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Currency News: UK daily forex news and forecasts

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Euro to Dollar Rate Resilient Despite ECB Rate Cut, USD Confidence Depressed

17 Apr 2025 at 4 PM - Written by David Woodsmith

The Euro (EUR) dipped against the US Dollar (USD) in immediate reaction to the ECB policy decision, but there was resilience on dips and traded around 1.1365 from 1.1335 lows. According to ING; “We retain a tactical target at 1.15 in EUR/USD, with risks of even larger gains.” The bank does expect a EURUSD exchange rate retreat later in the second quarter. Scotiabank commented; “EUR/USD continues to be bound...

CATEGORIES: Euro Dollar Forecasts

Pound Sterling to Euro Forecast: ECB Upside, "EUR Looking Overvalued vs USD, GBP, JPY"

17 Apr 2025 at 4 PM - Written by Frank Davies

After finding support close to 1.1600, the Pound to Euro exchange rate strengthened to just above 1.1660 GBPEUR after the ECB expressed concerns surrounding the Euro-Zone growth outlook, although the Euro pulled away from initial lows. Commerzbank commented; “given the factors that argue against a hawkish surprise, the risks are likely to be skewed towards a weaker euro." ING expects solid GBP/EUR exchange rate selling...

CATEGORIES: Currency Predictions Pound Euro Forecasts

GBP/USD Forecast: Pound Looks to be Overbought Against Dollar

17 Apr 2025 at 11 AM - Written by David Woodsmith

After hitting 6-month highs close to 1.3300, the Pound to Dollar exchange rate dipped to test 1.3200 before rebounding to 1.3240. US equities posted sharp losses on Wednesday before a tentative rebound in futures on Thursday. Scotiabank noted that the Pound is looking overbought but added; “We look to near-term resistance around 1.33, and beyond that, the September high around 1.34. Near-term support is expected...

CATEGORIES: Pound Dollar Forecasts

Pound-to-Euro Rate Slips as UK Inflation Misses Forecasts

17 Apr 2025 at 8 AM - Written by Frank Davies

The Pound to Euro exchange rate fell back on Wednesday as cooler-than-expected UK inflation and a risk-off market mood both weighed on the pairing. GBP/EUR traded at 1.16437 (+0.28%) at the time of updating this report. Pound Sterling (GBP) faced headwinds on Wednesday, slipping against its stronger counterparts following the UK’s latest inflation report. March’s consumer price index revealed that price pressures...

CATEGORIES: Pound Euro Forecasts

Pound to Dollar LIVE: 7th Consecutive Daily GBP Gain, "Momentum Remains Bullish"

16 Apr 2025 at 3 PM - Written by David Woodsmith

The Pound to Dollar exchange rate rallied on Wednesday, striking a new multi-month high at 1.32679 amid mounting uncertainty over US trade policy. According to FX strategists at Scotiabank, "GBPUSD’s gains have extended for a seventh consecutive session and momentum remains bullish with an RSI near the overbought threshold at 70." Looking ahead, with notable UK and US economic data in short supply, GBP/USD movement is...

CATEGORIES: Pound Dollar Forecasts

Pound to Euro Forecast: "GBP to Underperform EUR as Dollar Weakens"

16 Apr 2025 at 11 AM - Written by James Fuller

The Pound to Euro exchange rate has stalled a fresh round of demand for safe-haven assets. GBPEUR was quoted at 1.16747 as risk conditions dominated the Pound Sterling on Wednesday, even though the latest UK inflation data did nudge the currency lower. Market confidence dipped again following the warning from Nvidia that it faced $5.5bn in additional costs due to US Administration export controls to China on H20...

CATEGORIES: Pound Euro Forecasts

Euro to Pound Rate Trading 0.85-0.87 Range as CPI Drops Temporarily

16 Apr 2025 at 10 AM - Written by Ben Hughes

Employment data and inflation data were released in the UK this week. Neither had a lasting impact on markets. CPI was lower but is likely to rise again later this year. EURGBP is trading near 0.85 support after briefly exceeding 0.87 last week. Stock markets have dropped overnight on Wednesday as US tech heavyweight Nvidia (NVDA) revealed it was ordered to halt exports of its H2O chip to China. The U.S. government...

CATEGORIES: Euro Pound Forecasts

Pound-to-Dollar Rate Now Pushing to 1.34, Sterling's 2024 Best in Sights

16 Apr 2025 at 10 AM - Written by Frank Davies

The US Dollar has been back under pressure in Asia overnight with fresh unease over US-China trade wars and renewed selling in equities. The Pound to Dollar exchange rate (GBP/USD) surged again to fresh 6-month highs close to 1.3290 and held firm despite a slightly softer-than-expected UK inflation reading. According to ING; “GBP/USD is dominated by the soft dollar story and has last year's highs of 1.3430 in its...

CATEGORIES: Pound Dollar Forecasts

Pound to Dollar Forecast: Scope for GBP/USD Gains to 1.3290 say UoB

16 Apr 2025 at 6 AM - Written by David Woodsmith

Market fear has eased considerably over the past 24 hours with gains in US equities and bonds. The FTSE 100 index traded 0.9% higher in early trading, maintaining the recovery from last week’s slide. Deutsche Bank commented; “Whilst equities were recovering, arguably a bigger relief for investors was the recovery in the bond market, which eased fears about some sort of serious financial turmoil developing.” The...

CATEGORIES: Currency Predictions Pound Dollar Forecasts

Euro to Dollar Forecast: EUR Dip Buying, as "Deterioration of US Data Likely"

15 Apr 2025 at 11 PM - Written by Tim Boyer

The Euro corrected weaker on Tuesday while the US Dollar struggled to secure more than a slight rebound from 3-year lows posted last week. The Euro to Dollar exchange rate retreated to just below 1.1300. ING commented; “we have observed strong buying interest around 1.1300, and we still think the near-term bias is towards 1.15 rather than 1.12.” According to Scotiabank; “The charts suggest the DXY is...

CATEGORIES: Currency Predictions Euro Dollar Forecasts