Latest Currency News Continued - page 5

The Pound to Euro exchange rate (GBP/EUR) briefly dipped to 1.1685 after the latest inflation data before a recovery to 1.1710. ING expects Thursday’s Bank of England decision will be crucial in determining whether GBP/EUR can attack 1.1765 resistance. The slightly lower-than-expected inflation data nudged markets towards a Bank of England interest rate cut in June rather than August. A lack of overall volatility in...

The Pound to Yen exchange rate (GBP/JPY) spiked higher after the Bank of Japan policy decision and came close to 8-year highs above 191.00 before settling around 190.85. The Pound to Euro (GBP/EUR) exchange rate has remained in tight ranges and traded just below 1.1700 in early Europe. Markets will now be looking at the UK data and Bank of England (BoE) policy decision this week. The Bank of Japan ended the policy of...

The Pound has been unable to make headway against major currencies on Tuesday and will be vulnerable to further losses if Wednesday’s UK inflation data is weaker than expected. The dollar has also held a firm tone with the currency index strengthening to 2-week highs. In this environment, the Pound to Dollar (GBP/USD) exchange rate dipped to 2-week lows just below 1.2670 before recovering to near 1.2700. Overall...

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 policy meeting. COT data released by the CFTC reported an increase in long,...

Currency exchange strategists at ING see scope for the Pound to Dollar exchange rate (GBP/USD) to advance to 1.30 at the end of 2024 as the dollar loses ground. RBC Capital Markets expects a retreat to 1.24 as the Pound is unable to make any headway. Federal Reserve (Fed) and Bank of England (BoE) policy decisions will be crucial in the week ahead. Markets will also be looking at the latest UK inflation...

Foreign exchange analysts at RBC Capital Markets expect to see a Pound Sterling retreat to 1.15 at the end of 2024 and forecasts a major slide to 1.06 at the end of 2025. BNP Paribas, however, expects that the Pound to Euro exchange rate (GBP/EUR) will strengthen to 1.21 at the end of 2024 and hold the gains until the end of 2025. According to BNP there is scope for optimism surrounding UK fundamentals; “Our analysis...

The Pound to Dollar exchange rate (GBP/USD) edged higher to 1.2820 ahead of the New York open before drifting lower. GBP/USD retreated further to 1.2760 after the US data releases as markets continued to fret over US inflation trends. The overall market moves were still relatively limited with markets focussing on the Federal Reserve and Bank of England policy meetings next week. Neither central bank is expected to...

The Pound to Euro exchange rate (GBP/EUR) again found support below 1.1700 on Wednesday and moved back above 1.1700 to trade just above this level on Thursday. Global markets conditions have been favourable for the Pound with low volatility and net gains in equities as the UK FTSE 100 index posted a 7-month high. According to MUFG; “The ongoing drop in foreign exchange market volatility is reinforcing favourable...

The Pound to Dollar exchange rate (GBP/USD) found support close to 1.2750 on Tuesday and rallied to test the 1.2800 level and traded close to this level on Wednesday. The dollar was resilient while the Pound was supported by firm risk conditions with the UK FTSE 100 index looking to build on Tuesday’s 1.0% gains. A break above 1.2815/20 is needed to underpin the case for short-term GBP/USD gains towards 1.30. Bank...

The Pound to Euro (GBP/EUR) exchange rate has found support just below 1.17 and edged above this level after the UK GDP data. The Pound and Euro have both benefitted from robust risk conditions with the US S&P 500 index posted a fresh record high overnight while several European bourses have also posted record highs. Apart from gains in equities, there have been no major Euro-Zone developments over the past 24...