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Currency News: UK daily forex news and forecasts

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Pound US Dollar (GBP/USD) Exchange Rate Plummets as US PMIs Point to Solid Growth

23 May 2018 at 4 PM - Written by John Cameron

UK Inflation misses its Mark – Pound US Dollar (GBP/USD) Exchange Rate Tumbles The Pound US Dollar (GBP/USD) exchange rate tumbled on Wednesday as investors reacted to a disappointing UK consumer price inflation print and a raft of upbeat US purchasing managers’ index (PMI) readings. According to the Office for National Statistics (ONS), consumer prices in the UK rose by 2.4% year-on-year, down from the previous...

CATEGORIES: Pound Dollar Forecasts

GBP/CAD Exchange Rate Falls Today as Slowing Inflation Lowers Interest Rate Hike Odds

23 May 2018 at 1 PM - Written by Ben Hughes

On Tuesday, the Pound to Canadian Dollar exchange rate opened trading around 1.7163 and closed higher in the region of 1.7224. The main Pound influencer yesterday was a testimony session held between Bank of England (BoE) policymakers and the Treasury Select Committee. BoE officials gave a mixed assessment of the UK economy; on the positive side, Gertjan Vlieghe suggested that there could be as many as six interest rate...

CATEGORIES: Pound Canadian Dollar Forecasts

GBP/AUD Exchange Rate Update: Sterling Drops after Mixed BoE Testimony

22 May 2018 at 1 PM - Written by Tim Boyer

Monday saw the Pound to Australian Dollar exchange rate open trading in the region of 1.7911 and close lower around 1.7714. The losses in the GBP/AUD exchange rate were mainly caused by news that the UK will eventually leave the EU customs union, regardless of other agreements. Last week brought news of an apparent breakthrough, when it was reported that an emergency ‘backstop’ had been agreed to keep the UK in a customs...

CATEGORIES: Pound Australian Dollar Forecasts

GBP to EUR Exchange Rate Edges Higher as Bank of England Officials Take Surprisingly Hawkish Tone

22 May 2018 at 1 PM - Written by Frank Davies

Despite broad political jitters weighing on the Euro, and hopes that the Bank of England (BoE) could still be more hawkish than expected on Britain’s economy, the British Pound to Euro (GBP/EUR) exchange rate’s recovery was limited on Tuesday. Sterling traders highly anticipate key UK data due later in the week before making any big moves on the currency. Following last week’s climb from 1.1336 to 1.1438, GBP/EUR shed...

CATEGORIES: Pound Euro Forecasts

EUR to GBP Exchange Rate Edges Higher on Brexit Uncertainties Following Week of Losses

21 May 2018 at 5 PM - Written by Minesh Chaudhari

Despite Italian political uncertainties and bearish expectations for Eurozone inflation, the Euro to British Pound (EUR/GBP) exchange rate saw a modest recovery on Monday. This was largely due to Brexit and economic uncertainties weighing on Sterling ahead of this week’s key UK data reports. Italian political uncertainty had a big downside influence on EUR/GBP last week, dragging the pair down from 0.8821 to 0.8742 throughout...

CATEGORIES: Pound Euro Forecasts

EUR/USD Exchange Rate Dips after French Integration Plans Called into Question

21 May 2018 at 5 PM - Written by Tim Boyer

Last week, the Euro to US Dollar exchange rate opened in the region of 1.1962 on Monday and closed down lower around 1.1787. This deterioration on the Euro’s part was twofold, with poor economic data and political uncertainty lowering demand for the single currency. Eurozone data showed slowing GDP growth and lower inflation, two factors that were expected to increase the wait before any Bank of England (BoE) monetary...

CATEGORIES: Euro Forecasts

Pound Australian Dollar (GBP/AUD) Exchange Rate Hammered as US-China Trade Relations Improve

21 May 2018 at 4 PM - Written by John Cameron

Brexit Negotiations Leave Pound (GBP) Exchange Rates on the Back Foot The Pound (GBP) exchange rates tumbled into Monday’s trading session, paring recent gains against the Australian Dollar (AUD) as investors reacted to news that US-China trade relations are beginning to ease. On the Brexit front, investor anxiety is still rather high due to the issue of the customs union and the Irish border, with last week’s...

CATEGORIES: Pound Australian Dollar Forecasts

GBP to ZAR Exchange Rate Climbs on Brexit Hopes and Market Risk-Aversion

18 May 2018 at 1 PM - Written by Minesh Chaudhari

Concerns about the Brexit process, as well as disappointment in Britain’s economic outlook, did little to stop the British Pound to South African Rand (GBP/ZAR) exchange rate from climbing this week. Instead, broad risk-aversion has weakened the Rand and helped the Pound to recover most of its recent losses against the Rand. Last week saw GBP/ZAR tumble from 16.89 to 16.59 as Sterling was pressured by Bank of England (BoE)...

CATEGORIES: Pound Rand Forecasts

GBP USD Exchange Rate Slides Lower as US Labour Market Demonstrates Fresh Signs of Tightening

17 May 2018 at 4 PM - Written by Tim Boyer

Speculation over Brexit continued to weigh on the Pound US Dollar (GBP/USD) exchange rate on Thursday, with markets unsettled by conflicting reports on the prospect of continued customs union membership. Confidence in the US Dollar, meanwhile, picked up in response to a sharp surprise uptick in May’s Philadelphia Fed business outlook index. As the measure leapt from 23.2 to 34.4 this encouraged investors to pile into the...

CATEGORIES: Pound Dollar Forecasts

GBP/AUD Exchange Rate Drops as Theresa May Rejects Post-Brexit Customs Union

17 May 2018 at 4 PM - Written by Ben Hughes

Yesterday saw the Pound open trading against the Australian Sollar in the region of 1.8078 and close down lower around 1.8016. This slide in value came after Bank of England (BoE) Deputy Governor Ben Broadbent gave a negative assessment of the UK economy. Mr Broadbent was particularly critical of UK productivity levels, which have remained below those of EU rivals despite more hours worked. GBP/AUD Exchange Rate Drops...

CATEGORIES: Pound Australian Dollar Forecasts