Sterling vs US Dollar Weakens as UK Economy Slows

Pound to Dollar Forecast: GBP to USD Rate Subdued by Growing Odds of Interest...

BoE Rate Cut Speculation Intensifies Speculation that a Bank of England (BoE) interest rate cut could be around the corner continued to cast a shadow over the pound yesterday morning. In the absence of fresh UK data, the GBP vs USD rate was left exposed to lingering concerns over the health of the economic outlook. Rate cut expectations gathered momentum on Monday in the wake of disappointing UK GDP figures and downbeat commentary from BoE policymakers. For example, BoE governor Mark Carney recently suggested that...
Pound to US dollar rate spikes at eight-month high

Pound to Dollar Forecast: GBP to USD Rate Drops Below 1.30 For First Time...

The pound to US dollar rate dipped below 1.30 on Monday morning. The move south was made on the back of mounting speculation that the Bank of England (BoE) could cut interest rates as soon as this month. Weaker-than-expected data showed that the UK economy contracted by 0.3% in November, as the general election campaign hotted-up. The GDP figure fell well below the stagnation economists had forecast, with manufacturing weakness extending to the dominant services sector. The pound, which was already feeling the weight...
Gbp to USD Rate Flat as UK Data Disappoints and Us-China Talks Stall

GBP to USD Forecast: Pound Regains Balance After Downbeat Carney Comments

Brexit Bill Passes Through House of Commons The pound to US dollar rate managed to hold relatively steady on Friday after a downbeat speech from Mark Carney had caused it to tumble back below the 1.31 level the previous day. The governor of the Bank of England hinted that an interest rate could be required to shore up the UK economy. His comments added to the pressure the pound was already feeling about the prospect of a no-deal Brexit. The pound received some welcome news on...
Disappointing UK Data Continues to Weigh on GBP to USD Rate

Pound to US Dollar Week Review: GBP to USD Rate Ends Week Below the...

A stronger than expected UK Services Purchasing Managers’ Index reading meant the pound to US dollar rate hit the ground running on Monday, causing it to stride back above the 1.31 level. Britain’s dominant service sector was awash with optimism following Boris Johnson’s landslide election victory, which kicked Brexit uncertainty into touch – temporarily. The government resumed its attempts to make Brexit happen on 31 January, when the Withdrawal Agreement Bill returned to the Commons on Tuesday. By Thursday it had been cleared to head...
Brexit news and Bank of England meeting to set the tone for the Pound to Euro rates

GBP to USD Forecast: Pound Slides on Back of Downbeat Mark Carney Comments

Carney Hints at Rate Cut The pound to US dollar rate felt the effects of downbeat comments from Mark Carney yesterday, causing it to fall back below the 1.31 level. The governor of the Bank of England (BoE) suggested that an interest rate cut could still be on the horizon because a rebound from Brexit uncertainty wasn’t guaranteed and UK economic growth left room for improvement. Mr Carney said: “This rebound is not, of course, assured. The economy has been sluggish, slack has been growing, and...
Pound Continues to Benefit from Election Optimism

Pound to Dollar Forecast: Disappointing British Retail Sales Figures Send GBP to USD Rate...

British Retail Sales Fall for First Time Since 1995 The pound to US dollar rate failed to cling onto early gains yesterday, as investors refocused their attention on the government’s efforts to pass its Brexit bill through Parliament. It wasn’t helped by European Central Bank policymaker Klaas Knot, who said that a hard Brexit remains a possibility at the end of the year and could severely impact foreign trade. Boris Johnson and new European Commission president Ursula von der Leyen had a positive first meeting yesterday,...
Pound to Dollar Forecast GBP to USD Rate Feels Weight of Disappointing Economic Data

GBP to USD Forecast: UK Parliament Resumes Push to Leave EU on 31 January

MPs Scrutinise Brexit Deal The pound, which has already found support from encouraging Services PMI data this week, could be given a further leg up by Brexit developments over the next few days. Boris Johnson's Withdrawal Agreement Bill returned to the Commons yesterday, as the government resumes its attempt to enact the country's departure from the EU by the end of the month. UK Parliament began three days of detailed debate on the legislation, with MPs finally set to pass the landmark bill. In the meantime,...
Gbp to USD Rate Flat as UK Data Disappoints and Us-China Talks Stall

Pound to Dollar Forecast: GBP to USD Rate Boosted by UK Service Sector Optimism

UK Services Sector Stagnates but Confidence Surges Encouraging economic data meant the pound began the first full business week of 2020 with a spring in its step. The UK Services Purchasing Managers’ Index (PMI) indicated that the sector picked up in December and narrowly avoided contraction. The PMI came in at 50, up from 49.3 in November and stronger than the forecast reading of 49.2 – a score of 50 means business activity was unchanged. This stagnation in the sector last month marked an improvement...
Pound to Dollar Forecast: GBP to USD Rate Feels Weight of Disappointing Economic Data

Pound to Dollar Forecast: Brexit Uncertainty Continues to Shackle GBP to USD Rate

Disappointing data weighs on pound Brexit uncertainty and soft economic data combined to send the pound to US dollar rate into a downward spiral at the end of last week; dropping from 1.32 on Tuesday to 1.30 on Friday. Fresh fears of a no-deal scenario plagued the pound throughout the Christmas period, so when UK Manufacturing Purchasing Managers’ Index fell to its lowest since July 2012, the GBP vs USD pair’s value fell with it. Fed officials confident in 2020 interest rate path Escalating tensions in the...
Pound to Dollar Forecast: GBP to USD Rate Feels Weight of Disappointing Economic Data

Pound to Dollar Week Review: Mixed Fortunes for GBP to USD Pair as New...

US-China Trade War Optimism Supports Pound to Dollar Rate US dollar weakness helped the GBP vs USD rate to regain its footing at the start of the week, after the pound was tripped up by fresh fears of a no-deal Brexit over the Christmas period. Boris Johnson’s decision to make it illegal for the government to extend the Brexit transition period beyond 11 months, has cast a shadow over the UK’s future relationship with the EU. The pair received some welcome support just in time for...