Currency News: UK daily forex news and forecasts

Pound Sterling Canadian Dollar (GBP/CAD) Exchange Rate Muted despite ‘Encouraging Start to 2020’ The Pound Sterling Canadian Dollar (GBP/CAD) exchange rate remained muted, leaving the pairing trading at around CA$1.7235. Sterling was provided with a boost after the latest flash PMI data showed that the private sector returned to growth in January. The UK PMI composite jumped from 49.3 in December to 52.4 in January,...

Despite US data continuing to be decent and a lack of fresh support for the Pound yesterday, the British Pound to US Dollar (GBP/USD) exchange rate was able to continue to hold its ground for most of the past day. The Pound could still see some sharp movements before markets close for the week depending on upcoming UK PMI results, while this afternoon’s upcoming US PMI data could also cause some US Dollar movement. Since...

GBP/AUD Exchange Rate Rangebound, RBA Rate Cut Odds Ease The Pound Australian Dollar (GBP/AUD) exchange rate fell by -0.5% today, with the pairing currently trading around AU$1.9102 after December’s Australian unemployment rate fell to a better-than-expected 5.1%, ending last year on a positive note. Gareth Aird, an Economist at CBA, was mixed in his response, however, commenting: ‘The unemployment rate is now on a...

Temporary Easing in Market Risk Aversion Knocks Pound New Zealand Dollar (GBP/NZD) Exchange Rate A general resurgence in market risk appetite saw the Pound Sterling to New Zealand Dollar (GBP/NZD) exchange rate knocked off its bullish trend on Thursday. While market anxiety over the spread of the coronavirus from China remained this was not enough to keep the New Zealand Dollar from recovering ground. As France gave in to...

GBP/AUD Exchange Rate Edges Higher as BoE Rate Cuts Odds Ease The Pound Australian Dollar (GBP/AUD) exchange rate rose by 0.6%, with the pairing currently trading around AU$1.917 after Sajid Javid, the UK Chancellor of the Exchequer, said that a full EU trade deal would be possible by the end of 2020. Mr Javid commented: ‘There is a strong belief on both sides that it can be done. Both sides recognise that it’s a tight...

Surge in UK Business Optimism Fuels Pound Euro (GBP/EUR) Exchange Rate Leap The Pound Sterling to Euro (GBP/EUR) exchange rate made strong gains on Wednesday, benefitting from a surprise return to positivity for the CBI business optimism index. As the index leapt from -44 to 23 on the quarter this encouraged investors to pile back into the Pound as fears of a future slowdown diminished. With businesses expressing a...

EUR/GBP Exchange Rate Falls as Eurozone Growth Continues to Weaken The Euro Pound (EUR/GBP) exchange rate fell by -0.3% today, with the pairing currently trading around £0.850 despite the release of stronger-than-expected German ZEW survey data for economic sentiment this month, with the figure rising from 10.7 to 26.7. Although the report showed a 4-year high, this wasn’t enough to boost the EUR/GBP exchange rate. ZEW...

Following a week of poor UK data in which the Pound was held back by Bank of England (BoE) interest rate cut bets, the British Pound to US Dollar (GBP/USD) exchange rate has seen a jump in demand today. The Pound is being supported by the latest UK job stats which are dousing Bank of England bets for now, while demand for the US Dollar has calmed following Friday and Monday’s gains. Last week saw GBP/USD putting in mixed...

Pound Sterling Australian Dollar (GBP/AUD) Exchange Rate Jumps as Employment Data Impresses The Pound Sterling Australian Dollar (GBP/AUD) exchange rate rallied on Tuesday morning, leaving the pairing trading at around AU$1.9022. Data revealed that jobs growth in the UK was the strongest in close to a year in the three months to November. This buoyed GBP as it could ease growing concerns the Bank of England (BoE) has...

Pound Sterling US Dollar (GBP/USD) Exchange Rate Flat as Markets Focus on BoE The Pound Sterling US Dollar (GBP/USD) exchange rate remained muted as US markets closed for Martin Luther King Day, leaving the pairing trading at around $1.2989. Sterling remained under pressure as the lack of notable economic data caused markets to shift their focus to the Bank of England’s (BoE) next interest rate decision. Investors...