Currency News: UK daily forex news and forecasts

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...

Pound US Dollar (GBP/USD) Exchange Rate Shoots Upward amid USD Profit-Taking The Pound US Dollar (GBP/USD) exchange rate is skyrocketing and close to hitting two-week highs today. Better-than-expected UK employment figures are likely helping to push the currency pair higher today, as well as a recovery in global risk appetite. US Dollar (USD) profit-taking may also be boosting GBP/USD. A boost to US retail sales and Brexit...

GBP/AUD Flat amid China’s Economic Slowdown The Pound Australian Dollar (GBP/AUD) exchange rate is trading in a narrow range today due to an array of disappointing Chinese data, placing pressure on the global economic recovery. At the time of writing, the GBP/AUD exchange rate is trading at approximately AU$1.7682, shedding most of its overnight gains. Australian Dollar (AUD) Subdued After China’s Lockdown...

GBP/AUD Stumbles as Risk-On Sentiment Prevails The Pound Australian Dollar (GBP/AUD) exchange rate is falling today amid improved risk appetite as Chinese authorities look to reopen Shanghai. At the time of writing, the GBP/AUD exchange rate is trading at approximately AU$1.7702, down roughly 0.4% from today’s opening levels. Australian Dollar (AUD) Bolstered by the Possibility of Easing Chinese Lockdowns The...