Currency News: UK daily forex news and forecasts

The Pound to Euro (GBP/EUR) exchange rate found support below 1.19 on Tuesday and has settled around 1.1935, just below the middle of the trading range seen over the past 20 days. Overall risk conditions will be very important in the short term with major global events in focus and the potential for high volatility across asset classes. There will be further strong GBP/EUR selling interest above 1.20. China is set to...

The Pound US Dollar exchange trod water on Wednesday amid a lack of domestic data releases and despite a return to risk-off trading conditions. At the time of writing, GBP/USD was trading at approximately $1.3094, virtually unchanged from the start of Wednesday’s session. The US Dollar (USD) attracted some investor attention on Wednesday despite the lack of economic data releases. The currency's rise was driven by an...

The Pound Euro (GBP/EUR) exchange rate fluctuated on Wednesday as speculation around the UK’s Autumn Budget was met with mixed feelings. At the time of writing, GBP/EUR wobbled around €1.1934, virtually unchanged from its opening level. The British Pound (GBP) experienced mixed trade on Wednesday, as an absence of UK data led investors to focus on the upcoming Autumn Budget. Market participants have been...

Wednesday’s session is mostly flat as the dollar and yields consolidate recent gains. The big move of the day comes from the New Zealand dollar which fell around –1%. This came after the RBNZ cut rates by another 50bps. This was no real surprise to markets, but the bank’s outlook and dovish tone weighed on exhancge rates. Wednesday’s session is flat after an erratic few sessions which saw the S&P500 rally...

Domestically, there are no major data releases until the latest GDP figure on Friday and global developments have dominated the Pound moves this week. The Pound to Dollar (GBP/USD) exchange dipped to 3-week lows at 1.3060 on Monday before a tentative recovery to 1.3090 on Tuesday. Weaker UK equities also curbed potential Pound support. UoB does not expect a near-term test of key support at 1.3000, but added; “The...

The Pound Euro (GBP/EUR) exchange rate traded in a narrow range on Tuesday as Germany published its latest industrial production reading. At the time of writing, the GBP/EUR was trading at around €1.1933, virtually unchanged from Tuesday’s opening levels. The Euro (EUR) rose against most currencies on Tuesday, bolstered by Germany's newest industrial production numbers. The index exceeded market forecasts in...

The Pound to US Dollar (GBP/USD) exchange rate traded in a narrow range on Tuesday morning, hovering just above the three-week low touched on Monday. At the time of writing, GBP/USD was trading around $1.3100, showing little movement from Tuesday’s opening levels. The US Dollar (USD) found some support on Tuesday, benefiting from a risk-averse shift in market sentiment during Asian trading hours. The shift in...

The Pound to Euro (GBP/EUR) exchange rate has consolidated around 1.1950 despite a more fragile risk environment with Pound sentiment holding firm despite weaker equities while the Euro has again been hit by dismal data. The latest COT data, reported by the CFTC, recorded an increase in long Pound positions to near 94,000 contracts from 87,000 the previous week, maintaining the risk that long positions could be liquidated,...

GBP/EUR Exchange Rate Struggles to Hold Above €1.19 The Pound to Euro (GBP/EUR) exchange rate started the week on a negative note as increased speculation regarding the pace of interest rate cuts from the Bank of England (BoE) pressured Sterling sentiment. At the time of writing, GBP/EUR was trading around €1.1925, down roughly 0.2% from Monday’s opening levels. The Pound (GBP) came under renewed selling...

The Pound US Dollar exchange lost ground on Monday as markets awaited several speeches from the Federal Reserve. At the time of writing, GBP/USD traded at approximately $1.3081, down roughly 0.3% from the start of Monday’s session. The US Dollar (USD) saw little movement against most of its counterparts on Monday, with a lack of US economic data releases during the early European trading session leaving the currency...