Currency News: UK daily forex news and forecasts

GBP/NZD Exchange Rate Falls despite Rising RBNZ Rate Cut Fears The Pound New Zealand Dollar (GBP/NZD) exchange rate fell today and is currently trading around NZ$1.9295 on the interbank market. The New Zealand Dollar (NZD) exchange rate rose following last night’s publication of the NZ GDP figures for the first quarter, with the quarterly figures increasing by 0.6%. Annual GDP figures, however, rose above the forecast...

US Dollar (USD) Exchange Rates Sink on Dovish Fed Signals The US Dollar (USD) remains in retreat against the Pound (GBP) and the majority of its other peers this morning following the Federal Reserve’s policy decision on Wednesday. While the Fed kept rates on hold this month as expected the US Dollar was driven lower as the US central bank signalled that is prepared to reserve some of last year’s rate hikes. After...

Despite the Bank of Japan (BoJ) also warning of mounting global risks, the US Dollar to Japanese Yen (USD/JPY) exchange rate has tumbled to its worst levels since January this week due largely to Central Bank speculation. Rising bets that the Federal Reserve will cut US interest rates next month are keeping the pair under pressure, despite speculation that the Bank of Japan could also loosen Japan’s monetary policy over the next...

Euro Pound (EUR/GBP) Exchange Rate Falls as EU and Italy Clash The Euro Pound Sterling (EUR/GBP) exchange rate edged lower and the pairing is currently trading at an inter-bank rate of £0.8892. On Wednesday reports suggested that the Italian government will try to change the European Union’s fiscal rules. Italy will try to allow more room for investments by reducing the role of ‘structural’ budget deficits. The...

GBP/ZAR Exchange Rate Increases as SA Inflation Holds in SARB’s Target Range The Pound South African Rand (GBP/ZAR) exchange rate rose today and is currently trading around R18.2959 on the interbank market. The South African Rand (ZAR) sank against Sterling despite better-than-expected annual SA Consumer Price Index (CPI) figures for May, which rose above the consensus 4.4% to 4.5%. Monthly CPI figures for May also rose...

Due to persisting market concerns that the Federal Reserve may not be as dovish as expected, investors were hesitant to keep buying the trade-correlated Australian Dollar and the British Pound to Australian Dollar (GBP/AUD) exchange rate rebounded from its weekly lows today. This was despite a lack of notable support for the Pound. Despite the Australian Dollar’s recent weakness, GBP/AUD has trended with a downside bias this...

Despite South Africa’s recent political uncertainties and growth fears, the British Pound to South African Rand (GBP/ZAR) exchange rate plummeted today. Signs that major Central Banks were planning interest rate cuts while the South African Reserve Bank (SARB) would likely not cut rates much made it easier for the South African Rand to capitalise on the Pound’s latest Brexit-inspired weakness. Recovering from its recent...

GBP/AUD Exchange Rate Sinks despite Dovish RBA Stance The Pound Australian Dollar (GBP/AUD) exchange rate is down today and is currently trading around AU$1.824 on the interbank market. The Australian Dollar (AUD) rose against the Pound (GBP) despite the disappointing Australian House Price Index figures for the first quarter, which fell below the forecast 1.6% to -3.0%. Bruce Hockman, a Chief Economist at Australian...

Investors bought the Euro to US Dollar (EUR/USD) exchange rate back up from the lows it saw over the weekend today, as markets reacted to some disappointing US data. The pair’s potential for gains was limited though, amid Eurozone inflation concerns and anticipation for upcoming Federal Reserve news. Eurozone economic concerns and some strong US data saw EUR/USD tumble from 1.1340 to around 1.1230 last week, and the pair...

Pound Canadian Dollar (GBP/CAD) Exchange Rate Muted as Tensions in the Middle East Increase The Pound Sterling Canadian Dollar (GBP/CAD) exchange rate remained flat and the pairing is currently trading at an inter-bank rate of CA$1.6877. On Monday, oil prices fell as international trade tensions overshadowed last week’s attacks on oil tankers in the Gulf of Oman. Last week saw oil prices sent higher as supply fears...