Will the pound rise or fall on the Bank of England decision?
Tomorrow is arguably one of the most important days for the pound this month with the latest Bank of England interest rate decision. Investors will pay close attention to this event to determine the latest twist and turns in economic policy, and it can shape behaviour of the relevant currency.
Typically, the raising and lowering of interest rates by a central bank will lead to changes in sentiment towards that currency, by making it more or less attractive to hold. This is in a similar...
Bank of England and UK Unemployment-Will Sterling rise against the Euro & US Dollar?
Bank of England due to hike interest rates but by how much?
With the Bank of England already having hiked interest rates many times during 2022 there is a strong likelihood of another interest rate hike coming next week.
The Bank of England are likely to announce an interest rate hike on Thursday 15th December. This would involve raising the base rate to 3.5% from the current level of 3%.
The UK inflation rate has recently hit a 41 year high and currently inflation sees little signs...
Is the pound set to weaken?
Sterling exchange rates hang in the balance
Sterling exchange rates once again hang in the balance following a subdued start to the week. Yesterday, the pound recovered most of the gains lost during Tuesdays session, however, struggled to break much higher.
Data released on Monday triggered the sterling sell-off after the pound had risen to monthly highs against the dollar and the euro towards the end of last week. PMI data confirmed the UK services industry contracted last month, which is negative for the country’s economic...
What the pound weaken or rise in December?
Sterling has been a mixed performer, of recent weeks rising and falling in the last few weeks as a range of factors dictate direction. Whilst overall, the pound has been performing more strongly since the lows of September and October, we are still well below some of the higher points of 2022.
Sterling of course suffered at the hands of the Liz Truss and Kwasi Kwarteng administration and the infamous 'mini-budget' that saw multi-year lows for sterling against the US dollar of 1.03 and GBPEUR...
GBP exchange rates climb despite warnings regarding the UK economy
The Pound begun the week in a volatile fashion yesterday, and traded in over a 1-cent range against the Euro after testing the 1.1650 handle once again.
We have now seen the GBP/EUR exchange rate test trading levels around 1.1650 at least 4-times in the last 3 months with yesterday being the latest example of this pattern. Yesterday morning during the earlier hours of trading GBP rebounded from the 1.1650 once again demonstrating that there is resistance at this level, so if you’re planning on...
Sterling remains rangebound, but could tomorrow’s economic data releases cause a spike?
Sterling exchange rates traded within a think range during yesterday’s trading session, with the GBP/EUR exchange rate trading within a range of just half a cent.
Since breaking above the 1.15 threshold the GBP to EUR exchange rate has mostly hovered between 1.1500 and 1.1550 and that’s where the pair are trading at the time of writing.
After quite a volatile month or two, especially in the wake of the Mini-Budget almost two-months ago, the markets seem pretty calm. This may continue throughout the week as...
Will the Pound rise after the Autumn Statement?
Autumn Statement and impact on Sterling exchange rates
The eagerly anticipated Autumn Statement was released yesterday which had the effect of calming the currency markets, much to the relief of anyone looking to buy Euros or buy US Dollars at the moment.
The statement included increased tax rates as well as a curb in public spending in an attempt to fill the void in public finances that the UK faces.
A stark warning was also given by the Office for Budget Responsibility as it warned that households...
UK Inflation Rises Once Again ! Will the Pound Rise or Fall on the...
UK Inflation has risen to 11.1%, which is a 41 - year high. The pound is weaker against many currencies on this news, as the damage of rising prices to the economy is considered.
Inflation has been a real problem for not just the UK, but also the global economy as central banks are forced to raise and adjust interest rates to combat the rise in prices of goods and services in the respective economies.
Sterling might typically be stronger on the back of expectations that...
Will the Pound recover its recent losses against the Euro?
Despite the rate of cable (GBP/USD) climbing as a result of US Dollar weakness, the Pound has been slowing softening against the Euro throughout November so far.
Between the middle to late October the Pound remained a good few cents above its current trading levels against the Euro, and even climbed above 1.1650 at one point offering Sterling sellers a good opportunity to make their GBP/EUR currency exchanges.
The climb in the Pound last month was a surprise as Sterling climbed by almost 10-cents from the...
Pound rises despite UK recession looming
The Pound Euro exchange rate has slowly started to increase in value during the course of the week after a slow start.
Bank of England governor Andrew Bailey suggested at the recent change of policy that the UK is heading for the worst recession in its history.
This caused the Pound to weaken but since then we have seen gradual gains vs the Euro, which has led to some good opportunities for anyone looking to send money to Europe at the moment.
The Bank of England has...
