Latest Currency News Continued - page 6
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Pound Sterling: Battle Lines Drawn, Support vs Euro Below 1.17
15 Mar 2024 at 11 AM - Written by John Cameron
STORY LINK Pound Sterling: Battle Lines Drawn, Support vs Euro Below 1.17
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...
CATEGORIES: Pound Euro Forecasts
Pound to Dollar Rate Near 1.28 on Mixed Sterling Sentiment
13 Mar 2024 at 10 PM - Written by David Woodsmith
STORY LINK Pound to Dollar Rate Near 1.28 on Mixed Sterling Sentiment
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...
CATEGORIES: Pound Dollar Forecasts
Pound to Euro Exchange Rate Consolidates Close to 1.17
13 Mar 2024 at 9 PM - Written by John Cameron
STORY LINK Pound to Euro Exchange Rate Consolidates Close to 1.17
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...
CATEGORIES: Pound Euro Forecasts
Pound Sterling Hurt by Softer UK Wages and Higher US Inflation Data
13 Mar 2024 at 10 AM - Written by David Woodsmith
STORY LINK Pound Sterling Hurt by Softer UK Wages and Higher US Inflation Data
The Pound to Dollar exchange rate (GBP/USD) lost the 1.2800 level after the UK wages data and dipped further after stronger than expected US consumer prices data. GBP/USD dipped to near 1.2750 in immediate reaction to the data and after a brief recovery, there was a further test of 1.2750 after the Wall Street open with choppy trading conditions. The dollar overall was significantly higher after the data and GBP/USD will...
CATEGORIES: Pound Dollar Forecasts
GBP/USD Attempts to Regain 1.2800
13 Mar 2024 at 10 AM - Written by Frank Davies
STORY LINK GBP/USD Attempts to Regain 1.2800
The dollar spiked higher in immediate reaction to the stronger-than-expected consumer prices data, but it failed to hold the gains. The Euro to Dollar (EUR/USD) exchange rate dipped to near 1.09 before a rebound to around 1.0940. After losses following the UK wages data, the Pound to Dollar (GBP/USD) exchange rate also slumped to near 1.2750 before recovering to near 1.2800. There will still be the risk of an adverse...
CATEGORIES: Pound Dollar Forecasts
Pound to Dollar Rate "Dip in Cable Retains a Corrective Look" say Analysts
12 Mar 2024 at 8 PM - Written by David Woodsmith
STORY LINK Pound to Dollar Rate "Dip in Cable Retains a Corrective Look" say Analysts
The Pound to Dollar exchange rate (GBP/USD) lost the 1.2800 level after the UK wages data and dipped further after stronger than expected US consumer prices data. GBP/USD dipped to near 1.2750 in immediate reaction to the data and after a brief recovery, there was a further test of 1.2750 after the Wall Street open with choppy trading conditions. The dollar overall was significantly higher after the data and GBP/USD will...
CATEGORIES: Pound Dollar Forecasts
Pound to Euro: Tests 1.1700 as Sterling Pound Retreats UK Wages Slowdown
12 Mar 2024 at 8 PM - Written by John Cameron
STORY LINK Pound to Euro: Tests 1.1700 as Sterling Pound Retreats UK Wages Slowdown
The Pound Sterling retreated on Tuesday after slightly softer than expected UK labour-market data with markets slightly more confident over a Bank of England (BoE) rate cut by August. The Pound to Euro (GBP/EUR) exchange rate retreated to test 1.1700 from Monday highs at 1.1750 and further away from key resistance at 1.1765. The Pound did secure some protection from gains in UK equities with a 0.8% advance for the FTSE...
CATEGORIES: Pound Euro 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 the heels of a mixed US Jobs report, the UK releases showed some similar cooling. The...
CATEGORIES: Pound Sterling Forecasts
Pound to Euro Week Ahead Forecast: Can Three-Week Best Hold for Buyers?
10 Mar 2024 at 2 PM - Written by John Cameron
STORY LINK Pound to Euro Week Ahead Forecast: Can Three-Week Best Hold for Buyers?
Foreign exchange analysts at CIBC expect the Pound to Euro exchange rate (GBP/EUR) to strengthen to 1.19 at the end of the second quarter. MUFG expects risk conditions will be important; “the current favourable low volatility market conditions for carry trades that favour the pound more than the euro.” GBP/EUR was unable to make any headway early in the week, but strengthened to 3-week highs just above 1.1750 on...
CATEGORIES: Pound Euro Forecasts
Pound to Dollar Week Ahead Forecast: Buy the Dip
10 Mar 2024 at 2 PM - Written by David Woodsmith
STORY LINK Pound to Dollar Week Ahead Forecast: Buy the Dip
Goldman Sachs expects that the Bank of England, Federal Reserve and ECB will all cut rates in June with the Pound to Dollar exchange rate (GBP/USD) strengthening to 1.35 on a 12-month view. According to HSBC the Pound will eventually lose ground; “We think that the main driver of the likely weakness for the GBP is the slow but clear pivot by the BoE towards a more dovish stance.” The Pound to Dollar (GBP/USD)...
CATEGORIES: Pound Dollar Forecasts