Currency News: UK daily forex news and forecasts

After seeing relatively narrow movement for most of the week so far, the British Pound to Swedish Krona (GBP/SEK) exchange rate was knocked yesterday and continued to see notable losses today. The Swedish Krona is benefitting from the Pound’s losses on the latest hard Brexit fears, as today’s Swedish data has been fairly strong. GBP/SEK tumbled last week and could be on track to see yet another week of losses. After opening...

Pound Sterling New Zealand Dollar (GBP/NZD) Exchange Rate Falls Ahead of March Budget The Pound Sterling New Zealand Dollar (GBP/NZD) exchange rate slumped on Thursday, leaving the pairing trading at around NZ$2.0378. The Pound suffered losses today against a handful of currencies as disappointment over March’s UK budget grew. Chancellor Rishi Sunak is unlikely to provide the fiscal stimulus that was expected,...

Yesterday’s plummet in the US Dollar in reaction to Federal Reserve speculation was ultimately short lived, and the British Pound to US Dollar (GBP/USD) exchange rate is once again under pressure today. As Pound investors finally begin to face reality on upcoming Brexit negotiations and Federal Reserve rate cut speculation softens for now, there may even be further losses ahead for the pair. Last week’s bearish GBP/USD...

GBP/NOK Exchange Rate Rangebound, Could Sterling Sink on Brexit Jitters? The Pound to Norwegian Krone (GBP/NOK) exchange rate held at around 12.160kr this morning, with Sterling continuing to benefit from rising fears over the global spread of the coronavirus (Covid-19) as the UK remains relatively unscathed by the epidemic. Paul Meggysei, an analyst at JP Morgan, said that Sterling had continued to ‘perform...

The US Dollar briefly saw a boost on Monday’s safe haven demand, but today the currency fell back, shedding Monday’s gains and making it easier for the British Pound to US Dollar (GBP/USD) exchange rate to advance. As the Pound lacks much drive, the pair is gaining more on coronavirus concerns and US Dollar weakness than any UK news such as data or Brexit developments. Sterling’s movement is mixed this week, but GBP/USD...

GBP/CHF Exchange Rate Rangebound as Coronavirus Fears Hit Switzerland The Pound Swiss Franc (GBP/CHF) exchange rate edged higher by 0.2% today, with the pairing currently trading around 1.268Fr after CHF was hit by rising fears over the spread of coronavirus (Covid-15) in Sweden’s neighbouring country Italy. Margaret Harris, the spokesperson for the World Health Organization, commented: ‘It would not be surprising if...

Amid a lack of notable Brexit developments in recent sessions, the British Pound to US Dollar (GBP/USD) exchange rate has been more easily driven by a strong US Dollar today. Market concerns over the coronavirus returned in full force today, after weekend news showed that the virus had seen a worse spread through Italy than expected. While last week’s UK data was strong, investors had little reason to buy the Pound...

Pound Sterling New Zealand Dollar (GBP/NZD) Muted as Coronavirus Death Toll Nears 2,600 The Pound Sterling New Zealand Dollar (GBP/NZD) exchange rate remained flat, trading at around NZ$2.0404. The New Zealand Dollar remained flat amidst growing concern about the spread of Covid-19 as other countries such as South Korea, Italy and Iran began to battle outbreaks. The outbreaks resulted in lockdowns and travel...

GBP/CHF Exchange Rate Rangebound as Brexit Uncertainty Haunts UK Markets The Pound Swiss Franc (GBP/CHF) exchange rate held steady today, with the pairing currently trading around 1.268fr following the release of the Markit services PMI for February, which fell came in at a strong 53.3, while the manufacturing PMI beat forecasts and rose to 51.9. Tim Moore, the Associate Director at IHS Markit, was upbeat in his analysis,...

This week’s slew of impressive UK ecostats have not been enough to stop the British Pound to US Dollar (GBP/USD) exchange rate from slumping, as Brexit uncertainties persist and the US Dollar sees strong gains in reaction to global growth speculation. Still, strong UK data did help the Pound to recover from its worst levels and the US Dollar rally is running out of steam, so the pair is edging higher today. After opening this...