Currency News: UK daily forex news and forecasts

GBP/EUR Rangebound on UK Cost-of-Living Woes The Pound Euro (GBP/EUR) exchange rate is trading in a narrow range today as the UK’s cost of living crisis is back in the spotlight as investors digest Chancellor Rishi Sunak’s new fiscal support package. At the time of writing, the GBP/EUR exchange rate is trading at approximately €1.17. Pound (GBP) Muted as Investors Digest Fiscal Support Package The Pound (GBP)...

Pound (GBP) Slips as Cost-of-Living Plans are Announced The Pound (GBP) saw a muted response as Chancellor Rishi Sunak unveiled measures to support the cost-of-living crisis gripping the UK. Sunak’s intervention comes as the UK faces its highest rate of inflation for over 40 years. Which alongside the ongoing Ukraine crisis, and Covid lockdowns in China, have stoked UK recession fears in recent weeks. The ‘temporary...

GBP/AUD Rangebound amid UK Political Uncertainty The Pound Australian Dollar (GBP/AUD) exchange rate is trading in a narrow range this morning, continuing the overnight trend. The Pound (GBP) is struggling to gain any meaningful momentum as political uncertainty prevails, though yesterday’s publication of the ‘partygate’ report wasn’t as damning as predicted. Meanwhile, the Australian Dollar (AUD) is mixed today as...

Pound (GBP) Wavers Ahead of Report Findings The Pound is recovering today after falling sharply yesterday over the troubling service PMIs, but with the release of the Sue Grey ‘partygate’ report, Sterling’s upside potential appears limited. With the public release of Grey’s report, the findings don’t appear to be as damning as previously thought. An alleged party on 13th November 2020, hosted by Carrie...

GBP/NZD Plunges as RBNZ Hikes Interest Rates The Pound New Zealand Dollar (GBP/NZD) exchange rate is falling today after the Reserve Bank of New Zealand (RBNZ) hiked interest rates. Meanwhile, the Pound (GBP) is under pressure following publication of Sue Gray’s ‘Partygate’ report. At the time of writing, the GBP/NZD exchange rate is trading at approximately $1.93. New Zealand Dollar (NZD) Climbs after RBNZ...

Pound (GBP) Slumps after Poor PMI Data Compounds Economic Fears The Pound saw a sharp drop today as preliminary PMI data printed well below expectations. Both manufacturing and services data missed estimates with the former falling to 54.6 in May compared to an expected 55.1. Even worse reading was the contraction of the services sector, with the index slumping to a 15-month low at 51.8 against an expected 55.8. The data...

GBP/USD Retreats on Disappointing UK PMI Readings The Pound US Dollar (GBP/USD) exchange rate is dropping this morning in response to the UK’s weaker-than-predicted PMI figures. Meanwhile, the US Dollar (USD) is being buoyed by global recession fears sparked by China’s ongoing lockdown. At the time of writing, the GBP/USD exchange rate is trading at approximately $1.25. Pound (GBP) Plunges in Response to...

GBP/AUD Slips on Australian Election 2022 The Pound Australian Dollar (GBP/AUD) exchange rate is facing headwinds at the opening of today’s European session as the Australian election looks set to produce a new majority government. Meanwhile, the Pound (GBP) continues to struggle amid the UK cost-of-living crisis. At the time of writing, the GBP/AUD exchange rate is trading at approximately €1.77. Australian Dollar...

GBP/EUR Edges Higher as EUR Investors Look Towards ECB Accounts The Pound Euro (GBP/EUR) exchange rate is edging higher at the opening of today’s European session as EUR investors await the European Central Bank’s (ECB) May monetary policy accounts. However, GBP/EUR upside remains limited following the UK’s latest consumer price index, released yesterday. At the time of writing, the GBP/EUR exchange rate is trading at...

GBP/EUR Plummets as UK CPI Reaches Highest Level Since 1982 The Pound Euro (GBP/EUR) exchange rate tumbled at the opening of today’s European session in response to the UK’s latest consumer price index. However, GBP/EUR is beginning to regain some losses as Eurozone’s inflation missed forecasts. At the time of writing, the GBP/EUR exchange rate is trading at approximately €1.18. Pound (GBP) Collapses as UK CPI...