Currency News: UK daily forex news and forecasts

Pound Sterling South African Rand (GBP/ZAR) Exchange Rate Rallies on UK Election Optimism The Pound Sterling South African Rand (GBP/ZAR) exchange rate jumped over 1% this afternoon, leaving the pairing trading at around R19.1381. Sterling rallied at the start of the week as the chance of Prime Minister Boris Johnson’s deal being passed through parliament increased. The Prime Minister announced that all 635...

AUD/USD Exchange Rate Rangebound, US-China Trade Developments in Focus The Australian Dollar US Dollar (AUD/USD) exchange rate held steady today, with the pairing currently trading around US$0.681 after the risk-averse ‘Aussie’ benefited from increasing optimism around a ‘Phase One’ US-China trade deal. China’s news agency, Xinhua, reported that talks between the two superpowers over the weekend were...

GBP/AUD Exchange Rate Eases, Post-Brexit Gloom Weighs on Sterling The Pound Australian Dollar (GBP/AUD) exchange rate fell today, with the pairing currently trading around AU$1.893 as investor confidence in Sterling begins to slip on increasing gloom surrounding the UK’s economy post-Brexit. Neil Mellor, the Senior Currency Strategist at BNY Mellon, was downbeat in his assessment, saying: ‘My concern is – and this is...

Less Dovish BOC Commentary Limits Pound Sterling Canadian Dollar (GBP/CAD) Exchange Rate Support A lack of dovishness from Bank of Canada (BOC) Governor Stephen Poloz helped to keep the Pound Sterling to Canadian Dollar (GBP/CAD) exchange rate under pressure. As Poloz’s latest speech failed to drop any hints that the BOC is likely to ease monetary policy in the coming months the mood towards the Canadian Dollar saw a...

Underwhelming UK Retail Data Limits Pound Sterling US Dollar (GBP/USD) Exchange Rate Upside October’s UK retail sales data failed to impress investors, leaving the Pound Sterling to US Dollar (GBP/USD) exchange rate on a weaker footing. As sales excluding auto fuel unexpectedly contracted -0.2% on the month this undermined confidence in the resilience of the UK economy. With consumers showing less appetite for spending,...

UK election hopes boosting demand for the British Pound to New Zealand Dollar (GBP/NZD) exchange rate hasn’t been enough to help the pair to recover from yesterday’s slump, as the latest Reserve Bank of New Zealand (RBNZ) news has continued to support the New Zealand Dollar’s gains. The Pound’s potential for gains has also been limited amid a week of poor UK ecostats, but trade news has not been enough to knock the New...

Disappointing UK Inflation Sees Pound Sterling US Dollar (GBP/USD) Exchange Rate Struggle A weaker-than-expected UK consumer price index kept the Pound Sterling to US Dollar (GBP/USD) exchange rate on a softer footing on Wednesday. While forecasts had pointed towards an easing in the headline inflation rate investors were still disappointed to find that it had dipped from 1.7% to 1.5%. With inflation falling further below...

Poor UK datasets have not been enough to drag the British Pound to Australian Dollar (GBP/AUD) exchange rate lower, as despite the lack of fresh support for Sterling, the Australian Dollar has been weakened by US-China trade jitters and some underwhelming Australian data. Investors are still hesitant to move too much on the ‘Aussie’ either, amid anticipation for tomorrow’s anticipated Australian job market report. Strong...

Pound Sterling Euro (GBP/EUR) Exchange Rate Muted as Low UK Inflation Offers Households a Boost The Pound Sterling Euro (GBP/EUR) exchange rate was left muted as UK inflation fell, leaving the pairing trading around €1.1663. Sterling was left flat as data revealed UK inflation had fallen to an annual rate of 1.5%, its lowest level since November 2016. While today’s data is unlikely to panic the Bank of England (BoE),...

GBP/AUD Exchange Rate Rangebound, UK Unemployment Improves The Pound Australian Dollar (GBP/AUD) exchange rate steadied this morning, with the pairing currently trading around AU$1.877 after September’s UK ILO unemployment rate rose from 3.9% to 3.8% in September, its lowest since early 1975’s third quarter. However, Sterling’s gains were held back by falling UK average earnings, with September’s monthly figure...