Currency News: UK daily forex news and forecasts

BoE Haldane Throws in with the Hawks – Pound Australian Dollar (GBP/AUD) Exchange Rate Outlook Improves The Pound Australian Dollar (GBP/AUD) exchange rate traded lower on Friday, falling as investors responded to a weaker US Dollar (USD) by buying into riskier assets like the Australian Dollar. This occurred despite a rising tide of optimism for the Pound, with yesterday’s Bank of England (BoE) rate decision yielding a...

On Thursday, the Pound to US Dollar exchange rate opened in the region of 1.3173 and closed higher around 1.3247. This appreciation was thanks to the Bank of England (BoE) Monetary Policy Committee (MPC) meeting, which brought a pleasant surprise for GBP traders. It was revealed that although a majority of policymakers had voted for no change to interest rates again, formerly cautious official Andy Haldane had backed an...

On Wednesday, the Pound to New Zealand Dollar exchange rate opened in the region of 1.9081 and closed higher at 1.9178. UK domestic data proved supportive during the morning, when Confederation of British Industry (CBI) industrial orders stats showed forecast-beating levels of growth in June. Rising Support for BoE Interest Rate Hike Pushes GBP/NZD Exchange Rate Up The Pound (GBP) has risen by 0.5% against the New Zealand...

Pound US Dollar (GBP/USD) Exchange Rate Climbs as BoE Moves Closer to August Rate Rise The Pound US Dollar (GBP/USD) exchange rate stormed ahead on Thursday, bolstered by a surprising increase in the number of policy member votes for a rate rise at the June Bank of England (BoE) rate meeting. Investors were pleased to see that Chief Economist Andy Haldane had thrown his hat in with the hawks, putting their number up to 3...

ECB President Mario Draghi Reaffirms Dovish Bank Stance – Euro Pound (EUR/GBP) Exchange Rates Tumble The Euro Pound (EUR/GBP) exchange rate continued its steady fall on Wednesday as investors reacted to dovish statements from European Central Bank (ECB) President Mario Draghi at the banking conference in Sintra, Portugal. Mr Draghi essentially reaffirmed the ECB’s stance on monetary policy, asserting that the bank must...

On Tuesday, the Pound to US Dollar exchange rate opened around 1.3260 and closed lower at 1.3178. There was no real UK economic data out yesterday, which left uncertainty about a Brexit vote as the main influencer on the GBP/USD exchange rate. Sterling’s decline in value was because of uncertainty about how a Brexit amendment could affect the final deal reached between the UK and EU. GBP/USD Exchange Rate Ticks Higher...

Demand for safe haven currencies like the Swiss Franc has surged this week, due to market jitters surrounding the possibility of a US-sparked global trade war. This has been the primary cause of British Pound to Swiss Franc (GBP/CHF) exchange rate losses this week, but domestic factors have only exacerbated GBP/CHF losses. Concerns about European Central Bank (ECB) cautious made it easier for GBP/CHF to climb from 1.3200 to...

Monday’s trading session saw the Pound to US Dollar exchange rate open in the region of 1.3271 and close down lower around 1.3258. This slight deterioration came after the news that the British Chambers of Commerce (BCC) had downgraded its UK economic growth forecasts for both 2018 and 2019. This year’s predicted growth levels were cut from 1.4% to 1.3%, while 2019’s estimated levels of growth were reduced from 1.5% to...

As investors reassessed last week’s Central Bank developments and Britain’s economic outlook, the Euro to British Pound (EUR/GBP) exchange rate recovered slightly from its lows when markets opened on Monday. However, the pair has only recovered around half of the losses seen on Friday last week. Despite its sharp Friday fall, EUR/GBP didn’t actually shift much last week overall. EUR/GBP opened the week at the level of...

Last week, the Pound to Australian Dollar exchange rate opened in the region of 1.7638 and rose to close higher around 1.7838. This appreciation was caused by the news that the US Federal Reserve had decided to hike interest rates, which strengthened the US Dollar and devalued the AUD. Falling Confidence after BCC Forecasts Triggers GBP/AUD Exchange Rate Losses The Pound (GBP) has fallen by -0.3% against the Australian...