Currency News: UK daily forex news and forecasts

Pound sentiment is relatively cautious with doubts over the near-term economic outlook, but reservations elsewhere, including weaker than expected US data has protected the Pound. Friday’s US jobs data is likely to be pivotal for near-term direction. The Euro remains broadly on the defensive due to political and economic concerns while the dollar is also being hampered by seasonal factors. The Pound to Dollar...

The Pound Euro (GBP/EUR) exchange rate traded mostly sideways on Thursday following the release of the Eurozone’s latest retail sales data. On Thursday, the Euro (EUR) gained strength against several other currencies but remained subdued against the Pound (GBP) despite the release of some underwhelming domestic data. The Eurozone's retail sales index for October dropped from 0.5% to -0.5%, falling short of the...

The Pound US Dollar (GBP/USD) exchange rate posted modest gains on Thursday as a cautiously upbeat mood boosted the currency pair. The Pound (GBP) traded without clear direction on Thursday, lacking impetus due to an absence of UK economic data. However, the increasingly risk-sensitive currency managed modest gains against its safer counterparts, buoyed by a broadly positive market mood. Investor sentiment showed...

Barnier lost Wednesday’s no-confidence vote. He is expected to stand down on Thursday and his controversial budget will be shelved. The market impact has been contained and the euro is steady and at higher lows compared to November. French PM Barnier was ousted on Wednesday by a vote of nonconfidence. He will stand down on Thursday and had this to say, “This no-confidence motion … will make everything more...

The Pound to Euro (GBP/EUR) exchange rate has held comfortably above 1.2000 and secured a net gain to around 1.2070. The pair was on track for the seventh successive daily gain amid increased fears over Euro-Zone stagflation. According to ING; “Be it European political risk, weak activity, the threat of trade wars or energy prices creeping higher (EU gas inventories are starting to come under pressure) there are many...

The Pound Euro (GBP/EUR) exchange rate was mostly flat on Wednesday following the release of the UK’s and the Eurozone’s finalised services PMIs. On Wednesday, the Pound (GBP) experienced a slight rise against several major currencies, driven by a mix of positive factors. Firstly, Bank of England (BoE) Governor Andrew Bailey's comments gave the Pound a lift, as he reaffirmed his commitment to a gradual easing of UK...

The Pound US Dollar (GBP/USD) exchange rate wavered on Wednesday as a variety of factors saw Sterling trade in a wide range. The Pound (GBP) faced fluctuations on Wednesday as shifting market sentiment, comments from the Bank of England (BoE), and fresh economic data drove mixed movements. Sterling initially gained support from a risk-on mood in markets. However, it came under pressure following comments from BoE...

The Pound US Dollar exchange rate was trapped in a narrow range on Tuesday following the release of the US’s latest JOLTs job openings for October. The US Dollar (USD) held steady against most of its counterparts on Tuesday following the release of the country’s latest JOLTs job openings data. The index surpassed market expectations, rising from a multi-year low of 7.372 million to 7.744 million, which was higher...

The Pound Euro (GBP/EUR) exchange rate treaded water on Tuesday following the publication of some mid-tier UK data, in the form of the latest BRC retail sales monitor. The Pound (GBP) maintained its ground against most of its counter currencies on Tuesday, despite a lacklustre economic data release. The UK's most recent BRC retail sales monitor significantly missed its target, with the index dropping from 0.3% to -3.4%,...

French politics have been unsettled ever since the election, but there is now a high risk the coalition falls apart. PM Barnier pushed through his controversial budget but now faces a no confidence vote on Wednesday evening. The euro has stayed steady even while French yields have climbed. Will Le Pen trigger a fresh crisis? Despite some relative weakness on Monday, the euro managed to hold higher lows against the...