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A round up of the latest Pound Sterling forecast news items from the Currency News desk.

Pound Sterling Outlook: Tensions Building Ahead of Next Week’s Crucial Inflation Data

19 May 2024 at 9 AM - Written by John Cameron

The dollar overall recovered ground on Thursday with a sense that markets may have overreacted to Wednesday’s US inflation data. From the Pound's perspective, tensions were building ahead of next week’s crucial inflation data. The Pound to Dollar (GBP/USD) exchange rate hit fresh 5-week highs at 12700 in Asia on Thursday before...

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Pound Sterling: UK Economy Back to Growth with an Impressive Rebound in GDP

12 May 2024 at 10 AM - Written by John Cameron

The UK economy grew by 0.6% in Q1. This follows on from two quarters of contraction. Real wage growth is a positive for the economy. The FTSE is rallying strongly while the pound remains stable. Friday caps a busy week for UK markets with the release of GDP data. This showed Britain has convincingly shifted away from the...

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BoE Analysis: Rate Cuts Coming, but Pound Sterling Pares Losses

9 May 2024 at 5 PM - Written by John Cameron

The Bank of England (BoE) Monetary Policy Committee (MPC) held interest rates at 5.25%, in line with consensus forecasts. A 7-2 vote and lower inflation forecasts boosted market expectations of a June rate which undermined the Pound, although it recovered from initial lows. The Pound to Dollar (GBP/USD) exchange rate dipped below...

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UK Housing Recovery Stalls, Pound Sterling Waits for BoE Rate Decision

9 May 2024 at 8 AM - Written by John Cameron

The Pound has maintained a soft tone in currency markets with expectations of a dovish tone by the Bank of England (BoE) in Thursday’s policy decision. There will inevitably be a spike in volatility following the decision with BoE guidance crucial. The Pound to Dollar (GBP/USD) exchange rate hit lows just below 1.2470 on...

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Pound Sterling Continues to Slide vs Euro and Dollar Ahead of Thursday’s BoE Meeting

8 May 2024 at 2 PM - Written by John Cameron

The pound is the weakest G7 currency in May so far. Meanwhile, the FTSE is showing relative strength and has been making new all-time highs. This indicates the market is anticipating and positioning for a dovish BoE meeting. The bank may signal a cut is likely in June, which could drop the pound even further. Markets are...

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Pound Sterling: Downbeat OECD Outlook Undermines GBP, EUR Below 1.17

2 May 2024 at 9 PM - Written by John Cameron

The Pound to Euro exchange rate (GBP/EUR) dipped to lows near 1.1680 in early Europe on Thursday before a recovery to near 1.1700. The Pound was undermined by a downbeat OECD assessment of the UK economy. In its latest update, the OECD downgraded the UK forecasts for this year and next with GDP growth forecast at just 0.4% for 2024...

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Pound to Dollar Rate Secures Net Gain to 1.2370

23 Apr 2024 at 11 AM - Written by David Woodsmith

European currencies have recovered some ground on Tuesday with increased optimism that strength in services will lead to a rebound in the economy. Equities have also posted net gains with the FTSE 100 index posting a record high at 8075 before a limited correction. Stronger equities should help underpin the Pound to some extent. In...

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Pound Sterling Today: GBP Gains as UK Inflation Higher than Expected

17 Apr 2024 at 9 AM - Written by Ben Hughes

St A lull in geopolitics and the Iran/Israel conflict has allowed markets to re-focus on the other main theme – inflation and central bank plans to cut rates. Tuesday’s session brought a raft of central bank speakers and Fed Chair Powell finally admitted a lack of further progress on inflation and a delay to cuts. “The recent...

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Pound Sterling Drops Against Euro and Dollar on Bank of England Dovish Shift

21 Mar 2024 at 4 PM - Written by John Cameron

The British Pound fell against the Euro, US Dollar and other major currencies on Thursday after the BoE kept rates and communication unchanged. The Pound to Euro exchange rate (GBP/EUR) slipped 0.29% to trade at 1.16667. The Pound to Dollar exchange rate (GBP/USD) plunged near 1% to trend at around 1.2671. However, the two remain...

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Pound Sterling Retreats Against Euro and Dollar as Long Positions Trimmed

19 Mar 2024 at 9 AM - Written by John Cameron

The Pound to Euro exchange rate (GBP/EUR) was unable to make headway on Friday and retreated below the 1.1700 level on Monday to trade around 1.1685. MUFG is still backing a medium-term GBP/EUR move to 1.2085. The Pound has been hampered by speculation that the Bank of England (BoE) will adopt a less hawkish stance at this week’s...

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