Sterling back on the front foot – will the rise continue?
Sterling back on the front foot – will the rise continue?
Pound sterling has started the days trading on a positive foot gaining ground against a basket of major currencies. GBPEUR is trading within half a cent of the three-month high. Cable (GBPUSD) is trading close to four-month highs.
A transfer of £100,000 is buying $17,000 and €8000 more vs the low of the last three months. Now could present a window of opportunity for those looking to buy foreign currency with sterling.
Figures released yesterday showed...
What the pound weaken or rise in December?
Sterling has been a mixed performer, of recent weeks rising and falling in the last few weeks as a range of factors dictate direction. Whilst overall, the pound has been performing more strongly since the lows of September and October, we are still well below some of the higher points of 2022.
Sterling of course suffered at the hands of the Liz Truss and Kwasi Kwarteng administration and the infamous 'mini-budget' that saw multi-year lows for sterling against the US dollar of 1.03 and GBPEUR...
GBP exchange rates climb despite warnings regarding the UK economy
The Pound begun the week in a volatile fashion yesterday, and traded in over a 1-cent range against the Euro after testing the 1.1650 handle once again.
We have now seen the GBP/EUR exchange rate test trading levels around 1.1650 at least 4-times in the last 3 months with yesterday being the latest example of this pattern. Yesterday morning during the earlier hours of trading GBP rebounded from the 1.1650 once again demonstrating that there is resistance at this level, so if you’re planning on...
Sterling hits two-month highs against the dollar
Pound Sterling Forecast – Sterling hits two-month highs against the dollar
The pound continued it’s positive start to the week during Wednesday’s session rising to a 2-month high against the US dollar and a 3-week high against the euro.
£100,000 is buying €3000 and $9000 more vs the low of the last month. If purchasing an overseas property or running a business with currency exposure. The pounds gains have significantly reduced the cost.
The last few weeks has been full of negative economic data for the UK....
Sterling Hits Fresh Highs! Will the pound continue to rise this week?
The pound has reached fresh highs against both the Euro and the US dollar in the last week, as weeks of general malaise and negativity for the pound seem to evaporate. The key question for many will be, is this going to continue?
GBPEUR levels have risen to three-week highs of 1.1582 in the last 24 hours, where we had seen a low of 1.1326 two weeks ago. The move on GBPUSD is more impressive, with the near 1.20 hit recently, the highest since August,...
Sterling remains rangebound, but could tomorrow’s economic data releases cause a spike?
Sterling exchange rates traded within a think range during yesterday’s trading session, with the GBP/EUR exchange rate trading within a range of just half a cent.
Since breaking above the 1.15 threshold the GBP to EUR exchange rate has mostly hovered between 1.1500 and 1.1550 and that’s where the pair are trading at the time of writing.
After quite a volatile month or two, especially in the wake of the Mini-Budget almost two-months ago, the markets seem pretty calm. This may continue throughout the week as...
Will The Pound Keep Rising This Week?
The Pound has had a fairly good week or two against most major currencies, so I thought I would look at the probability that Sterling exchange rates would continue to gain ground against them over the course of this week.
Now that the Autumn statement has passed without any huge drama, unlike Kwasi Kwarteng's attempt, there is a feeling that there is a little more confidence in the U.K and investors are starting to head back into UK stocks and shares, thus heightening demand for...
Will the Pound rise after the Autumn Statement?
Autumn Statement and impact on Sterling exchange rates
The eagerly anticipated Autumn Statement was released yesterday which had the effect of calming the currency markets, much to the relief of anyone looking to buy Euros or buy US Dollars at the moment.
The statement included increased tax rates as well as a curb in public spending in an attempt to fill the void in public finances that the UK faces.
A stark warning was also given by the Office for Budget Responsibility as it warned that households...
How will the budget effect the pound?
Inflation figures released yesterday confirmed that prices in the UK have risen to a new 40-year high. The key CPI reading was higher than expected at 11.1% vs 10.7%. The pound remained relativity quiet following the announcement and closed the day slightly higher against most major currencies.
The Bank of England has been consistently raising interest rates since December last year to try and bring inflation under control. However, bank predictions suggest inflation will peak at 13% before levelling off and eventually falling in 2024.
Interest...
UK Inflation Rises Once Again ! Will the Pound Rise or Fall on the...
UK Inflation has risen to 11.1%, which is a 41 - year high. The pound is weaker against many currencies on this news, as the damage of rising prices to the economy is considered.
Inflation has been a real problem for not just the UK, but also the global economy as central banks are forced to raise and adjust interest rates to combat the rise in prices of goods and services in the respective economies.
Sterling might typically be stronger on the back of expectations that...
