Pound to Dollar Rate Pares Losses

Pound Recovers Against the Euro and Is the Recovery for Sterling Here to Stay?

The pound to euro exchange rate has recovered towards the end of the week trading above 1.12 vs the euro during Friday afternoon’s trading session. The FTSE 100 has also started to show signs of recovery after some huge falls during the last few weeks. One of reasons why sterling exchange rates may have improved could be attributed to what is happening in the UK’s stock market as it appears as though investors are moving money back in to the FTSE100 and this has...
The Pound Continues Its Fightback

The Pound Continues Its Fightback

The pound has continued its fight back against the euro this morning with GBPEUR exchange rates climbing by 1%. At the start of the week the pound had slumped to multi year lows but over the last 3 trading days we have seen an increase in the pounds value. Some would argue that quite simply the pound has been purchased heavily in recent days due to the currency becoming extremely cheap and that’s the reason for the pound’s recovery. Why Did the Pound Fall Against...
GBP EUR Rallies After ECB Reduces Pandemic Support

Pound to Euro Exchange Rate: How COVID-19 Is Affecting the Pound

GBP/EUR exchange rates have been highly unstable at present with some of the most volatile periods of trading on record. Back in Mid-February the rates had pushed beyond the key resistance level of 1.20 and were sat on a 3.5 year high. However, since that point in time the pound may have best been described as ‘in freefall’ as the rates tumbled to 1.05 on the 19th March which was weakest time to buy Euros in 11 years since December 2008 amidst the financial...
GBP EUR Looks to Employment Figures for Support

Positive End to the Week for the Pound Despite PM and Health Secretary Being...

The pound looks set to end the week above 1.11 against the euro, which is a welcomed boast for the currency which has suffered big losses as the markets reacts to the outbreak and global spread of the Covid19 virus. At the start of the week the pound had fallen to 1.0639 against the euro, taking us back to lows last seen in August 2019. With it quickly becoming evident that the whole world would be hit financially by the spread of the coronavirus....
GBP USD Slips Ahead of BoE Rate Decision

Pound to Dollar Forecast: GBP to USD Rate Continues March Higher

Record number of Americans file for unemployment The dollar tanked against the pound yesterday in the wake of a disastrous employment report, propelling the GBP to USD rate above the 1.20 benchmark. A record number of people filed claims for unemployment in the US last week, as the coronavirus pandemic brought huge swaths of America’s economy to a grinding halt. Official Labor Department figures revealed that the number of claims rose to 3.3 million, smashing the previous record of 695,000 in October 1982 – fresh...
GBP EUR Drops Below 1.1800 Ahead of BoE Decision

Pound Edges up vs the Euro and When Should I Buy Euros?

The pound euro exchange rate has been recovering over the last few days seeing an improvement of over 7 cents since the recent low hit two weeks ago. The pound euro exchange rate had hit the lower levels of 1.05 before the Bank of England intervened by adding a huge amount of Quantitative Easing as well as cutting interest rates to just 0.1%. This helped support GBP exchange rates against a number of different currencies including vs the US dollar which had hit their lowest...
Pound to euro Awaits ECB Rate Decision for the Next Path

Pound to Euro Exchange Rate Tops 1.12 This Morning

The GBP to EUR interbank exchange rate reached a high this morning of 1.1208 despite market concerns over a prolonged battle against Covid-19. The global number of Covid-19 cases has exceeded 700,000 and it will not be long until the million mark is surpassed. Governments around the world continue to see what measures they will need to take to stimulate their own domestic economies against the economic damage caused by the virus. Heated Discussion Between EU-27 Leaders There was a heated debate by the EU-27 leaders last...
Pound to Dollar Rate Choppy Ahead of BoE Meeting

US Dollar Weakens Against the Pound After Further US Jobless Claims

The Pound has started to fight back vs the US Dollar over the last few days and had a huge recovery vs the Greenback yesterday. The US confirmed that 3.28million workers filed for unemployment insurance following the recent virus outbreak. GBPUSD exchange rates managed to break just above 1.22 which is approximately 8 cents higher than the recent lows seen earlier this month. Indeed, the US Dollar hit its best level vs the Pound in 35 years creating some excellent opportunities to sell US Dollars...
Pound to Australian Dollar Exchange Rate Summary: GBPAUD Rises to Two Week Interbank Highs

Bank of England Holds Rates as Economy Begins to Feel the Squeeze

The Bank of England left the base rate unchanged at 0.1% and their quantitative easing programme at £645bn, in line with market expectation although noted that it was prepared to increase its asset buying should financial conditions tighten, and its clear from economic data released this week, the UK economy is beginning to feel the squeeze. Chancellor, Rishi Sunak confirmed that the self-employed will be able to claim up to 80% of their average monthly profits, worth up to £2,500 per month, although the scheme...