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Currency News: UK daily forex news and forecasts

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Pound to Euro Nears 1.1720 After Mixed UK Jobs Data

16 Apr 2024 at 3 PM - Written by John Cameron

There was choppy Pound trading after Tuesday’s UK data, but the Pound to Euro exchange rate (GBP/EUR) secured a slight net advance to just above 1.1720. UK labour-market data was mixed with markets potentially waiting for Wednesday’s inflation data before taking a decisive view on the outlook for Bank of England (BoE) policy. Overall risk conditions will be important after a slide in European equities on...

CATEGORIES: Pound Euro Forecasts

Pound Sterling Forecast: Volatility to Remain Elevated

16 Apr 2024 at 7 AM - Written by David Woodsmith

Pound Volatility to Remain Elevated, GBP/USD Attempts to Recover from 4-Month Lows The Pound to Dollar exchange rate (GBP/USD)came under sustained pressure on Friday with a slide below 1.1500 and 4-month lows just above 1.2425. The dollar continued to see strong buying following the shift in Federal Reserve expectations. GBP/USD has recovered to 1.2480 on Monday but will need to establish a position back above 1.2500...

CATEGORIES: Pound Dollar Forecasts

Pound to Dollar Week Ahead Outlook: Banks Downgrade GBP/USD Forecasts

14 Apr 2024 at 3 PM - Written by David Woodsmith

Investment banks overall have tended to downgrade their Pound to Dollar exchange rate forecasts (GBP/USD). Credit Agricole and RBC Capital Markets were already forecasting 1.25 and 1.24 respectively for the end of 2024. ING has now dropped its forecast of GBP/USD gains to 1.30 or higher this year and is backing 1.25. The decisive development this week was stronger than expected US inflation data. The data triggered an...

CATEGORIES: Pound Dollar Forecasts

Pound to Euro Week Ahead Forecast: Retreat to 1.17, Fundamental Debate Continues

14 Apr 2024 at 3 PM - Written by John Cameron

RBC Capital Markets forecasts that the Pound to Euro exchange rate (GBP/EUR) will weaken to 1.1365 at the end of 2024, with UK fundamentals still fragile. In contrast, MUFG sees scope for further GBP/EUR gains, at least in the short term, due to a dovish ECB policy. GBP/EUR posted gains to 1.1725 after the ECB policy decision before a retreat to 1.1700. Interest rate expectations have been a key element during the...

CATEGORIES: Pound Euro Forecasts

Euro US Dollar Exchange Rate Forecast to Recover to 1.10: Nomura

14 Apr 2024 at 10 AM - Written by Frank Davies

Following this week’s developments, US Dollar bears have been forced into hibernation. ING has dropped its forecast that the Euro to Dollar (EUR/USD) exchange rate will trade above 1.10 this year. MUFG added; “We see further declines ahead.” EUR/USD posted sharp loses on the week as markets reassessed the outlook for US interest rates while the ECB action met dovish expectations. The main event of the week was...

CATEGORIES: Euro Dollar Forecasts

Pound to Euro Rate Outlook: Lagarde to "pre-announce" June rate cut

11 Apr 2024 at 12 PM - Written by John Cameron

After failing to make a significant challenge on 1.1700 on Wednesday, the Pound to Euro (GBP/EUR) exchange rate dipped to just below 1.1670 before a fresh recovery to 1.1690 on Thursday. Solid UK housing data, hawkish MPC rhetoric and expectations that the ECB will signal a June rate cut have supported the Pound. Notably dovish ECB rhetoric may, however, still be needed to propel GBP/EUR above 1.1700. Interest rate...

CATEGORIES: Pound Euro Forecasts

Dollar to Pound Exchange Rate Rallies as US Inflation Heats

11 Apr 2024 at 9 AM - Written by John Cameron

The US inflation data dominated markets on Wednesday. The dollar edged lower into the latest consumer prices release amid hopes for a moderation in inflation, but there was a sharp and substantial reversal as the data again came in above market expectations. Equity markets also reversed sharply with the FTSE 100 index, for example, sliding to around 7,920 after earlier flirting with the 8,000 level. The Pound to Dollar...

CATEGORIES: Pound Dollar Forecasts

Pound to Dollar Rate Secures Gains Ahead of Key US Inflation Data

10 Apr 2024 at 8 AM - Written by David Woodsmith

The Pound to Dollar (GBP/USD) exchange rate has edged higher to near 1.2685 on Tuesday as the dollar has lost ground against European currencies. US yields have continued to move in favour of the dollar over the past 24 hours, but the US currency has failed to benefit and Scotiabank sees scope for further GBP/USD gains if there is a sustained break above 1.2665. US developments are liable to dominate in the short term...

CATEGORIES: Pound Dollar Forecasts

Pound to Dollar: A Struggle to Hold 1.26

9 Apr 2024 at 7 AM - Written by David Woodsmith

Given concerns that US inflation data will again rattle markets this week, GBP/USD may struggle to hold above the 1.2600 level. The Dollar posted strong gains in an initial reaction to the US jobs data, but failed to hold the gains. In this context, the Pound to Dollar (GBP/USD) exchange rate found support around 1.2575 and rallied back above the 1.2600 level. ING noted the dollar’s failure to hold gains; “Perhaps...

CATEGORIES: Pound Dollar Forecasts

Pound to Dollar Week Ahead Forecast: Seasonal Trends in April to Support Sterling

7 Apr 2024 at 8 AM - Written by Frank Davies

Foreign exchange strategists at Nordea expect that the Pound to Dollar exchange rate (GBP/USD) will secure a limited advance to 1.29 at the end of 2024. MUFG and NatWest have similar forecasts of 1.30, but Danske Bank’s most recent update continued to forecast 1.18 at the end of 2024. Despite fluctuations during the week amid shifting US data releases, GBP/USD was little changed for the week just above 1.26. The...

CATEGORIES: Pound Dollar Forecasts