Brexit Talks and Average Wage Growth set to cause volatility for Sterling (Daniel Johnson)

Brexit Negotiations continue to dictate the Pound’s value Theresa May will be in with her cabinet minsters this week at Chequers until they have set out the frame work for a Brexit plan that includes a high level alignment between UK and EU laws. May hopes to unite leavers and remainers from her cabinet in order to push forward Brexit negotiations. She will attempt to reassure Eurosceptic ministers that Britain will be able to move away from EU rules over time under “managed divergence”. They are expected...

Sterling exchange rates continue to weaken, will next week bring change for the Pound?

The financial markets are geared up for what could be a busy week for GBP exchange rates next week. For the past month or so now the value of the Pound has been influenced by expectations of what the Bank of England will do at their next meeting on the 10th of May, one week from now. At one stage markets were pricing in an interest rate hike completely. The expectation was for a move upward to 0.75% which would be the highest level since...

GBP Forecast – Will the Pound Continue to Gain in Value This Week? (Matthew...

Much of today’s focus centered around UK Chancellor Philip Hammond’s Spring Statement, which was predictably upbeat and bullish in its delivery. The Chancellor signaled stronger growth, despite the on-going market concerns around Brexit, with UK Gross Domestic Product (GDP) forecasts upgraded from 1.4% to 1.5%. Whilst this was only a modest improvement, the government also expect borrowing to decrease throughout the year and inflation to fall back to their 2% target by 2019. The Pound reacted positively throughout the day, making gains against most of the...

Sterling slides after BoE interest rate decision. Still best rates for buying the USD...

The pound has weakened today after we learnt that the Bank of England kept their base rate of interest on hold at 0.5% for the month of April. It also left its Asset purchasing programme on hold too. We were not expecting any rate hike which would have strengthened the pound and GBP/EUR is now at 1.2076 GBP/USD 1.6780 GBP/AUD 1.7810. Now until the bank of England look at hiking interest rates we will not see any real significant...

London Terror attack 03/06/17 (Joshua Privett)

Once more on this website it is with a heavy heart that I must report on another terror attack, and for the third time since March, this is on UK soil. At the time of writing 7 people have been confirmed killed, in addition to the three attackers who were shot and killed, and 48 are currently being treated in hospital. Whilst discussing currency at this moment seems trivial, the potential impact on buying and selling Euro and Dollar rates must be addressed, in conjunction with...
Supreme Court to Decide Whether Proroguing of Parliament is Lawful

Cameron vs Miliband – Exchange Rate Forecast – ( Andrew Bromley )

Euro buyers had a shock window of opportunity yesterday evening, with that window still currently slightly open... After poor UK export data this week analysts have predicted an artificial weakening of the Pound, in order to kick-start sales of goods to our Eurozone counterparts. As the Euro has been the weakest major currency and our key trading partner - we've suffered as a result. Mark Carney (Governor of the Bank of England) is in Frankfurt this morning, discussing all things debt. Although no surprises have surfaced, Carney...

GDP data key for Sterling, GBPUSD at 18 month high

It's a relatively quite day on the data front for the pound today, with the main focus on data from the US.  At 14:00 we have housing inflation figures, expected to show a reduction in prices, then at 15:00 we have two key releases; consumeer confidence and the FED's manufacturing survey, expected to come out in line with last months release. Consumer confidence is anticipated to show an improvement which could lend some support to the dollar.  GBPUSD is currently sitting at an 18 month...

Sterling weekly round up and the week ahead (Dayle Littlejohn)

The pound reached its highest level against the US dollar at the close of play on Friday when cable (GBPUSD) exchange rates broke through 1.37. The pound also made considerable gains against the Australian and New Zealand dollar when rumours filtered through to the markets that the Spanish and Dutch finance ministers had agreed that they seek the softest Brexit deal as possible, however both parties have denied the rumour, but this hasn't stopped the positive run for the pound. The relationship at present between...

Major volatility expected for sterling exchange rates (Dayle Littlejohn)

In the upcoming weeks, clients that are converting pounds into a foreign currency or a foreign currency into pounds should expect major volatility and substantial currency fluctuations. Friday evening head EU negotiator Michel Barnier set a two week deadline for the UK. He stated the UK need to clarify key issues or make concessions if progression is to be made before the EU council next month. The issues that need resolving are EU citizens' rights, the Irish border, and the UK's "divorce bill". Both parties are hoping...
Pound to US Dollar forecast Sterling continues to slide against the USD will GBP continue to fall?

Pound to Dollar forecast: Spain could veto Brexit Deal

Pound to Dollar forecast: Brexit developments key for GBP/USD rate Sterling gained ground yesterday against the majority of major currencies. Theresa May remains stubborn in her stance and intends to stay in her position as Prime Minister and see through the Brexit process. She is still adamant that a Brexit deal can be agreed. President of the European Council, Donald Tusk has announced that the EU Commission has informed him that a draft deal had been agreed at a negotiator's level and agreed in principle at...