Currency News: UK daily forex news and forecasts

The Pound to Euro exchange rate was gaining this morning, as the UK's Manufacturing PMI for February gave extra support to GBP. At the time of writing the pair are currently trading at around 1.1572. UK Manufacturing PMI Adds Support to Sterling (GBP) The Pound was supported this morning from the release of the UK’s final manufacturing PMI for February, which slightly beat forecasts and showed another growth in the...

In lieu of any notable data from both the UK and Eurozone today, the Pound to Euro exchange rate dipped this morning amid risk-off mood. At the time of writing the pair are currently trading at around 1.4732. Pound (GBP) Weakens as Risk-off Mood Increases The Pound has weakened this morning as the recent rally regarding the UK Government’s exit plan out of lockdown appears to have run out of steam. Pound investors...

The Pound’s strong streak may have come to an end for now as investors took profit from the British currency’s bullish February, and the British Pound to Swiss Franc (GBP/CHF) exchange rate has been tumbling from its best levels on new demand for the Swiss Franc as well. The Swiss Franc is a safe haven currency which is often appealing in times of global market uncertainty, so it is benefitting from this week’s bonds rout....

GBP/CAD Exchange Rate as UK Markets Become More Cautious The GBP/CAD exchange rate fell by -0.2% today, with the pairing currently fluctuating around CA$1.76. Sterling fell today as concerns for the UK economy have returned, despite Downing Street’s outline of its lockdown exit plan earlier this week. Today also saw reports that more UK workers had been put on furlough in January, resulting in costs of up to £53.8...

GBP/AUD Exchange Rate Sheds Ground as Covid-19 Vaccine Optimism Fades In the absence of any fresh UK economic data releases there was little to prevent the Pound to Australian Dollar (GBP/AUD) exchange rate from faltering. As the impact of earlier market optimism over the prospect of a second quarter UK economic recovery faded this left the Pound on the back foot against many of its rivals. GBP exchange rates enjoyed a...

The Pound continues to rally today, but the British Pound to New Zealand Dollar (GBP/NZD) exchange rate is still struggling to gain too far past the week’s opening levels. This is because the New Zealand Dollar still remains broadly appealing itself, and the latest Reserve Bank of New Zealand (RBNZ) policy decision only further bolstered market appetite for the relatively risky ‘Kiwi’. Last week’s GBP/NZD movement was...

The Pound to Euro exchange rate firmed this morning as positive GDP data from Germany helped to bolster EUR. At the time of writing the pair are currently trading at around 1.1651. Pound (GBP) Finding Continued Support from UK Lockdown Easing The Pound was supported this morning as more details emerge from the UK Government’s proposed roadmap out of lockdown. With schools set to reopen on the 8th of March, Professor...

Despite continued strong demand for the Pound, the British Pound to South African Rand (GBP/ZAR) exchange rate is struggling to hold its advance attempts. This is because the risky emerging market correlated South African Rand continues to benefit from global risk demand, though its appeal has been dented slightly by market anticipation for upcoming South African budget news. Last week saw a sharp rebound in GBP/ZAR from the...

Pound (GBP) Exchange Rates Strengthen in Spite of Rising UK Unemployment Rate The Pound to Australian Dollar (GBP/AUD) exchange rate strengthened in spite of an increase in December’s UK unemployment rate. Although unemployment picked up from 5% to 5.1% at the end of 2020 this was not enough to drag the Pound lower across the board today. This increase was largely anticipated by markets, limiting the negative impact of...

GBP/USD Exchange Rate Heads Higher on UK Covid Vaccine Optimism The Pound to US Dollar exchange rate rose by 0.2% today ahead of the unveiling of Prime Minister Boris Johnson’s lockdown exit plan. The pairing is currently trading around $1.40. Boris Johnson is also expected to highlight new data that shows that Covid-19 vaccines has had a significant effect on transmission. UK Vaccine Minister Nadhim Zahawi...