozone economy to shrink by 0.3% this year, heaping the pressure on the troubled EURO. However, the Spanish government’s announcement that it will be making additional funds available to bolster the liquidity of the debt-burdened state’s retail banks has helped stem the...

The POUND STERLING has experienced a wave of support in the currency markets this afternoon following the Bank of England’s lunchtime announcement that it will be keeping British interest rates on hold and will not be extending the £325bn already allocated to it QE scheme. Better than anticipated UK Industrial Production and Manufacturing...

Yesterday’s afternoon session brought a rare piece of good news for the euro when Alexis Tsipras, the leader of Greece’s extreme left wing Syriza bloc, admitted defeat in his attempt to forge an anti-bail-out coalition government. Tsipras stated that his ‘dream of a left-wing government’ would not be coming to fruition, as talks with...