Currency News: UK daily forex news and forecasts

Uncertainty around the UK job market outlook, as well as lingering Rand demand, has been limiting the British Pound to South African Rand (GBP/ZAR) exchange rate’s advance potential. Still, the pair continues to attempt to advance this week as it rebounds from its worst levels seen last week. Key UK and South African inflation data could cause movement in the pair tomorrow, and UK data is likely to remain in focus through the...

EUR/USD Exchange Rate Rangebound as Risk-On Market Mood Weakens US Dollar The Euro to US Dollar (EUR/USD) exchange rate held relatively steady today. Investor demand for the safe-haven ‘Greenback’ has slipped on hopes that the global economy could be on the road to recovery. The pairing is currently fluctuating around $1.20. US Treasury yields have also slumped to their lowest levels in five weeks because of the Federal...

Investors attempted to buy the British Pound to New Zealand Dollar (GBP/NZD) exchange rate back from monthly lows towards the end of last week, but Sterling is struggling to sustain a bigger advance as the New Zealand Dollar remains appealing as well. While this week’s New Zealand economic calendar will be fairly quiet, analysts expect that there are still many reasons for investors to buy the ‘Kiwi’. After opening last...

The Pound Euro (GBP/EUR) exchange rate has edged lower this morning as the Eurozone continues to ramp up its vaccine rollout to combat the third wave of the coronavirus pandemic. At the time of writing the GBP/EUR exchange rate 1.1542 as mutant coronavirus cases creep back into the UK. Pound Sterling (GBP) Exchange Rate Falls on Indian Coronavirus Mutation The Pound has edge lower this morning after the new Indian mutation...

Despite higher market sentiment this week, the Japanese Yen has been able to capitalise on weakness in rivals and the British Pound to Japanese Yen (GBP/JPY) exchange rate has been trending lower as a result. Investors are hesitant to buy the Pound as new uncertainties rise about the stability of UK politics with Scottish elections approaching soon. Meanwhile, some analysts believe the Japanese economic outlook is improving....

The Pound Euro (GBP/EUR) exchange rate has been mixed this morning as the Pound looks to rebound and push back above €1.15 heading into the weekend. At the time of writing the GBP/EUR exchange rate is trading at around 1.1497 as the latest Eurozone inflation data met forecasts. Pound Sterling (GBP) Gains Traction over Summer Travel Hopes The Pound is gaining traction against the Euro this morning as hopes that the UK’s...

GBP/USD Exchange Rate Steady as US Retail Sales Beat Forecasts The Pound US Dollar (GBP/USD) exchange rate held steady this morning after the ‘Greenback’ was undermined by a dovish Federal Reserve. The Fed’s Chairman Jerome Powell suggested that it was unlikely that the bank would raise interest rates until as late as next year. The pairing is currently fluctuating around $1.37. Added to this, demand for the...

The Pound Canadian Dollar (GBP/CAD) exchange rate has rebounded this afternoon and sees the Pound heading higher despite positive employment change data from Canada. At the time of writing the GBP/CAD exchange rate is currently trading at around CA$1.7243. Pound (GBP) Exchange Rate Rebounds on Success of UK Vaccine Rollout The Pound has rebounded against the Canadian Dollar this afternoon though coronavirus concerns and a...

GBP/JPY Exchange Rate Rises as US Economic strength Weighs on Appeal for Japanese Yen The Pound Japanese Yen (GBP/JPY) exchange rate rose by 0.3% today as strong US economic growth has weakened demand for the Japanese currency. The pairing is currently trading around ¥150.30. Bank of Japan (BoJ) Governor Haruhiko Kuroda was optimistic about the weaker Japanese Yen, however, saying that it could help Japanese manufacturers as...

Optimism about Britain’s coronavirus recovery outlook is keeping the British Pound to US Dollar (GBP/USD) exchange rate trending with an upside bias today, as investors sell the US Dollar again. The US Dollar’s strength from earlier in the week has already faded as the latest US inflation data has done little to support the hawkish bets of markets, and investors are now awaiting coronavirus news and more US data. Last week...