Currency News: UK daily forex news and forecasts

GBP/NZD Exchange Rate Dips as New Zealand Economic Situation Remains Strong The Pound to New Zealand Dollar (GBP/NZD) exchange rate fell by -0.2% today, with the pairing currently trading around NZ$1.905. The New Zealand Dollar (NZD) rose today following news that New Zealand’s economy had absorbed some of the shock of the coronavirus pandemic. Wednesday saw the Reserve Bank of New Zealand (RBNZ), for example, explain New...

Falling UK Car Production Fuels Pound Canadian Dollar (GBP/CAD) Exchange Rate Losses The sharper-than-expected decline in October’s UK car production figure left the Pound to Canadian Dollar (GBP/CAD) exchange rate under pressure. Worries over the health of the UK manufacturing sector picked up as car production plunged -18.2% on the year, highlighting the increasing challenges facing manufacturers. This latest decline...

Brexit hopes rising this week have not been enough to keep the British Pound to South African Rand (GBP/ZAR) exchange rate near its best levels. Instead, markets have been impressed by all the good news in recent weeks, which is making high yielding risk and emerging market currencies like the South African Rand particularly appealing. Looking ahead, the Pound could be more resilient if there are any optimistic Brexit developments...

GBP/SEK Exchange Rate Falls as UK Economic Outlook Darkens The Pound to Swedish Krona (GBP/SEK) exchange rate slipped today, with the pairing currently trading around 11.385kr. Sterling fell today following remarks from Chancellor Rishi Sunak, who warned that the UK economy was at the beginning of an ‘emergency’ as Covid-19 and Brexit uncertainty could severely limit the British economy. Nevertheless, the Office for...

GBP/ZAR Exchange Rate Sinks as Covid-19 Vaccine Hopes Uplift SA Markets The Pound to South African Rand (GBP/ZAR) exchange rate fell by -0.4% today, with the pairing currently trading around R20.426. The South African Rand (ZAR) has benefited from this week’s announcement of another successful Covid-19 vaccine trial, this time from the UK’s AstraZeneca, based in Oxford. As a result, demand for risky assets like the...

Despite continued hopes that the UK and EU are drawing closer to reaching a Brexit deal, the British Pound to Australian Dollar (GBP/AUD) exchange rate has been knocked from its highs today. The Australian Dollar continues to see resilient demand as a currency correlated to market risk and trade, and this sentiment has only been further bolstered by the latest US political developments. Last week saw mixed movement in GBP/AUD....

Strong NZ Retail Sales Fail to Dent Pound New Zealand Dollar Exchange Rate The Pound to New Zealand Dollar (GBP/NZD) exchange rate rallied at the start of the week in spite of an unexpectedly strong rebound in the third quarter New Zealand retail sales data. Although sales rose 28% on the quarter this was not enough to give the New Zealand Dollar any boost against its rival, even as the general sense of market risk appetite...

Hopes for optimistic developments in the ongoing Brexit and coronavirus situations is keeping the British Pound to US Dollar (GBP/USD) exchange rate strong today. Markets remain hopeful that the UK and EU negotiators are getting closer to reaching a Brexit deal, while coronavirus vaccine news is making markets even more optimistic. This is keeping the US Dollar under pressure as well, as the US Dollar is often less appealing in...

Pound Japanese Yen (GBP/JPY) Exchange Rate Gains Ground Thanks to UK Retail Sales Growth UK retail sales delivered unexpected monthly growth in October, helping to keep the Pound to Japanese Yen (GBP/JPY) exchange rate on a stronger footing ahead of the weekend. Investors were encouraged as retail sales strengthened 1.2% on the month, as opposed to stagnating as originally forecast. This suggests that UK consumers took a...

Hopes for a UK-EU Brexit deal to be announced soon are keeping Sterling buoyant, but the British Pound to Canadian Dollar (GBP/CAD) exchange rate has struggled to sustain notable gains. Investors continue to find the Canadian Dollar appealing amid Canada’s economic outlook and recovering oil prices, which is limiting the pair’s potential for gains and leaving investors looking ahead to what could be a major week for the Brexit...