Currency News: UK daily forex news and forecasts

The Pound to Dollar exchange rate (GBP/USD) slipped back from 20-day highs near 1.3400 as renewed Middle East tensions encouraged investors to rotate back into the US Dollar. Despite the pullback, Sterling remained relatively resilient, with markets continuing to favour the Pound on improving UK sentiment while awaiting fresh clues on the Federal Reserve's policy outlook. GBP/USD Forecasts: Retreat from 20-Day...

The Pound to Euro exchange rate (GBP/EUR) eased back after reaching a 12-month high near 1.1720, as renewed geopolitical tensions prompted investors to trim some recent Sterling gains. Despite the pullback, underlying demand for the Pound has remained firm, with investors continuing to unwind bearish positions while awaiting further clarity on the economic policies of an expected Andy Burnham government. GBP/EUR Forecasts:...

The Pound Euro (GBP/EUR) exchange rate climbed to a new one-year high on Wednesday, despite a quiet session with no major data releases from either the UK or the Eurozone. At the time of writing, GBP/EUR was trading around €1.1716, edging slightly higher on the day and remaining close to its strongest levels in more than 12 months. The Pound (GBP) traded without a firm direction on Wednesday, with an empty UK economic...

The Pound US Dollar (GBP/USD) exchange rate ticked downwards on Wednesday, with escalating tensions in the Middle East prompting a risk-off market mood. At the time of writing, GBP/USD was holding around $1.3339, down marginally on the day. The US Dollar (USD) enjoyed modest gains on Wednesday as tensions in the Middle East continued to intensify. Earlier in the week, shipping vessels came under fire in the Strait of...

The Pound to Dollar exchange rate (GBP/USD) climbed to a 20-day high above 1.3400 as calm market conditions and subdued volatility encouraged demand for higher-yielding currencies. With the Dollar consolidating after its recent rally and Sterling continuing to benefit from easing UK political uncertainty, investors have become more willing to rebuild long Pound positions. GBP/USD Forecasts: 20-Day High The Pound to...

The Pound to Euro exchange rate (GBP/EUR) climbed to a fresh 12-month high near 1.1720 as Sterling continued to benefit from subdued market volatility, easing political uncertainty and lingering pressure on the Euro. Investors remain increasingly comfortable with the UK's political transition, while expectations that the European Central Bank may proceed cautiously with further rate hikes have limited support for the...

The Pound Euro (GBP/EUR) exchange rate briefly climbed to a fresh one-year high on Tuesday, before quickly trimming its gains. At the time of writing, GBP/EUR was trading at €1.1704, having earlier peaked at €1.1715. The Pound (GBP) remained supported on Tuesday, despite a lack of notable UK economic releases leaving Sterling with little fresh domestic impetus. Recent gains in the Pound have been driven by easing...

The Pound US Dollar (GBP/USD) exchange rate weakened on Tuesday, slipping back after striking a near three-week high overnight, as a deterioration in risk appetite pressured the pairing. At the time of writing, GBP/USD was trading at $1.3371, down from an overnight peak of $1.3398. The US Dollar (USD) strengthened on Tuesday, recouping part of Monday evening’s losses, as renewed Middle East tensions pushed investors...

The Pound to Dollar exchange rate (GBP/USD) remained close to two-week highs around 1.3340 as investors continued to reassess the outlook for the US Dollar following last week's disappointing labour market report. Although weaker payrolls data has tempered expectations of further Federal Reserve rate hikes, the Dollar remains well supported by relatively high US yields and resilient investor demand. GBP/USD Forecasts:...

The Pound to Euro exchange rate (GBP/EUR) remained close to 12-month highs around 1.1680 as Sterling continued to benefit from improving market sentiment and the unwinding of long-held bearish positions. While attention is increasingly turning towards the Labour leadership process and the composition of an expected Andy Burnham government, investors have so far taken comfort from the prospect of an orderly political...