Latest Currency News Continued - page 63

GBP/EUR Exchange Rate Rises amid Speech Speculation The Pound to Euro (GBP/EUR) exchange rate strengthened on Monday as investors responded to a speech from Chancellor Jeremy Hunt focusing on changes to the government’s fiscal plan. At time of writing the GBP/EUR exchange rate traded at around €1.1579, which was up roughly 0.7% from Monday’s opening rate. Pound (GBP) Rallies on Hunt’s Emergency Statement The...

GBP/EUR Exchange Rate Falls amid UK Political Jitters The Pound to Euro (GBP/EUR) exchange rate tumbled on Friday amid UK political uncertainty. At time of writing the GBP/EUR exchange rate traded at around €1.1485, which was down roughly 0.7% from Friday’s opening levels. Pound (GBP) Drops amid Truss’s Lacklustre Address The Pound (GBP) was meet by notable selling pressure on Friday following some UK political...

Pound Australian Dollar (GBP/AUD) Exchange Rate Slips as Markets Cool as U-Turn Rumours Swirl The Pound Australian Dollar (GBP/AUD) exchange rate slipped on Friday, as investors held back while waiting on an anticipated U-turn from the UK government regarding their ‘controversial’ mini-budget. The GBP/AUD exchange rate traded at roughly AU$1.7887, a fall of around 0.4% from Friday’s opening rates. Pound (GBP)...

GBP/USD Exchange Rate Firms as GBP Investors Latch on to Government Discussions The Pound to US Dollar (GBP/USD) exchange rate was strengthening on Thursday as it came to light that ‘active’ discussions were being had about scrapping parts of the UK mini-budget. At time of writing the GBP/USD exchange rate traded at around $1.1216, which was roughly up 1% from Thursday’s opening levels. Pound (GBP) Soars as...

Pound (GBP) Under Pressure from Divided Government The Pound (GBP) found modest support on Thursday amid turbulent economic issues compounded by growing unrest within Prime Minister Liz Truss’ Tory party. With growing calls for a general election from the opposition, and even within the Conservatives, political uncertainty could only serve to further weigh on Sterling. With the mood around the Conservatives souring,...

Pound (GBP) Surged Despite GDP Contracting The Pound (GBP) enjoyed a surge in demand on Wednesday despite a myriad of headwinds threatening to sap investor confidence. However, the volatile nature of the Pound could see a slowdown soon. An unexpected contraction in the UK economy for the month of August showed GDP growth shrank by 0.3%. Against forecasts of zero growth, a stagnation, the economy instead edges ever closer to...

Pound (GBP) Muted amid Unconvincing ‘Trussonomics’ The Pound (GBP) failed to muster up much support on Tuesday amid turbulent trading conditions. The Bank of England (BoE) opted to intervene for the second time this week as pension funds call for further assistance. After the mini-budget market meltdown that saw the central bank forced into extending support to calm the wayward markets, the BoE intervened again on...

Pound (GBP) Subdued amid Truss’ Government Reset The Pound (GBP) is struggling for demand today as Prime Minster Liz Truss attempts to repair an increasingly fractious government. With political uncertainty back on the table after a tumultuous campaign trail, Truss is hoping to implement a reset amid flagging support. Investors have been deterred as confidence in the UK government plummeted after Chancellor Kwasi...

GBP/EUR Exchange Rate Muted as German Data Signals Winter Recession The Pound to Euro (GBP/EUR) exchange rate was flat on Friday afternoon as data from earlier in the European session impeded the currency pair’s movement. At time of writing the GBP/EUR exchange rate traded at around €1.1400, which was roughly the same as Friday’s opening levels. Euro (EUR) On the Back Foot as Investors Worry about Troubling German...

Pound Australian Dollar (GBP/AUD) Exchange Rate Rises amid Dreary Australian Forecast The Pound Australian Dollar (GBP/AUD) exchange rate rose on Friday, as the Reserve Bank of Australia’s (RBA) financial stability review, warned of risks to Australia’s economy. The GBP/AUD exchange rate traded at around AU$1.7465, a 0.4% rise from Friday’s opening rates. Australian Dollar (AUD) Suppressed as RBA Review Shows...