Daily Currency Updates

Markets remain convinced that US and ECB interest rates will not be increased further, especially with evidence of weakening inflation pressures. Markets are also confident that both central banks will cut interest rates next year. After jumping in Asia, gold posted sharp losses during the day which underpinned the dollar and the...

The US Dollar (USD) was subjected to sharp selling against the Euro (EUR) on Tuesday following a more dovish speech from Federal Reserve Governor Waller. The Euro to Dollar (EUR/USD) exchange rate broke above the 1.1000 level with 3-month highs at 1.1018 before a retreat to 1.0975 on Wednesday amid weaker-than-expected Euro-Zone...

The Pound to Euro exchange rate (GBP/EUR) has made headway on Monday and posted a 3-week high just above the 1.1540 level. Marke expectations surrounding potential Bank of England (BoE) rate cuts have been scaled back slightly in absolute terms and compared with the ECB which has underpinned the Pound. There is still an important...

The Euro to Dollar (EUR/USD) exchange rate has posted a three-month best just below 1.0950 as the dollar continued to lose ground and the Euro also received a positive surprise on the Italian credit rating. Danske Bank expects EUR/USD to test the 1.1000 level on a short-term view. According to Danske; “In the near-term, we still...

The Pound Sterling (GBP) moved to test the best exchange rate levels of two months against the US Dollar (USD) on Tuesday. Benign US inflation data was a key element in global markets on Tuesday with markets pricing out any further Fed rate hikes. In response, the dollar dipped sharply while risk appetite also improved sharply which...

Hawkish Fed rhetoric pulled the Euro (EUR) lower against the US Dollar (USD) on Thursday and CIBC expects the currency pair will weaken further to 1.03 at the end of 2023. At the time of writing, the Euro to Dollar exchange rate (EUR/USD) traded at 1.06699. In a speech on Thursday, Federal Reserve Chair Powell stated that the...

Regularly updated with the week's most important commentary on the FX markets, central bank moves, and macroeconomic data: BoE Analysis, Pound Sterling - Lloyds Bank 03/11: Lloyds Bank notes a 6-3 MPC vote to maintain rates at 5.25%, with GDP growth forecasts reduced and concerns over inflation, but Barclays Research anticipates...

The Pound to Euro (GBP/EUR) exchange rate is rangebound so far after recovering quickly from losses this morning. At the time of writing the GBP/EUR exchange rate is currently trading at around €1.1082. Pound (GBP) At Risk as Brexit Talks Thrown into Further Turmoil The Pound (GBP) opened today’s session with losses, though quickly...

Pound Sterling Danish Krone (GBP/DKK) Exchange Rate Muted as Denmark Posts Largest Trade Surplus Since March The Pound Sterling Danish Krone (GBP/DKK) exchange rate remained flat on Monday morning. This left the pairing largely flat and trading at 8.2593Kr. The Danish Krone was left flat against the Pound as data revealed inflation in...

Pound Chinese Yuan (GBP/CNY) Exchange Remained Muted as BoE Leaves Rates Unchanged The Pound Sterling Chinese Yuan (GBP/CNY) exchange rate remained muted and the pairing is currently trading at an inter-bank rate of ¥8.3771. On Thursday, the Bank of England (BoE) policymakers voted unanimously to leave interest rates unchanged at...