Currency News: UK daily forex news and forecasts

The Pound to Dollar exchange rate (GBP/USD) remained under pressure as investors favoured the US Dollar amid resilient American economic data, elevated Treasury yields and fading expectations for Federal Reserve interest-rate cuts. With UK political uncertainty and questions over the Bank of England’s next move lingering in the background, Sterling faces a challenging near-term environment despite pockets of...

The Euro to Dollar exchange rate (EUR/USD) came under renewed pressure during the week, slipping below 1.1600 as rising US yields, persistent inflation concerns and stronger demand for the dollar weighed on the single currency. While some banks continue to forecast a stronger Euro over the medium term, investors have become increasingly cautious as expectations for Federal Reserve rate cuts fade and evidence of slowing...

The Pound to Euro exchange rate (GBP/EUR) proved surprisingly resilient during the week, holding above 1.1550 despite a run of softer UK economic data and growing doubts over the scale of future Bank of England interest-rate increases. Sterling benefited from an easing of immediate political fears after Andy Burnham pledged support for existing fiscal rules, helping reverse some of the sharp losses triggered by concerns...

The Pound to Euro exchange rate (GBP/EUR) remained close to 10-day highs near 1.1565 despite another run of disappointing UK economic releases, as weakness in the Euro helped offset concerns over the domestic outlook. Sterling shrugged off weaker retail sales and a larger-than-expected borrowing requirement, with investors instead focusing on growing doubts over Eurozone growth and whether the European Central Bank can...

The Pound to Dollar exchange rate (GBP/USD) slipped back below 1.3400 after disappointing UK business confidence data reinforced concerns that higher energy costs are beginning to weigh heavily on economic activity. Sterling struggled to gain traction as investors weighed evidence of slowing UK growth against persistent inflation pressures, while the US Dollar remained supported by elevated Treasury yields and expectations...

The Pound to Euro exchange rate (GBP/EUR) retreated from 10-day highs above 1.1570 after a sharp deterioration in UK services-sector activity raised fresh concerns over the domestic economic outlook. While Sterling initially benefited from easing pressure in UK bond markets, disappointing PMI data reinforced fears that growth is slowing sharply even as inflationary pressures remain elevated, creating a difficult backdrop...

The Pound to Euro (GBP/EUR) exchange rate moved sideways on Thursday as investors reacted to underwhelming PMI data from both the UK and the Eurozone. At the time of writing, the GBP/EUR exchange rate was trading at approximately €1.1559, little changed from the opening levels seen earlier in the session. The Pound (GBP) struggled for traction on Thursday after the UK’s latest preliminary PMI figures pointed to a...

The Pound US Dollar (GBP/USD) exchange rate traded erratically on Thursday as markets digested the UK’s latest PMI releases. At the time of writing, GBP/USD was trading at $1.3444, virtually unchanged on the day. The Pound (GBP) traded unevenly on Thursday following the release of the UK’s latest flash PMIs for May, with investors weighing a sharp slowdown in services activity against signs of persistent price...

The Pound to Euro exchange rate (GBP/EUR) remained close to one-week highs near 1.1550 despite softer-than-expected UK inflation data, as markets continued to price in the possibility of further Bank of England tightening later this year. While lower inflation eased some immediate pressure on policymakers, Sterling found support from resilient rate expectations and a reduction in near-term political uncertainty surrounding...

The Pound to Dollar exchange rate (GBP/USD) remained anchored around the 1.3400 level as rising UK and US bond yields continued to dominate currency markets. Despite softer-than-expected UK inflation data, Sterling held firm as traders maintained expectations for further Bank of England tightening later this year. Meanwhile, elevated US Treasury yields and growing concerns over persistent inflation have provided fresh...