Pound to US Dollar Exchange Rate Jumps Back Above 1.24

Pound to US Dollar Exchange Rate Jumps Back Above 1.24

The pound against the US dollar has seen a rebound back above 1.24 on the interbank exchange rate from the lowest level we saw in the market at 1.1409 on the 19th March 2020. This represents nearly a 10 cent movement from the low seen just over a week ago and the biggest movement in many years. US Sees Largest Number of COVID-19 Cases, Is the Pound to Dollar Forecast to Go Higher? The latest coronavirus statistics is that the US has the highest number...
GBP to USD Rate Mounts Impressive Recovery

Pound to Dollar Week Review: GBP to USD Rate Mounts Impressive Recovery

Dollar Demand Dented by Economic Stimulus Measures The pound to US dollar rate began its march higher on Monday afternoon when the US Federal Reserve announced its surprise decision to buy a potentially unlimited amount of government debt. The historic pledge aims to stimulate companies and local governments in the economic fight against the coronavirus. The news helped to calm market anxieties, dampening the risk-off mood that safe-haven dollar demand had been built on so far this month. The dollar was dealt a further blow on...
US Dollar Weakens Against the Pound After Further US Jobless Claims

US Dollar Weakens Against the Pound After Further US Jobless Claims

The Pound has started to fight back vs the US Dollar over the last few days and had a huge recovery vs the Greenback yesterday. The US confirmed that 3.28million workers filed for unemployment insurance following the recent virus outbreak. GBPUSD exchange rates managed to break just above 1.22 which is approximately 8 cents higher than the recent lows seen earlier this month. Indeed, the US Dollar hit its best level vs the Pound in 35 years creating some excellent opportunities to sell US Dollars...
GBP to USD Rate Continues March Higher

Pound to Dollar Forecast: GBP to USD Rate Continues March Higher

Record number of Americans file for unemployment The dollar tanked against the pound yesterday in the wake of a disastrous employment report, propelling the GBP to USD rate above the 1.20 benchmark. A record number of people filed claims for unemployment in the US last week, as the coronavirus pandemic brought huge swaths of America’s economy to a grinding halt. Official Labor Department figures revealed that the number of claims rose to 3.3 million, smashing the previous record of 695,000 in October 1982 – fresh...
Pound to Dollar Forecast: Uplift in Global Market Sentiment Pushes GBP to USD Rate Higher

Pound to Dollar Forecast: Uplift in Global Market Sentiment Pushes GBP to USD Rate...

US Senate Approves Historic Coronavirus Stimulus Package The pound to US dollar rate soared above the 1.18 benchmark for the first time in a week yesterday. This welcome injection of strength was initially provided by Congress and the White House who struck a deal for the biggest fiscal stimulus package in modern American history. Next up was the US Senate, which was unanimously passed the bill by a vote of 96 to 0. It’s now sent to the House of Representatives for the next stage...
Pound to US Dollar Exchange Rate Jumps Back Above 1.24

Pound to US dollar outlook – Will Coronavirus cause GBPUSD levels rise to fall...

The pound to US dollar has seen excessive volatility at the hands of the Coronavirus, as financial markets grapple with the sudden shifts in the outlook for the global economy and a series of groundbreaking policy decisions by central bank. The US Federal Reserve breathed more life into the US economy by announcing ‘unlimited QE’ yesterday, triggering some strong selling and then buying moves. It is as if on one hand the FX markets greatly back the ‘whatever it takes’ approach by central bankers, but...
Pound to US Dollar Exchange Rate Jumps Back Above 1.24

GBP to USD Forecast: Pound Rebounds After PM Announces Lockdown

Fed takes emergency action After an erratic start to the week, the pound to US dollar rate was given a nudge higher by the US Federal Reserve’s surprise decision to implement an unlimited expansion of bond purchasing programmes – known as “quantitative easing”. The unprecedented move, which is designed to help the economy weather the coronavirus meltdown, comes as plans for a $1.8 trillion bailout of business and consumers stalled in Congress. Fed leaders said: “Aggressive efforts must be taken across the public and private...
GBP to USD Rate Continues March Higher

GBPUSD forecast: Where next for the sterling v dollar pairing?

With GBP/USD exchange rates hitting the lowest levels seen since 1985 in trading last week many investors and speculators are wondering just where this currency pairing may head next. It seems like a large part of the move was down to investors rushing to move funds out of the U.K stock market and into cash or safer haven currencies as the Coronavirus takes hold of the world and many countries head into lockdown for what may be a sustained period of time. There are few...
Pound to Dollar Forecast: GBP Supported by Bank of England Emergency Measures

Pound to Dollar Forecast: GBP Supported by Bank of England Emergency Measures

UK Government Announces Coronavirus Rescue Package The GBP to USD rate rebounded from Thursday’s 35-year-low, amid concerns surrounding the economic damage caused by the coronavirus, to end last week above the 1.16 benchmark. Following a sustained run of significant losses, the tide turned for the pound after the Bank of England (BoE) announced its second emergency interest rate cut in as many weeks and boosted its quantitative easing programme by £200bn. The central bank slashed the cost of borrowing to a record low of 0.1%...
Pound to Dollar Week Review: Gbp to USD Rate Recovers From 35-Year Low

Pound to Dollar Rate Recovers From 35-Year Lows

Bank of England Slash Interest Rates to Record-Low After seven years serving as the Governor of the Bank of England (BoE), Mark Carney was replaced in the hot seat by Andrew Bailey on Monday. He walked into an economic crisis and was greeted by mounting speculation that he would slash the interest rates to a record low to ease pressure on the economy created by the coronavirus pandemic. The pound to US dollar rate soon sunk to a six-month low, after Boris Johnson used his...