Pound rebounds following lighter than expected inflation figures
Wednesday’s trading session saw the pound on the front foot, gaining back some of the losses from the past week against a basket of currencies. Inflation data released in the morning showed price growth slowed in July for the first time since September 2021. Could this be a signal that the cost-of-living crisis has begun to ease in the UK?
The Bank of England stated last month that they expect inflation to peak at 13%. The drop in price growth does pose an interesting question...
Will the Pound Remain Steady after Surprise Dip in Inflation ?
The pound has been relatively steady today following a surprise dip in the headline Inflation numbers. In welcome news across the country, the number came in at 9.9% higher year on year for August, versus the 10.2% numbers from last month for July. The important point is the number has been trending higher since the beginning of the year so this marks a turning point and could potentially signal a change in policy ahead. Inflation is very influential on interest rates, and interest rate...
US Inflation figures give Dollar a huge boost in Tuesday’s trading
The Dollar has had a really positive day of trading against both Sterling and the Euro, with a gain over 1% against both during the Tuesday trading session.
This is mainly down to higher than expected inflation numbers, overall CPI (Consumer Price Index) figures were released at 8.3% as opposed to expectations of 8.1% and given the Federal Reserve’s robust stance on interest rates this has heightened the chance of further aggressive rate hikes in the months to come.
For those that are not regular readers...
GBP USD Exchange Rate Drops to Fresh Low as Truss Becomes New PM
The pound slid as low as 1.144 against the dollar on Monday – its lowest level since March 2020 – ahead of the announcement of the new Prime Minister.
When, as widely expected, it was confirmed that Liz Truss had beaten Rishi Sunak in the race to 10 Downing Street, the UK currency managed to claw its way back into the 1.15 range.
Truss has promised tax cuts and a new energy plan within the week, which could present the Bank of England with the conditions...
Sterling exchange rates continue to slide – How low can the pound go?
Sterling exchange rates have seen further losses against both Euro and Dollar over the course of the trading week, as investors and speculators alike have made it clear there is a lack of confidence in the Pound at present.
With the cost of living crisis bearing down on the UK economy and a prolonged recession on the cards we have started to witness a move away from the pound and it appears that it is being treated much more like a riskier currency rather than...
Pound to Dollar forecast: Are we closing in on the end of the US...
In today's Pound to Dollar forecast I discuss reports over the past few days of an increased potential of a trade agreement, or at least a truce to be agreed by leaders Donald Trump and Xi Jinping.
U.S Treasury secretary Steven Mnuchin spoke to CNBC earlier in the week and commented that he felt that a trade deal was 95% complete. However, we also need to be cautious that this final 5% may well be the large sticking points and enough to not see progress.
For...
Pound to US Dollar forecast: How will Non-Farm Payroll data affect GBP/USD exchange rates?
Will Non-Farm Payroll data affect the pound to US dollar forecast?
Today is a key date in the economic calendar with the latest US Non-Farm Payroll data released. Due on the first Friday of every month, the information relates to the changes in on-agricultural employment in the United States. It is highly regarded as a key barometer of the US labour market and will provide us with insight into the latest developments in the US economy. Expectations are for the data to show a drop...
Pound to US Dollar rate drops as cross-party talks fail to reach a Brexit...
The Pound is trading around 3 month lows at the moment against the US Dollar as well as other currencies such as the Euro.
Failure of Brexit talks hits the pound to us dollar rate
The positive sentiment surrounding the Pound earlier this month has waned and the gains have been reversed with the Pound falling by almost 3% since the highs. The gains were based on the hopes of cross-party talks being productive as UK Prime Minister May and Labour leader Jeremy Corbyn were in...
Pound vs Dollar: How will next week’s vote on May’s deal impact the GBP/USD...
Next week could be very busy for Sterling exchange rates as the next meaningful vote on UK Prime Minister May's deal will take place. It's expected to be held on the 12th, with speculation mounting as to what could happen to the Pound in the event her plan is voted in favour of, or against again.
The Pound is the best performing major currency of 2019 so far and some substantial gains have been made, with GBP/EUR trading around a 22-month high and GBP/AUD trading...
Potential for another US interest rate hike and the impact of the UK’s meaningful...
The US Dollar has continued to fight back against the Pound this week and has already moved by 2 cents during the last few days or the difference of £2,400 on a currency transfer of USD $200,000.
This movement demonstrates how volatile the currency markets are and highlights the importance of being kept up to date with a currency broker.
After seeing some indifferent economic figures Stateside the data published yesterday showed an improvement in the services sector of 59.7 from 56.7 compared to the previous...
