Currency News: UK daily forex news and forecasts

GBP/USD Exchange Rate Eases as BoE Rate Cut Fears Rise on Poor UK Retail Sales The Pound US Dollar (GBP/USD) exchange rate dipped today, with the pairing currently trading around $1.304 after December’s UK retail sales unexpectedly fell by -0.6% month-on-month, while the year-on-year figure fell below forecasts to 0.9%. Quantitative Economist at UBS, Filip Lipev, commented: ‘The UK seems to be heading to a rate cut on...

Rising Bank of England (BoE) interest rate cut bets have remained the biggest story for Pound exchange rates this week, but the British Pound to New Zealand Dollar (GBP/NZD) exchange rate has still recovered from weekly lows due to a lack of strength in New Zealand Dollar trade. The New Zealand Dollar has been benefitting slightly from global developments, but lingering uncertainties and underwhelming New Zealand data is keeping...

GBP/NZD Exchange Rate Falls as US-China Trade Deal Boosts New Zealand Dollar The Pound New Zealand Dollar (GBP/NZD) exchange rate fell by -0.3% today, with the pairing currently trading around NZ$1.963 after the risk-sensitive ‘Kiwi’ was buoyed following the signing of the long-awaited US-China trade deal. While the deal between Washington and Beijing received a lukewarm response from markets, with Julian Evans-Pritchard...

Despite rising Bank of England (BoE) interest rate cut bets and higher market demand for currencies correlated to trade and risk, the British Pound to South African Rand (GBP/ZAR) exchange rate has recovered to above the week’s opening levels today. The Pound is steadying ahead of tomorrow’s key UK retail sales report, while the South African Rand continues to face pressure from concerns over South Africa’s economic...

EUR/GBP Exchange Rate Edges Higher as Bank of England Rate Cut Fears Increase The Euro Pound (EUR/GBP) exchange rate dipped by around -0.25% today, with the pairing currently trading at €1.167 at the time of writing after UK inflation fell unexpectedly to a three-year low of 1.3% in December. The Pound (GBP) has struggled now that an interest rate cut from the Bank of England (BoE) now seems more certain, with a flagging...

Despite Bank of England (BoE) interest rate cut bets continuing to rise in reaction to the latest UK data and general market optimism over recent geopolitical developments, the British Pound to Australian Dollar (GBP/AUD) exchange rate is advancing again today. The Australian Dollar is tumbling amid market disappointment that the US-China ‘phase one’ trade deal would not leave all US tariffs undone, and this is keeping...

While the Pound has slumped against many major currencies on Bank of England (BoE) interest rate cut bets this week, the British Pound to Japanese Yen (GBP/JPY) exchange rate has been able to avoid significant losses due to market aversion to safe haven currencies this week. Investors have been hesitant to buy the safe haven Japanese Yen as market sentiment surrounding global geopolitical tensions improves, but the Pound’s...

US Dollar (USD) Buoyed by US CPI Figures The US Dollar is trending higher this afternoon as markets response to the latest US consumer price index (CPI). According to data published by the US Bureau of Labor Statistics (BLS), headline inflation climbed from 2.1% to 2.3% in December, rising to its highest levels since October 2018. However the monthly figures came in slightly below expectations, accelerating 0.2% against...

GBP/AUD Exchange Rate Edges Higher, ‘Aussie’ Gains on US-China Trade Deal Hopes The Pound Australian Dollar (GBP/AUD) exchange rate fell by -0.6% today, with the pairing currently trading around AU$1.881 as the risk-averse ‘Aussie’ continues to benefit from renewed risk-appetite as markets prepare for a US-China ‘phase one’ trade deal to be signed off this week. Joseph Capuso, a Currency Strategist at the...

The British Pound to Canadian Dollar (GBP/CAD) exchange rate plunged today, and was in fact one of the worst performing major Pound pairs due to lasting strength in the Canadian Dollar. While the Pound plummeted on fresh bets that the Bank of England (BoE) could cut UK monetary policy soon, the Canadian Dollar continued to benefit from last week’s stronger than expected Canadian job market data which softened Bank of Canada...