Currency News: UK daily forex news and forecasts

EUR/USD Exchange Rate Sinks as Eurozone Economic Outlook Darkens The Euro to US Dollar (EUR/USD) exchange rate fell by -0.4% today after March’s Eurozone composite PMI report fell deeper into contraction territory than previously forecast, with the figure falling from 31.4 to 29.7. The pairing is currently trading around $1.07. Chris Williamson, the Chief Business Economist at HIS Markit, was downbeat in his assessment, and...

Pound Sterling New Zealand Dollar (GBP/NZD) Exchange Rate Rises as Coronavirus Weighs on Risk Appetite The Pound Sterling New Zealand Dollar (GBP/NZD) exchange rate edged around 0.3% higher, with the pairing trading at around NZ$2.1005. The New Zealand Dollar edged slightly lower against a handful of its rivals on Friday as investors await the US jobs data. This afternoon’s US non-farm payrolls will reveal just how bad the...

Despite a lack of fresh support for the Pound today, the British currency continues to advance on rival weakness and the Euro to British Pound (EUR/GBP) exchange rate fell further. Demand for the Euro remains limited as investors become increasingly concerned about differences between EU leaders over the idea of EU-wide fiscal stimulus such as ‘coronabonds’. The Pound is gaining on rivals and overall market sentiment but its...

Pound Sterling Swiss Franc (GBP/CHF) Exchange Rate Rises on Weak Swiss Inflation The Pound Sterling Swiss Franc (GBP/CHF) exchange rate rallied on Thursday, leaving the pairing trading at around 1.2042Fr. As the number of coronavirus cases in Switzerland increase, the Franc remained under pressure and the pairing rose. Today’s inflation data revealed that Swiss consumer prices slumped by an annual rate of -0.5% in...

GBP/CAD Exchange Rate Edges Higher, Sinking Oil Prices Drag Down CAD The Pound to Canadian Dollar (GBP/CAD) exchange rate rose by 0.6% today as tumbling oil prices continue to weigh on the oil-sensitive ‘Loonie. The pairing is currently trading around CA$1.757. Analysts at JBC Energy echoed Canadian Dollar investors’ concerns, saying: ‘Demand is falling so fast relative to supply that very soon many producers' main...

Pound Sterling Canadian Dollar (GBP/CAD) Exchange Rate as Crude Oil Suffers Largest Quarterly Loss The Pound Sterling Canadian Dollar (GBP/CAD) exchange rate rallied this morning, rising by around 1%. This left the pairing trading at around CA$1.7636. The oil-sensitive ‘Loonie’ suffered losses today after oil slumped to $25 a barrel, and was within sight of its lowest in 18 years. The slump in prices followed a US...

GBP/EUR Exchange Rate Edges Higher, Eurozone ‘Coronabonds’ Divide Sparks EU Fears The Pound to Euro (GBP/EUR) exchange rate rose by 0.7% today, with the pairing currently trading around £1.129. The Euro (EUR) following this afternoon’s release of the Eurozone’s preliminary core inflation report for March, which fell to a worse-than-expected 1%, while headline inflation fell from 1.2% to 0.7%. Bert Colijn, ING’s...

GBP/ZAR Exchange Rate Edges Higher as Risk-Off Markets Weaken Rand The Pound South African Rand (GBP/ZAR) exchange rate rose by 0.7% today after the credit ratings firm Moody’s downgraded the South African currency to ‘junk’ status. The pairing is currently trading around R22.075. Bianca Botes, a treasury partner at Peregrine Treasury Solutions, commented: ‘The decision by Moody’s could not have come at a worse...

Pound Sterling Euro (GBP/EUR) Exchange Rate Rises as German Recession Inevitable The Pound Sterling Euro (GBP/EUR) exchange rate edged higher today, leaving the pairing trading at around €1.1198. The single currency remained under pressure today, as Germany’s council of advisors warned that output in the country could shrink by up to 5.4% this year. They also noted that the outbreak has made a recession in the...

Global Growth Worries Bolster Pound Australian Dollar (GBP/AUD) Exchange Rate Fresh concerns over the global growth outlook helped to keep the Pound Sterling to Australian Dollar (GBP/AUD) exchange rate on a positive footing ahead of the weekend. As Chinese factory profits saw their largest slump on record in the first two months of the year this stoked renewed anxiety over the health of the wider global economy. This put...