Currency News: UK daily forex news and forecasts

The Pound New Zealand exchange rate edged higher to above 0.3% today and is currently trading around NZ$1.9462 on the inter-bank market. The New Zealand Dollar (NZD) has weakened against the Pound (GBP) as its status has become increasingly unappealing following this week’s disappointing economic data – NZ CPI figures fell below expectation on Tuesday. This has weighed on market confidence, with fears rising that the...

A strong resurgence in US advance retail sales kept the Pound Sterling to US Dollar exchange rate on a weaker footing ahead of the Easter weekend. As sales surged 1.6% on the month in March investors were encouraged to buy back into the US Dollar, with higher levels of consumer spending pointing towards greater economic confidence. The continued improvement in initial and continuing jobless claims added to the positive...

The Pound to Euro exchange rate edged up on Thursday, and the pairing is currently trading at an inter-bank rate of €1.1556. UK retail sales surged in March, which likely buoyed Sterling against the single currency. Between February and March, sales rose by 1.1%, with annual sales surging by a better-than-forecast 6.7%, the largest annual rise since October 2016. The Office for National Statistics (ONS) revealed that...

Pound Canadian Dollar (GBP/CAD) Exchange Rate Slides as Canadian CPI Rises The Pound Sterling Canadian Dollar (GBP/CAD) exchange rate slipped and the pairing is currently trading at an inter-bank rate of CA$1.7349. Canadian annual inflation rose to 1.9% as forecast in March as rising rent and mortgage interest costs boosted headline inflation. This likely buoyed the Canadian Dollar on Wednesday afternoon. However,...

GBP/AUD Exchange Rate Falls as Chinese Industrial Production Improves The Pound Australian Dollar (GBP/AUD) exchange rate fell today and is at the time of writing trading around AU$1.8158 on the inter-bank market. The Australian Dollar (AUD) rose against the Pound (GBP) today following the publication of the Australian Westpac Leading Index figures for March, which increased to 0.2%. However, Australia’s largest trading...

Despite a lack of impressive new Eurozone data today, the British Pound to Euro (GBP/EUR) exchange rate has kept falling. Brexit uncertainties kept pressure on the Pound, while the Euro is still benefitting from market hopes that the Eurozone economy is gradually turning around from the slowdown seen since the end of last year. A combination of Brexit uncertainties and Eurozone economic hopes left GBP/EUR sliding last week,...

A rise in demand for safe haven currencies and a cautious tone from the Reserve Bank of Australia (RBA) were not enough to help the British Pound to Australian Dollar (GBP/AUD) exchange rate avoid losses today, as the latest Brexit uncertainties hit Sterling towards the end of the day. As Pound volatility has fallen though, the pair’s movements were limited. Amid Brexit uncertainties and Australian Dollar resilience, GBP/AUD...

Euro US Dollar (EUR/USD) Exchange Rate Flat despite Unexpected Fall in US Industrial Production The Euro US Dollar (EUR/USD) exchange rate remained muted, and the pairing is currently trading at an inter-bank rate of $1.1290. Data released this afternoon revealed that US industrial production unexpectedly fell by -0.1% in March. Further data revealed that US manufacturing output was unchanged after two consecutive...

GBP/USD Exchange Rate Rangebound as Brexit Cross-Party Talks Stall The Pound US Dollar (GBP/USD) exchange rate steadied today and is currently trading around $1.3090 on the inter-bank market. The US Dollar (USD) stabilised against the Pound (GBP) as traders are becoming more cautious as the US Federal Reserve has indicated an increasingly dovish stance. This came following Monday evening’s speech by Charles Evans, the...

Investors took a break from buying the surprisingly resilient Euro today, as the Euro to British Pound (EUR/GBP) exchange rate slipped back from the strong weekend levels it had closed at. Investors were buying the Pound back from its lows as last week’s Sterling selloff appeared overdone, and left markets anticipating major data due for publication in the coming sessions. After opening last week at the level of 0.8606,...