Could the Pound fall further following the latest Bank of England update?
Last Thursday the Bank of England caught the markets off-guard and voted to keep interest rates on hold.
This broke the recent trend of continuously hiking interest rates at every opportunity, and it was the first time since December 2021 that the BoE opted not to hike rates, breaking a streak of 14-consecutive interest rate hikes.
At the beginning of last week, the markets had predicted an 80% chance of another rate increase so understandably the Pound weakened when the rate was paused.
A slowing down of...
Will the Bank of England’s decision strengthen or weaken the pound?
Will the Bank of England’s decision strengthen or weaken the pound?
The outcome of today’s Bank of England interest rate decision will strengthen or weaken the pound moving forward. Sterling exchange rates took a big hit yesterday following an unexpected drop in inflation from 6.8% to 6.7%.
In the lead up to yesterday, many commentators and economists were expecting inflation to rise with predictions set at 7.1%. Even chancellor Jeremy Hunt warned of another uptick in price rises.
The Bank of England have raised interest rates at...
Will the Pound Fall Further on Bank of England Decision and Falling Inflation?
Sterling lower after UK Inflation drops more than expected to 6.7%
The pound has dropped across the board today after UK Inflation data came in lower than expected. This is good news in one sense as the Bank of England has been trying to bring this down for many months.
Sterling has been supported by expectations of a higher interest rate in the future, with a key meeting tomorrow.
UK interest rates are much higher in the last year than in recent years, this will typically see...
Will the ECB help or hinder Sterling exchange rates?
Will the ECB help or hinder Sterling?
Euro exchange rates hang in the balance ahead of today’s European Central Bank monetary policy meeting. The key decision could help or hinder sterling’s position against several of its counterparts.
Sterling exchange rates will react depending on the outcome of their decision. Most affected, would be GBPEUR due to the pairing including the euro, however, cable (GBPUSD) rates could also be affected.
EURUSD is the most traded currency pair globally which means significant movements on the rate can impact other...
Pound Sterling Forecast: How to get the Best Pound to Euro Exchange Rate
Pound Sterling Forecast, what we can expect for the pound?
Getting the best pound to euro rate is about being prepared and tracking key economic data and information.
"Hope", is not usually a good strategy. Relying purely on "luck" and hoping that the market will magically go your way can often lead to disappointment.
Just because you cannot totally predict the direction on rates, doesn't mean you should just give up and accept your fate.
To help my clients get the best rates, I take the time to...
Will the Bank of England stop hiking interest rates after next week’s expected hike,...
The Bank of England is expected to hike interest rates once again on the 21st of September, bringing the base rate of interest up to 5.5%. This would be a 15th consecutive interest rate hike from the central bank, with the rate currently sitting at a 15-year high.
Throughout the year the increasing rate hikes have helped push the Pound higher against most currency pairs, and the Pound was the strongest performing currency of the G10 in the first half of the year.
Expectations of further...
Pound loses value as US services data boosts the Dollar
Pound loses value as US services data boosts the Dollar
Pound sterling opens softer this morning after losing value against the dollar. The sell-off begun during yesterday afternoons session. Cable (GBPUSD) rates have dropped below the key 1.25 handle which could be a signal of things to come. The pairing is currently tracking close to the 3-month low which represents a real opportunity for dollar sellers.
ISM PMI data confirmed an expansion in the US services sector last month. A reading above 50 signals an expansion...
Will GBP exchange rates drop throughout the remainder of the year?
Sterling exchange rates have been in the headlines often throughout 2023 so far, as the currency was the strongest performing currency of the G10 in the first half of the year.
As the result of the gains made by the Pound, GBP/EUR is currently trading within 1-cent of its 52-week high making the conversion of Pounds into Euros an attractive proposition.
Although GBP/USD had a very strong first half of the year, the Pound has begun to gradually drift from its highs over the past few...
Sterling softer against the euro ahead of key inflation data
Sterling softer against the euro ahead of key inflation data
Pound sterling softened against the euro during yesterday’s session, reaching a low of 1.1610 on the interbank which was a two-week low for the pairing. Marginal gains for the euro represented a window of opportunity for euro sellers.
GBPEUR reached a new yearly-high last week but has since dropped back by more than a 1%.
Exchange rates continue to be driven by current and future interest rate policy. Market expectations are for the Bank of England to...
GBP exchange rates remain resilient despite lower expectations for further rate hikes
Much of the Pounds price fluctuations this year have been driven by increases in interest rate hikes along with expectations of additional interest rate hikes in future.
The Bank of England (BoE) has hiked interest rates 14-consecutive times since December 2021, and this has taken the base rate to its highest level in 15-years. The base rate of interest currently sits at 5.25%.
Those of our readers planning on making an exchange of Pounds into another currency have benefited from the bullish approach from the BoE,...
