Currency News: UK daily forex news and forecasts

There was choppy Pound trading after the latest UK jobs data, but the Pound to Euro (GBP/EUR) exchange rate settled with a small gain to 1.1855. ING expects strong GBP/EUR resistance close to 1.19. There are very strong expectations that the Bank of England (BoE) and ECB will cut interest rates again before the end of this year. Traders, however, expect that the ECB will cut rates at least twice while the most likely...

The Pound US Dollar (GBP/USD) exchange rate moved without a clear direction on Tuesday following the release of the UK’s latest employment data. The Pound (GBP) saw a modest rise following the announcement of the UK's employment statistics for July. The unemployment rate in Britain has dipped to 4.1%, aligning with forecasts and showing a decrease from earlier highs this year. Despite this positive trend, the wage...

The Pound Euro (GBP/EUR) exchange rate edged higher on Tuesday following the publication of the UK’s latest employment data alongside Germany’s finalised inflation reading. The Pound (GBP) drifted higher against most major currencies on Tuesday following the release of the UK's latest labor market data. The unemployment rate dropped to 4.1% in July, down from 4.2%, while average earnings (excluding bonuses) eased...

The dollar has recovered ground with the Pound to Dollar (GBP/USD) exchange rate below 1.3100 and close to 2-week lows. Following the key US jobs data and Federal Reserve comments, sentiment has shifted towards a smaller 25 basis-point US interest rate cut at next week’s policy meeting. This shift has supported the dollar with the currency index recovering to 101.50 from last week’s low near 100.50. According to...

The Pound Euro (GBP/EUR) exchange rate moved without a clear direction on Monday despite a prevailing risk-off market mood. At the time of writing GBP/EUR was trading at €1.1841, virtually unchanged from Monday’s opening rate. The Pound (GBP) experienced a slight decline on Monday amidst a globally cautious trading atmosphere. The Pound's increasing sensitivity to risk influenced its exchange rates, which were...

The Pound US Dollar exchange rate ticked lower on Monday as a souring market mood weighed on the pair. At the time of writing, GBP/USD was trading at approximately $1.3081, down roughly 0.3% from the start of Monday’s session. The US Dollar (USD) gained traction against the majority of its peers on Monday as investors turned to safer assets amid a risk-off sentiment. This shift boosted the ‘Greenback’ on Monday...

There remains an intense debate over the state of the US economy, the potential Federal Reserve policy reaction and the dollar impact. Markets are also having to contend with political uncertainty with November US elections less than two months away. The Pound is a relative oasis of calm with evidence of steady growth and a cautious Bank of England. The data during the week clearly indicated a weaker labour...

MUFG expects the Pound to Euro (GBP/EUR) exchange rate to edged lower to 1.17 by the second quarter of 2025. In contrast, Barclays expects resistance levels will eventually break with the potential for GBP/EUR to strengthen to 1.21 over the medium term. GBP/EUR was held in relatively tight ranges during the week, but drifted lower amid limited selling pressure in equity markets. There are very strong expectations that...

The Pound to Dollar (GBP/USD) exchange rate hit highs at 1.3175 after Wednesday’s US data before settling around 1.3160 on Wednesday as weak data undermined the dollar. US data releases over the next two days will be extremely important for GBP/USD with high volatility inevitable, especially given the scope for very choppy trading in equities. GBP/USD could hit 30-month highs above 1.3265 or 3-week lows near 1.30...

The Pound US Dollar exchange rate firmed on Thursday following the latest ISM services PMI data from the US. At the time of writing, GBP/USD was trading at approximately $1.3158, roughly up 0.2% from the start of Thursday's session. The Pound (GBP) remained steady against the majority of its counterparts on Thursday despite a lull in UK economic data releases. The currency was boosted by an overall sense of economic...