Currency News: UK daily forex news and forecasts

Pound Canadian Dollar (GBP/CAD) Exchange Rate Rises on Record High UK Public Finances Surplus This morning the Pound Canadian Dollar (GBP/CAD) exchange rate rose by 0.4%, and the pairing is currently trading at an inter-bank rate of CA$1.7248. Data this morning revealed that public finances hit a record surplus of £14.9B in January due to a surge in income tax payments. This marked the strongest January since records...

While market demand for the US Dollar was a little stronger since last night’s Federal Reserve meeting minutes report, the British Pound to US Dollar (GBP/USD) exchange rate held near its best levels today. The Pound found support from fresh Brexit speculation and some stronger than expected UK data. Since opening this week at the level of 1.2893, GBP/USD has trended with an upside bias. GBP/USD edged higher at the beginning...

The Pound Australian Dollar (GBP/AUD) exchange rate is currently trading in the region of AU$1.8180, unchanged from the day’s opening levels. The Australian Dollar held firm against the Pound (GBP) today despite the release of the Australian wage price index figures for the fourth-quarter coming in at a below-expected 0.5%. Jeremy Thorpe, a Chief Economist at PwC, commented: ‘Ongoing below-trend wages growth is the...

The Pound New Zealand Dollar (GBP/NZD) exchange rate has fluctuated over the course of the session, with the pairing currently trading in the region of NZ$1.8960. Today’s headlines have been full of the news that three members of Prime Minister Theresa May’s Party have resigned to join an independent group set up by former Labour MPs. In a letter addressed to the PM, MPs Anna Soubry, Sarah Wollaston and Heidi Allen...

The Brexit speculation and hopes that gave the British Pound to Euro (GBP/EUR) exchange rate a leg up yesterday quickly lightened today, as the pair slipped from its best levels. Fresh political uncertainties emerged in Britain too, putting further pressure on the Brexit-embattled Pound. Could GBP/EUR be in for a bigger shift in trajectory this week? Since opening the week at the level of 1.1414, GBP/EUR has generally trended...

Mixed UK data and Brexit uncertainties didn’t prevent the British Pound to US Dollar (GBP/USD) exchange rate from extending its recovery attempts today, as Pound investors reacted with optimism to some stats while the US Dollar’s strength was limited by optimism surrounding US-China trade developments. Last week saw GBP/USD trending largely with a downside bias. The pair opened the week at the level of 1.2935 before...

GBP/ZAR Exchange Rate Soars on South African Economic Concerns The Pound South African Rand (GBP/ZAR) exchange rate soared 0.9% higher today, and is currently trading in the region of R18.3906. The South African Rand is coming under considerable pressure today as the South African government continues to provide financial support to South Africa’s major private electricity supplier, Eskom, which is currently facing a major...

Pound (GBP) Exchange Rates Flat as UK Wage Growth Stalls The Pound Euro (GBP/EUR) exchange rate traded in a narrow range on Tuesday morning after the UK’s latest labour figures failed to elicit much of a response from GBP investors. This likely comes as a result of UK wage growth undershooting expectations at the end of last year. According to data published by the Office for National Statistics (ONS) UK wage growth...

Rising Risk Appetite Supports Euro US Dollar (EUR/USD) Exchange Rate The Euro US Dollar (EUR/USD) exchange rate rose to $1.1322 on Monday. The pairing edged ever so slightly higher despite the lack of data from Eurozone and US markets being closed for President’s day. The Euro was able to gain on the US Dollar as risk appetite improved on the back of hopes for a US/China trade deal. Adam Cole, a Currency...

After a plummet last week on Reserve Bank of New Zealand (RBNZ) and Brexit news, the British Pound to New Zealand Dollar (GBP/NZD) exchange rate’s movement has steadied this week. Investors were hesitant to keep buying the New Zealand Dollar higher and sold it slightly from its best levels in profit-taking. Last week saw GBP/NZD open at the level of 1.9187, before spending most of the week plunging. After touching a fresh...