Latest Currency News Continued - page 3
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Formation of Conservative Minority Government Dents USD GBP Exchange Rate
9 Jun 2017 at 3 PM - Written by Toni Johnson
STORY LINK Formation of Conservative Minority Government Dents USD GBP Exchange Rate
Once the exit polls for the UK general election came in the US Dollar Pound exchange rate saw a sharp uptick overnight.
However, the US Dollar struggled to hold onto its gains against the Pound for long as markets absorbed the implications of a hung parliament.
As Theresa May was quick to form a partnership with the Democratic Unionist Party (DUP) fears of political instability eased somewhat, even though the future of the...
CATEGORIES: Dollar Pound Forecasts
EUR GBP Exchange Rate Favourable during Post-Election Turmoil
9 Jun 2017 at 3 PM - Written by Minesh Chaudhari
STORY LINK EUR GBP Exchange Rate Favourable during Post-Election Turmoil
The Euro’s movement against the Pound today has mainly been determined by GBP fluctuations. Eurozone domestic data has been relatively poor, showing a falling German trade surplus as well as a still-high level of Greek inflation.
Euro traders remain on edge after Thursday’s European Central Bank (ECB) meeting, which failed to remove concerns about future ECB policy.
Although policymakers no longer considered cutting...
CATEGORIES: Euro Forecasts Euro Pound Forecasts
USD EUR Exchange Rate Rallies as ECB Cuts Inflation Forecasts
8 Jun 2017 at 2 PM - Written by Toni Johnson
STORY LINK USD EUR Exchange Rate Rallies as ECB Cuts Inflation Forecasts
The USD EUR exchange rate has advanced by 0.3% today, although there has been little domestic cause for US enthusiasm. As well as rising crude oil stocks lowering oil prices for US exporters, Donald Trump has also been targeted in a potential lawsuit.
The Democratic Party plans to bring the case that Trump could be influenced by foreign governments, if they spend money in his global hotel chains. This news has weakened USD...
CATEGORIES: American Dollar Forecasts Euro Forecasts
GBP CAD Exchange Rate Surges as Oil Prices Collapse
8 Jun 2017 at 1 PM - Written by John Cameron
STORY LINK GBP CAD Exchange Rate Surges as Oil Prices Collapse
The Pound Canadian Dollar (GBP CAD) exchange rate rocketed up nearly two cents yesterday, reaching a two week high following a rout in oil prices.
Crude benchmarks nosedived on Wednesday, falling by up to 5% to a new monthly low following an unexpected rise in US stockpiles, dragging on the Loonie due to the Canadian economy’s reliance on oil exports.
US Shale inventories surprised markets yesterday as data showed that the...
CATEGORIES: Pound Canadian Dollar Forecasts
USD JPY Exchange Rate Tumbles as Markets Brace for Comey Testimony
7 Jun 2017 at 3 PM - Written by James Fuller
STORY LINK USD JPY Exchange Rate Tumbles as Markets Brace for Comey Testimony
The US Dollar Japanese Yen (USD JPY) exchange rate trended lower on Wednesday as investors become increasingly cautious ahead of former FBI Director, James Comey's testimony in front of Congress on Thursday.
Mr Comey, who was fired by President Trump at the start of May, is expected to testify on allegations that Trump attempted to pressure him into halting an investigation into former national security adviser, Michael T....
CATEGORIES: American Dollar Forecasts
GBP to AUD Exchange Rate Tumbles on Impressive Australian Growth Data
7 Jun 2017 at 12 PM - Written by Toni Johnson
STORY LINK GBP to AUD Exchange Rate Tumbles on Impressive Australian Growth Data
Despite investors generally confident in a majority win for the Conservative party in Thursday’s UK general election, uncertainty remains and this has allowed the Australian Dollar to easily push the Pound down this week.
Due to strong Australian data and an optimistic RBA, the GBP/AUD exchange rate had fallen from around 1.7322 to a low of 1.7068 by Wednesday. This was the pair’s lowest level since April.
CATEGORIES: Pound Australian Dollar Forecasts
GBP EUR Exchange Rate Remains Under Pressure in Final Days of UK Election Campaign
6 Jun 2017 at 2 PM - Written by Frank Davies
STORY LINK GBP EUR Exchange Rate Remains Under Pressure in Final Days of UK Election Campaign
As May’s BRC like-for-like sales data proved discouraging the Pound Euro exchange rate weakened, reversing some of the week’s earlier gains.
Confidence in the Pound remains somewhat limited ahead of Thursday’s general election, even though the odds continue to favour a Conservative victory.
With opinion polls still pointing towards a narrowing of the Conservative lead over Labour, however, the prospect of a hung...
CATEGORIES: Pound Euro Forecasts
GBP to USD Exchange Rate Benefits from Bets of Conservative Win
6 Jun 2017 at 12 PM - Written by John Cameron
STORY LINK GBP to USD Exchange Rate Benefits from Bets of Conservative Win
Forex markets continue to be generally confident that the Conservative party will win a comfortable majority in this week’s upcoming UK general election, which has helped the Pound to US Dollar exchange rate to strengthen.
After a brief dip to 1.2857 on Monday morning, GBP/USD has advanced and on Tuesday morning the pair touched on a high of 1.2943. This was the pair’s best level in almost two weeks.
A poll published by...
CATEGORIES: Pound Dollar Forecasts
GBP NZD Exchange Rate Trends Higher Despite Slowing UK Services PMI
5 Jun 2017 at 1 PM - Written by Frank Davies
STORY LINK GBP NZD Exchange Rate Trends Higher Despite Slowing UK Services PMI
May’s UK services PMI proved a disappointing start to the week, although not enough to prevent the Pound New Zealand Dollar exchange rate holding onto a modest uptrend.
While the index slowed from 55.8 to 53.8 the sector nevertheless remains in a solid state of growth, even though political uncertainty has weighed on growth in recent weeks.
Election jitters look set to increasingly drag on Sterling with the campaign now in...
CATEGORIES: Pound New Zealand Dollar Forecasts
Strong Construction PMI Not Enough to Boost GBP/INR
2 Jun 2017 at 2 PM - Written by Toni Johnson
STORY LINK Strong Construction PMI Not Enough to Boost GBP/INR
A strong UK construction PMI has been unable to support the Pound Sterling to Indian Rupee exchange rate today.
GBP/INR has declined -0.3% to 82.7830, even though the Markit UK construction PMI for May surprised by leaping to a 17-month high of 56 instead of weakening from 53.1 to 52.7 as expected.
IHS Markit Senior Economist Tim Moore explained;
‘The forward-looking elements of the latest survey are reassuring for the...
CATEGORIES: Pound Rupee Forecasts