Pound Sterling Forecast – Has the Market Overestimated GBP?

Pound Sterling Forecast – Has the Market Overestimated GBP?

Where some had been arguing that economic data was taking less importance, I think one could argue this week has seen a bit of a turning point with the economic data once again driving the pound sterling forecast to a greater extent. This morning, we saw the latest Unemployment data with a headline figure of 650,000 people more out of work in June compared to March. Despite the government furlough program earlier this year there remains a huge challenge for the UK to retain employment...
Will the Pound Continue to Fall?

Pound to Euro, USD and AUD all at Pivotal Points

Sterling has had a tough start to the trading week so far, with pound to euro, pound to US dollar and pound to Australian dollar exchange rates currently sat at key pivotal points. GBP EUR interbank exchange rate is currently sat at 1.10 precisely at the time of writing this blog, and that is a level that has been a key level of resistance for some time now, and should we see sterling break through and remain below that level tomorrow then the pound...
Pound to Euro Exchange Rate Fights Back

Pound to Euro Forecast Under Pressure Again as GBP Tumbles

The pound to euro forecast rates has once again come under pressure after some positive gains during the last fortnight. The boost following Chancellor Rishi Sunak’s comments seem to have now disappeared and Sterling exchange rates are once again on the back foot. After two months of the UK economy falling whilst in lockdown the economy has started to pick up again as confirmed by the recent figures for May. The estimate for growth was 5.5% but the rise of only 1.8% month on month...
Pound Sterling Forecast – How will GBP perform in August?

Pound to Euro Forecast – Crucial Week for Brexit Negotiations

The pound to euro exchange rate faces added pressure this week as Brexit discussions continue in the third week of 'intensive' negotiations between the UK and EU, now being carried out face to face. Boris Johnson last week showed some optimism that he hoped a deal could be reached in July. At the same time however German Chancellor Angela Merkel has started preparing for a no deal Brexit after the British Prime Minister said he was ready to walk away from the negotiations. Michael...
Pound to Euro Surges to 3-Week High

Pound to Euro Surges to 3-Week High

The pound to euro exchange rate rose to a 3-week high on Friday after its second week of successive gains. Pound to euro exchange rate hit 1.1185 before falling back slightly, almost 3 cents higher the 3-month low of 1.0901 just two weeks ago. The pound had been sold aggressively on the back of Brexit uncertainty two weeks ago but a combination of Brexit optimism, Chancellor Rishi Sunak’s treasury stimulus and a more positive economic outlook have all boosted the value of the pound. The initial...
Pound to Euro Rate Remains Vulnerable

Pound Sterling Forecast – Will the Pound Continue to Rise?

The end of last week saw the pound sterling forecast rising with fresh three-week highs seen for the pound to euro exchange rate, plus for the pound to US dollar exchange rate. GBPEUR interbank rates rose to a fresh high of 1.1185, whilst GBPUSD interbank rates reached 1.2658. The reasons for this spike were mixed with a continuation of the recent optimism for the pound helping to fuel pound strength. Two of the key reasons that can be considered would be the positivity from the...
Pound to Euro Exchange Rate Inches Higher

Pound to Euro Exchange Rate Inches Higher

The pound has recovered further this week with positive movement against both the euro and the US dollar, and taking rates to a twenty-day high against these currencies. GBP to EUR currently sits at 1.1170 and GBPUSD is at 1.2580. The UK Chancellor Rishi Sunak announced substantial measures on Wednesday to promote economic activity including a major change to the stamp duty threshold at which tax is paid on property sales as well as initiatives to try and get customers back into restaurants and on...
Pound Sterling Forecast – Could the Pound Fall Lower Still?

Pound Sterling Forecast – Will the Recent GBP Recovery Last?

The pound sterling forecast has performed better this week rising against most currencies on some renewed optimism over the trade talks with EU negotiators, plus some strong moves by the UK Chancellor Rishi Sunak to combat the economic effects of the Coronavirus. Ultimately, the rise has proved a little short lived against the Euro with GBPEUR interbank rates reaching a high of 1.1151 this week, before falling to 1.1112 at yesterday’s close. The opening today has seen a reversal however with the levels now at...
Pound to Euro Exchange Rate Gains Almost 1% Yesterday

Pound to Euro Exchange Rate Gains Almost 1% Yesterday

Yesterday’s trading saw the pound to euro rate make gains of 0.88%, and GBP EUR interbank exchange rates swept above 1.11 as the pound had a positive day of trading against all major currencies, a rare occurrence over the past few weeks. GBP was the strongest major currency of the day making gains of over 0.5% against USD, CAD, AUD, NZD, ZAR and many other currencies. In terms of economic data there really was very little for the market to feed off of, and that is...
Brexit Uncertainty Keeps Pound Low

Brexit Uncertainty Keeps Pound Low

There was little change in the pound to euro and pound to US dollar exchange rates yesterday as both currency pairs closed the day broadly in line with where they opened. Pound to euro has stabilised around 1.1050 struggling to break 1.11 or drop below 1.10, and pound to US dollar has consolidated just below the psychological 1.25 level. Markets were largely driven by an increase in investor’s risk appetite with some currency pairs seeing change but largely the atmosphere was muted. The pound...