Will the pound rise or fall on the Bank of England decision?
Tomorrow is arguably one of the most important days for the pound this month with the latest Bank of England interest rate decision. Investors will pay close attention to this event to determine the latest twist and turns in economic policy, and it can shape behaviour of the relevant currency.
Typically, the raising and lowering of interest rates by a central bank will lead to changes in sentiment towards that currency, by making it more or less attractive to hold. This is in a similar...
Could this week’s busy schedule push GBP exchange rates out of their comfort zone?
Sterling exchange rates have been gradually climbing against the majority of major currency pairs in recent weeks. The change in government leadership, and financial planning in September has helped this cause and resulted in a steadier Pound.
To put this into perspective, the rate for cable (GBP to USD) is currently trading close to it’s 6-month high after recovering from the lowest levels on record in late August and early September.
Additionally, the GBP to EUR exchange rate is trading towards the highest levels in 3-months...
Red hot week for economic data, as temperatures across the UK plummet
Things have been looking brighter for the pound in recent weeks and the pound finished last week strong, after suffering a near two and a half cent (1.2345 to 1.2106) slide against the greenback (GBP/USD) from Monday to Wednesday. The pound has benefited from an improved ‘risk on’ appetite in recent weeks and responds well to positive news. Cable finished the trading week on the 1.23 handle.
The positive news in question relates to recent comments from US Federal reserve chair Jerome Powell’s comments around...
Is the pound set to weaken?
Sterling exchange rates hang in the balance
Sterling exchange rates once again hang in the balance following a subdued start to the week. Yesterday, the pound recovered most of the gains lost during Tuesdays session, however, struggled to break much higher.
Data released on Monday triggered the sterling sell-off after the pound had risen to monthly highs against the dollar and the euro towards the end of last week. PMI data confirmed the UK services industry contracted last month, which is negative for the country’s economic...
Will the pound continue to rise in December?
The pound has recently touched fresh highs against both the Euro and US dollar, begging the question will the pound continue to rise in December? Financial markets had become slightly more buoyant in recent weeks leading to sterling bouncing back from the October lows.
If we cast our minds back to October and the Liz Truss and Kwasi Kwarteng 'mini-budget' fiasco, sterling has made a incredible recovery. We have moved near 20 cents higher on GBPUSD, from 1.03 to 1.22, and on GBPEUR near 10...
Will Sterling continue to rally after hitting annual lows just a few months ago?
Sterling exchange rates have rallied in a dramatic fashion after hitting both annual, and record lows in some cases, as recently as just 3-months ago.
During late August and early September, the Pound was in the headlines for all the wrong reasons when the disastrous and poorly planned mini-budget was announced. In the wake of the Chancellor at the times updates, the Pound fell to its lowest levels against the US Dollar on record and also stuck annual lows against the majority of major currency...
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....
