GBP USD Exchange Rate Plunges to Lowest Since September 2020

Pound Sterling Forecast – Bank of England Decision today 

How will the pound react today? The Bank of England hold their latest interest rate decision at midday today, 12pm UK time. No change in interest rate policy is expected, but such events do have the power to move markets and are worth being aware if considering any sterling trades in the coming days, weeks and months. Sterling has recently been trading at strong levels against many currencies including the Euro, Australian dollar, New Zealand dollar,...

Sterling hits September high vs the Euro

GBP Last week, we witnessed the release of numerous readings of economic data across the UK, having significant impact on the strength of the British pound.  On Tuesday, we experienced data release of the average earnings. A slow rise in the average earnings was recorded, but regarded promising for the strength of the pound as it takes pressure off the Bank of England- the central bank- by easing inflationary pressure. In theory, this should slow down inflation which may...
GBP EUR Hits New Yearly Highs as Inflation Soars

Pound Euro rates hit highest since September 2023

Today is a key day for financial markets with the latest Eurozone Interest Rate decision. For those unfamiliar, the European Central Bank (ECB) is the central bank for the Eurozone and meets today to discuss interest rate policy. With sterling trading at its strongest in 2024 against the Euro, now is a very important time to be tracking levels. Today’s news has real potential to either upset the current trend or extend it further. If you are buying or...

GBPEUR hits 1.17 – will the pound continue to rise?

GBPEUR exchange rates rose to 4-month highs during yesterday’s session, hitting 1.17 on the interbank market. Sterling is trading 0.6% off the 52-week high against the euro, making now an opportune time for sterling sellers. Sterling has remained resilient against the dollar, holding above the key threshold of 1.27. Cable (GBPUSD) rates are 0.7% off the 5-month high. Services & Manufacturing data Purchasing Managers Index (PMI) surveys senior executives within the manufacturing and...

Will GBP exchange rates remain strong despite recession fears?

Last week saw the Pound to Euro break above the 1.1650 handle for the first time this year, after remaining rangebound between 1.1600 to 1.1650 since the start of 2024. The GBP/EUR pair have begun the week above 1.1650 even if only just, so the trend for the pair is gently climbing despite there being concerns for the UK economy falling into recession. Retail Sales figures for December were released last week and came out below...
GBP EUR Exchange Rate: Weekly Review July 16  

When will the Bank of England begin cutting interest rates, and how could this...

The Pound traded within a very tight range last week, as currency markets have begun the year in quite a muted fashion. There was a range of just 115 pips for the GBP to EUR exchange rate, and the EUR to USD exchange rate traded within a range of just 80 pips. The EUR to USD exchange rate is the world’s most traded currency pair so this demonstrates how quiet markets were last week. Throughout much...

Will the Pound rise against the Euro?

2023 was a difficult year for many countries and their respective economies around the world as inflation was high at the start of the year. Inflation has rocketed in many nations after the pandemic with the UK rising to its highest level in decades. Many people feared it would continue to rise but in recent months inflation has started to come under more control and closer to the target of 2%. With the Bank of...

What’s in store for Sterling in 2024?

The begin to the year for sterling exchange rates has been a mixed bag. The pound is slightly stronger vs the euro in 2024 but has lost some value against the dollar over the first week’s trading. Forecast data collated by Lumon from around 50 big banks and institutions, Nomura, BNP, Standard Chartered to name a few, currently suggests that we could see a weaker pound moving forward into 2024. There is a clear bias for...
GBP EUR Exchange Rate: Week in Review October 9th

Pound Sterling Forecast for October

Are we more likely to see the pound rise or fall in October? Expectations for the pound see a number of different forecasts which may well influence any decision to buy or sell sterling. The currency markets are not totally predictable. However, by assessing previous behaviour and past performance, it is possible to make predictions. By looking at upcoming events, we can make some judgment calls on what might happen in the future, based on how the FX markets have responded in the past. Pound to Euro forecast...

Will the Pound recover after having its worst month for a year?

The outlook for Sterling exchange rates changed in September, with the Pound experiencing its worst performance for a year against the US Dollar. After having a very strong first half of 2023, when the Pound was the strongest performer within the G10 group of countries, the Pound remained quite rangebound for a couple of months but now there seems to be a bias to the downside. September was the worst month for GBP/USD for a year, and GBP/EUR saw the biggest 1-month drop since December last...