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Latest Currency News Continued - page 12

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Latest Currency News Headlines

Euro to Dollar Rate Rallies from 6-Week Lows on Global Rate-Cut Bets

27 Jan 2024 at 8 AM - Written by David Woodsmith

The choppy trend in currency markets continued in European trading on Friday with the Euro recovering from fresh 6-week lows to trade higher on the day. Stronger equities and hopes for concerted interest rate cuts this year helped support the Euro in global markets with the dollar unable to capitalise on evidence of firm US growth. The Euro to Dollar (EUR/USD) exchange rate rallied from lows just below 1.0815 to trade...

CATEGORIES: Euro Dollar Forecasts

Pound to Euro Rate Week Ahead Forecast: Focus Turns to Bank of England

27 Jan 2024 at 8 AM - Written by John Cameron

The Pound to Euro exchange rate spiked higher after Thursday’s ECB policy meeting with a 5-month high of 1.1730 and held above 1.1700 on Friday to trade around 1.1715. Expectations of a more dovish ECB policy sapped Euro support with the focus now moving to the Bank of England. According to ING, EUR/GBP is closing in on major support at 0.8500 - but a break below it looks highly unlikely ahead of next Thursday’s Bank...

CATEGORIES: Pound Euro Forecasts

Pound to Dollar Outlook: Sterling Dips to test 1.2700 on Firm US GDP Data

26 Jan 2024 at 1 PM - Written by Tim Boyer

The latest UK data failed to provide further Pound support during Thursday. US releases overall were solid, but the main market move was a slide in the Euro as the Euro to dollar (EUR/USD) exchange rate dipped sharply to below 1.0850 after the ECB policy statement. The Pound overall was mixed on the crosses and Euro weakness dragged the Pound to Dollar (GBP/USD) exchange rate lower with a test of the 1.2700 level. The...

CATEGORIES: Pound Dollar Forecasts

Euro to Dollar FX Forecast: "Prone to a retest of the low/mid 1.08s" say Scotiabank

26 Jan 2024 at 1 PM - Written by John Cameron

ECB Lagarde Fails to Deliver Hawkish Rhetoric, EUR/USD Exchange Rate Retreats to near 1.0850 US data releases were mixed on Thursday while markets priced in slightly more interest rate cuts by the end of 2024 following the latest ECB policy decision and press conference. In this environment, the Euro drifted lower with the Euro to Dollar (EUR/USD) exchange rate declining to near from highs at 1.0900, although overall...

CATEGORIES: Euro Dollar Forecasts

Pound to Euro Rate Hovers Around 1.172 - GBP/EUR News

26 Jan 2024 at 1 PM - Written by Tim Boyer

The Pound to Euro exchange rate briefly moved above the 1.1700 level after the stronger-than-expected business confidence data on Wednesday, but failed to sustain the gains and settled just above 1.1690. GBP/EUR will have scope for gains if the ECB forward guidance is less hawkish than expected later in the day. Otherwise, resistance may be tough to break down. The Euro-Zone data has remained weak, but the Euro has been...

CATEGORIES: Pound Euro Forecasts

Pound to Dollar Outlook: "Another test of 1.28+ levels would not surprise" say Scotiabank

25 Jan 2024 at 8 AM - Written by David Woodsmith

Dollar and Pound Benefit from Upbeat Data, GBP/USD Exchange Rate Holds Below 10-Day highs The Pound to Dollar (GBP/USD) exchange rate jumped to highs at 1.2775 after stronger than expected UK PMI data, but the Pound was unable to hold gains and retreated to 1.2740 after US data also beat market expectations. The UK PMI manufacturing index increased to a 9-month high of 47.3 from 46.2 in December and above consensus...

CATEGORIES: Pound Dollar Forecasts

US Canadian Dollar Rate Outlook: "USD/CAD to find good demand below 1.34 mark" say ING

25 Jan 2024 at 8 AM - Written by John Cameron

Bank of Canada Drops Talk of Higher Interest Rates, GBP/CAD Exchange Rate Hits 7-Week Highs The Bank of Canada held interest rates at 5.00% following the latest council meeting, in line with consensus forecasts. The bank provided no clear guidance on rates, but the Canadian dollar lost ground as the bank statement dropped references to the risk of further interest rate hikes. Markets were, therefore, comfortable with...

CATEGORIES: Canadian Dollar Forecasts Pound Canadian Dollar Forecasts

Pound to Euro Forecast: "Sterling Longs Best Played vs Cyclically Weak Currencies"

25 Jan 2024 at 8 AM - Written by John Cameron

Boost to Pound Sentiment as PMI Data Again Beats the Euro Area, GBP/EUR Exchange Rate Hits 4-Month Highs The latest business confidence data has reinforced market expectations that the UK economy will out-perform the Euro-Zone over the next few months at least. After trading in a 1.1680-1.1700 band during Tuesday, the Pound to Euro (GBP/EUR) exchange rate strengthened to 4-month highs just above 1.1710. There is now a...

CATEGORIES: Pound Euro Forecasts

HSBC Forecast: US Dollar Strength to Continue Against Euro, Pound Sterling

24 Jan 2024 at 8 AM - Written by John Cameron

Pound Unable to Defy Stronger Dollar, GBP/USD Exchange Rate Retreats to 1.2650 The dollar lost ground during Tuesday’s Asian session as the yen posted gains, but the US currency rebounded strongly later in the day and USD/JPY traded around daily highs at 148.60 from lows at 147.00. Although Pound sentiment was firm after favourable government borrowing data, the Pound was unable to hold its ground against a stronger...

CATEGORIES: Pound Dollar Forecasts

Pound to Euro Exchange Rate: EUR Buyers See 6-Week Best Rates

24 Jan 2024 at 8 AM - Written by Ben Hughes

The combination of stronger-than-expected UK government borrowing data and benign risk conditions have underpinned the Pound in global markets. The Pound to Euro exchange rate posted a marginal 6-week high at 1.1690 as markets priced in larger tax cuts ahead of the March budget. GBP/EUR, however, was unable to make a decisive break above 1.1690 and the UK currency has hit resistance here for the last four...

CATEGORIES: Pound Euro Forecasts