Currency News: UK daily forex news and forecasts

Pound to Australian Dollar (GBP/AUD) Exchange Rate Losses Seen on UK Retail Sales Slowdown The Pound (GBP) has fallen in value today, making a loss of -0.3% against the Australian Dollar (AUD). In addition to supportive Australian data causing GBP/AUD exchange rate losses, the Pound has also been devalued by the latest UK retail sales stats. Covering reported sales activity in September, these readings have shown a...

The Pound opened trading against the Japanese Yen at a level of ¥147.1200 on Tuesday, later closing higher around ¥148.1484. This appreciation was brought on by news of a better-than-expected UK wage growth rise in August – the pace of average earnings growth increased despite forecasts for no change. At the time, there was high optimism that this result could increase the chances of a 2019 Bank of England (BoE) interest...

September’s UK consumer price index proved weaker than forecast, leaving the Pound Sterling to Australian Dollar (GBP/AUD) exchange rate on a downtrend on Wednesday. Investors were not impressed to find that the headline annual inflation rate had eased from 2.7% to 2.4% in September, even though this is likely to lead to stronger wage growth. With inflation easing back towards the Bank of England’s (BoE) 2% target the...

Last week opened with the Pound trading at a level of CA$1.6997 on Monday. At the end of the week, the GBP/CAD exchange rate closed down lower in the region of CA$1.7120. GBP/CAD Exchange Rate Steady on Mixed Brexit Forecasts The Pound (GBP) has traded in a narrow range against the Canadian Dollar (CAD) today, with contrasting opinions on Brexit limiting GBP/CAD exchange rate movement. The Irish border is in the...

Wednesday saw the Pound to Japanese Yen exchange rate open in the region of ¥148.6796 and close slightly lower around ¥148.0197. This deprecation was caused by a mixed reception to the UK’s GDP growth rate data – on the plus side, 0.7% growth was reported for the 3-month average to the end of August. Less supportively, however, a flat 0% reading was seen for August on its own; this lacklustre result came alongside...

Market Rout and Trump Criticism Sees GBP/USD Gains The Pound (GBP) has risen against the US Dollar (USD) today after a volatile 24 hours in the financial markets that has seen US equities plunge and bond yields spike. The latest Dollar selloff comes after President Donald Trump criticised the Federal Reserve’s planned series of rate hikes, saying Fed Chair Jerome Powell was ‘making a big mistake’ and calling his...

Tuesday opened with the Pound to Canadian Dollar exchange rate at a level of CA$1.6962; the pairing later closed daily trading at a higher level of CA$1.7021. This appreciation was brought on by lingering hopes for a Brexit deal being secured by the November deadline, despite a lack of recent progress in negotiations. GBP/CAD Exchange Rate Ticks Higher on Positive UK GDP Reception The Pound (GBP) has firmed against the...

On Monday, the Pound to New Zealand Dollar (GBP/NZD) exchange rate opened in the region of NZ$2.0391 in the morning and closed slightly lower around NZ$2.0301 in the evening. There was little UK or New Zealand domestic data to refer to yesterday, so GBP/NZD movement was instead caused by a reported drop in UK business confidence. Analysts at Deloitte and experts at the British Chambers of Commerce (BCC) both reported that UK...

Last week, the Pound opened trading against the Australian Dollar at a level of AU$1.8049 and closed higher around AU$1.8582. This appreciation was brought on by hopes that the UK might still secure a workable Brexit arrangement with the EU by the November deadline, despite evidence to the contrary. Both UK and EU leaders pledged their commitment to working through current issues associated with the Brexit process, with the...

A weaker-than-expected UK services PMI was not enough to drive the Pound Sterling to Japanese Yen (GBP/JPY) exchange rate lower on Wednesday. While the services PMI softened from 54.3 to 53.9 in September the sector remains firmly within a state of expansion, even in the face of mounting Brexit-based jitters. Although signs still point towards weakening business confidence and a muted economic outlook in the months ahead the...