Currency News: UK daily forex news and forecasts

The Pound US Dollar (GBP/USD) exchange rate gained ground on Monday as UK diesel prices reached a record high, strengthening expectations of higher Bank of England (BoE) interest rates. However, the pair’s advance remained limited. At the time of writing, GBP/USD was trading at $1.3265 after briefly climbing to a five-day high. The Pound (GBP) strengthened on Monday after UK diesel prices climbed to a new record,...

The Pound to Euro (GBP/EUR) exchange rate opened the week on the front foot, with Sterling finding support as expectations for another Bank of England (BoE) interest rate increase continued to build. At the time of writing, the GBP/EUR exchange rate was trading at around €1.1661, representing a gain of roughly 0.3% from Monday’s opening levels. The Pound (GBP) moved higher against most major currencies on Monday as...

The Euro to Dollar exchange rate (EUR/USD) has fallen to 12-week lows near 1.1350 as surging US Treasury yields and expectations of further Federal Reserve tightening reinforce Dollar demand. With the 10-year yield above 5.20% and markets increasingly pricing two more Fed hikes this year, the immediate balance of risks remains tilted towards further Euro losses. EUR/USD Forecasts: Bonds Dominate Nordea forecasts that...

The Pound to Dollar exchange rate (GBP/USD) has fallen to 12-week lows near 1.3200 as aggressive Federal Reserve tightening expectations strengthen the Dollar while fiscal concerns undermine Sterling. The Bank of England is also coming under increasing pressure to raise rates as elevated energy prices persist, but doubts over how much tightening the UK economy can withstand leave the Pound facing an increasingly difficult...

The Pound to Euro exchange rate (GBP/EUR) has attempted to stabilise after falling to 12-week lows near 1.1610, with Sterling struggling against resilient Eurozone economic data and renewed concerns over the UK fiscal outlook. Although UK yields have surged to 19-year highs, investors are increasingly treating higher borrowing costs as a risk to the Pound rather than an outright source of support. GBP/EUR Forecasts:...

The Dollar continued to dominate global currency markets at the end of the week, with the Pound to Dollar (GBP/USD) exchange rate falling to fresh 12-week lows near 1.3200 before staging a limited recovery. GBP/USD traded back towards 1.3250-1.3260 on Friday, but remained under heavy pressure after two consecutive weeks of sharp losses. According to Scotiabank; "Heavy spot losses Wednesday drove the GBP below the late...

The Pound to Euro (GBP/EUR) exchange rate remained under sustained pressure at the end of the week and slipped towards 1.1610, its weakest level in almost three months. The pair had attempted to stabilise around 1.1625 earlier in the week, but Sterling struggled as investors continued to question whether high UK interest rates would ultimately provide currency support or simply deepen concerns over the government's...

The Pound US Dollar (GBP/USD) exchange rate fell to a three-month low on Thursday, as growing expectations of Federal Reserve interest rate hikes strengthened the ‘Greenback’. At the time of writing, GBP/USD was trading at $1.3220, having recovered slightly from a low of $1.3215 but remaining lower on the day. The US Dollar (USD) held firm on Thursday as markets continued to anticipate more aggressive action from the...

The Pound to Euro (GBP/EUR) exchange rate remained close to a one-week low on Thursday, with the pairing coming under pressure as an unexpectedly strong improvement in German business confidence boosted demand for the single currency. At the time of writing, GBP/EUR was trading at around €1.1627, edging slightly lower compared with the start of Thursday’s session. The Euro (EUR) found some support on Thursday morning...

The Pound to Dollar exchange rate (GBP/USD) has slumped to 12-week lows around 1.3250 after exceptionally strong US business surveys reinforced expectations of further Federal Reserve tightening. The break below 1.3300 has weakened Sterling's technical position, while the Dollar continues to draw support from rising US yields and mounting expectations of rate hikes in both October and December. GBP/USD Forecasts:...