Currency News: UK daily forex news and forecasts

Concerns about the US Presidential Debate was not enough help the British Pound to Australian Dollar (GBP/AUD) exchange rate to recover its weekly losses, but the pair’s losses did slow today as market hopes for a Brexit deal and the latest Bank of England (BoE) speculation helped the Pound to steady. Investors continue to find the Australian Dollar relatively appealing as a risk-correlated currency in recent sessions. Last...

EUR/GBP Exchange Rate Falls as Covid-19 Darkens Eurozone’s Economic Outlook The Euro to Pound (EUR/GBP) exchange rate fell today, with the pairing currently trading around £0.910. The Euro (EUR) fell against the Pound (GBP) after Christine Lagarde, the President of the European Central Bank (ECB), expressed concerned over inflation. Yohay Elam, an analyst at FXStreet, explains: ‘The ECB is worried about weak...

GBP/CAD Exchange Rate Rangebound Canadian Covid-19 Cases Rise The Pound to Canadian Dollar (GBP/CAD) exchange rate held steady today, with the pairing currently trading around CA$1.722. The Canadian Dollar (CAD) has suffered today ahead of the US presidential debate between Donald Trump and Joe Biden. As a result, the risk-averse ‘Loonie’ has remained under pressure owing to America’s heightened political...

The US Dollar’s rebound rally appears to have paused for now, and the British Pound to US Dollar (GBP/USD) exchange rate is calming ahead of what could be a major few sessions for the pair. Markets are highly anticipating tonight’s US Presidential Debate, and Brexit developments could also be hugely influential for the pair in the coming sessions. After tumbling from the level of 1.2918 to 1.2742 last week, GBP/USD has...

With the Norwegian Krone still under broad pressure and weakness, the British Pound to Norwegian Krone (GBP/NOK) exchange rate is continuing its impressive advances this week. While the Norwegian Krone’s weakness has played a big part in the pair’s huge gains lately, UK Brexit and coronavirus speculation is helping the Pound to capitalise on that Krone weakness and push the pair to its best levels in months. The Norwegian...

The Pound to New Zealand Dollar (GBP/NZD) exchange rate benefitted from comments made by Bank of England (BoE) deputy governor Dave Ramsden. As Ramsden talked down the possibility of negative interest rates this offered a rallying point to the Pound, with fears of a potential rate cut fading. This helped to undo the impact of earlier comments from fellow BoE policymaker Silvana Tenreyo, who had expressed a more positive...

Underwhelmed Reaction to UK Chancellor’s Plan Limits Pound South African Rand (GBP/ZAR) Exchange Rate Strength Muted market reaction UK Chancellor Rishi Sunak’s newly announced Winter Economic Plan saw the Pound Sterling to South African Rand (GBP/ZAR) exchange rate falter. Investors were ultimately disappointed by the level of fiscal support pledged in the announcement, with the government scaling back its commitment to...

Rise in Covid-19 Anxiety Pushes Pound Swiss Franc (GBP/CHF) Exchange Rate Lower A fresh surge in Covid-19 anxiety and safe-haven demand saw the Pound Sterling to Swiss Franc (GBP/CHF) exchange rate slump sharply on Monday. With a number of economies around the world appearing set to end into fresh lockdown measures in response to a second wave of infections demand for the Swiss Franc picked up. The safe-haven asset...

Investors sold the British Pound to New Zealand Dollar (GBP/NZD) exchange rate back from its weekly highs yesterday. As markets continued to digest Britain’s latest fiscal policy support, the New Zealand Dollar has been able to rebound slightly from its poor performance this week. Despite lingering bets that the Reserve Bank of New Zealand (RBNZ) could become more dovish, the New Zealand Dollar’s bearishness has run out for...

Despite Britain’s fresh coronavirus restrictions this week, the British Pound to Australian Dollar (GBP/AUD) exchange rate has been climbing all week. This comes as the Australian Dollar is throttled by the market’s aversion to risk and trade-correlated currencies, as well as speculation of a more dovish Reserve Bank of Australia (RBA). The Pound, on the other hand, is firming as investors await upcoming news from the UK...