Currency News: UK daily forex news and forecasts

The Pound Sterling to Australian Dollar (GBP/AUD) exchange rate plunged to its lowest level in two weeks ahead of the bank holiday weekend. March’s NIESR gross domestic product tracker cast a grim shadow over the Pound, with growth found to have contracted -4.8% on the month. Following on the heels of a disappointing -0.1% decline in February’s monthly UK gross domestic product data this left GBP exchange rates under...

Pound Sterling US Dollar (GBP/USD) Exchange Rate Edges Higher as British Economy Stagnates The Pound Sterling US Dollar (GBP/USD) exchange rate edged higher today, leaving the pairing trading at around $1.2417. Sterling rose on Thursday, firming towards a one-week high against the ‘Greenback’ despite the release of disappointing growth data. While GBP has held firm against the Dollar in recent days, recent weakness...

GBP/USD Exchange Rate Rises, US Dollar Struggles as Europe’s Covid-19 Cases Drop The Pound to US Dollar (GBP/USD) exchange rate rose today, with the pairing currently trading around $1.233. The US Dollar (USD) struggled against the Pound (GBP) today as safe-haven demand continues to ebb with Europe showing encouraging signs of easing coronavirus infections. For example, Italy, one of the most affected nations in Europe,...

Pound Sterling Canadian Dollar (GBP/CAD) Exchange Rate Muted as Oil Prices Steady The Pound Sterling Canadian Dollar (GBP/CAD) exchange rate remained flat this morning. This left the pairing trading at around CA$1.7293. The Canadian Dollar remained flat against the Pound as oil prices steadied on Wednesday. Prices were supported by increased hopes that a meeting between OPEC and its allies would result in output cuts....

The Pound’s period of resilience has come to an end for now, as the British Pound to Canadian Dollar (GBP/CAD) exchange rate has fallen. The Canadian Dollar isn’t benefitting as strongly from market risk-sentiment as some other major currencies, but it has been enough to keep pressure on the pair. The Pound’s weakness on domestic political anxiety has also played a part in the pair’s weakness this week so far. An...

GBP/AUD Exchange Rate Falls as ‘Aussie’ Receives Risk-On Boost The Pound to Australian Dollar (GBP/AUD) exchange rate fell by -0.5% today after the ‘Aussie’ benefited from the Reserve Bank of Australia (RBA) leaving its interest rates untouched at a record-low of 0.25%. The pairing is currently trading around AU$1.98. Philip Lowe, the RBA’s Governor, was however dovish in his statement, predicting a rocky road ahead...

Pound Sterling South African Rand (GBP/ZAR) Exchange Rate Falls as Risk Appetite Rises The Pound Sterling South African Rand (GBP/ZAR) exchange rate slumped by around -0.9% on Monday afternoon, trading at around R23.0433. The Pound was able to rebound against a handful of currencies on Monday after suffering some losses overnight following the announcement the Prime Minister had been hospitalised. Boris Johnson had been...

GBP/NZD Exchange Rate Sinks as Easing Covid-19 Cases Boost Risk Appetite The Pound to New Zealand Dollar (GBP/NZD) exchange rate fell by -0.9% today, with the pairing currently trading around NZ$2.07. The New Zealand Dollar (NZD) rose against its peers today because of an upwards surge in risk sentiment, with coronavirus cases leveling off both in Europe and China, while the US faces its ‘peak’ surge this week. Joshua...

EUR/USD Exchange Rate Sinks as Eurozone Economic Outlook Darkens The Euro to US Dollar (EUR/USD) exchange rate fell by -0.4% today after March’s Eurozone composite PMI report fell deeper into contraction territory than previously forecast, with the figure falling from 31.4 to 29.7. The pairing is currently trading around $1.07. Chris Williamson, the Chief Business Economist at HIS Markit, was downbeat in his assessment, and...

Pound Sterling New Zealand Dollar (GBP/NZD) Exchange Rate Rises as Coronavirus Weighs on Risk Appetite The Pound Sterling New Zealand Dollar (GBP/NZD) exchange rate edged around 0.3% higher, with the pairing trading at around NZ$2.1005. The New Zealand Dollar edged slightly lower against a handful of its rivals on Friday as investors await the US jobs data. This afternoon’s US non-farm payrolls will reveal just how bad the...