GBP exchange rate forecast
The pound saw considerable gains against a host of currencies yesterday but this morning sterling exchange rates are trading over 0.5% down against most majors.
It seems the reason for the pounds losses is down to a member of the MPC Martin Weale stating that the central bank's growth forecast for this year and next may be too optimistic and the UK economy could dip back into recession.
Whenever there are comments from within the Bank of England or think tanks that give their opinion on...
Sterling exchange rate overview
Sterling exchange rates are trading up this morning against a host of major currencies.
Sterling slips slightly ahead of key inflationary data
The Pound has lost a minor bit of ground against a basket of major currencies in early morning trading as investors anticipate Mervyn King to have to send a letter to the government for the 8th month running - He has to do this to explain himself when inflation is above 3%.
Although higher inflation generally leads to a higher chance of interest rate hikes in this case it may not always be seen as postiive as the higher inflation gets effectively the general public...
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The Pound has had a mixed day against most major currencies, losing even further ground against the Dollar yet still holding up in the high 1.21s against the Euro.
No major data has been released today and it appears that the markets are moving very much off the back of risk appetite.
Do you fancy yourself to be able to predict what the GBP/EUR rate will be on 31st August at close of play?? Our friends at Foreign Currency Direct are running a competition which is completely...
Inflation report & unemployment data could damage the pound
Today could be an extremely important day for anyone with sterling requirements. Should you be selling or buying the pound, today we have the quarterly inflation report by the bank of England
Markets await interest rate decisions!!!
Today we see both the Bank of England & the European Central Bank make announcements setting the interest rates for the month of August.
New Zealand raises interest rates.
Last night the central bank of New Zealand raised their interest rates by 0.25% to 3%
GBP exchange rate rises against the USD
The pound has seen some excellent gains against the US Dollar reaching a high of 1.5626. This is the highest level for 3 months.
The pound strengthens against most major currencies!!!
Now that the dust has settled after the excellent UK GDP figures, the pound has seen significant gains of over 1% against host of major currencies. Below shows the positive movements for the pound as of 13:50 BST.
Pound Sterling Forecast and update for the week so far – interesting news on...
Sterling has had a reasonably positive start to the week as predicted in my previous post gaining ground against a variety of major currencies, however losing against the Canadian Dollar.
The losses against the CAD were surprising, as during the week they did raise interest rates over there by 0.25% (however this was widely expected therefore didn't lead to much strength) but at the same time they also revised their expected GDP (economic growth forecast) down for the rest of the year.
In Australia, the wheels...
