Pound to US Dollar Extends Recovery Beyond 1.24 as UK Coronavirus Lockdown Eases

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 Sterling Forecast – Will GBP continue to bounce back?

Pound Sterling Forecast – Will the Pound Rise Further?

The pound has truly had a mixed week rising and falling throughout the week against various currencies, as optimism rises and falls on the many different factors influencing exchange rates. Friday afternoon has seen fresh highs against the US dollar reached with the interbank rate reaching 1.2731, whilst GBPEUR levels reached 1.1252, not quite the 1.1272 highs reached Tuesday, but still much higher than the lows of 1.1085 reached on the 29th March and which were tested as last week began. Why has the pound...
Will Pound to Euro Fall to 1.02 in Coming Weeks?

Will Pound to Euro Fall to 1.02 in Coming Weeks?

With so many now betting against the pound, the question seems to be how much will the pound fall by, rather than if the pound will fall. Whilst the pound received some welcomed support last week, many still expect pound to euro and pound to dollar to target much lower levels over the coming weeks. Karen Jones, Head of Technical Analysis for currencies, commodities and bonds and Commerzbank thinks pound to euro will target 1.1037 shortly, and technical analyst colleague Axel Rudolph is looking for...
Pound to Euro: When Will Sterling Fall?

Pound to Euro: When Will Sterling Fall?

The pound found some support last week following losses of 2.5 percent against most major currencies in the week before. The pound to euro and pound to dollar rate remained largely rangebound throughout with both currency pairs closing the week at similar rates to where they began. Following the Bank Holiday weekend, this week will be a short one, and sterling has started the day slightly higher with pound to euro trading at 1.1211 and pound to dollar trading at 1.2262. However, despite some respite for...
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 US Dollar Extends Recovery Beyond 1.24 as UK Coronavirus Lockdown Eases

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...
Pound Sterling Rates Rally on Month End Flows

Pound to Euro Forecast: Does Sterling Have Further to Fall Ahead?

The pound endured a bit of a mixed week rising higher and lower against the euro, US dollar and other currencies as sentiment towards the UK continued to be mixed. On the one hand there is the overall uncertainty of the Coronavirus, with the UK clearly one of the worst affected countries with over 200,000 cases and 30,00 deaths, truly awful numbers. However, given this backdrop, there are big steps being taken with the number of tests rapidly increasing and the UK government and central...
Pound to Euro: Rocky Week for EUR as Eurozone GDP Crash Expected

Pound to Euro: Will the BoE Cut Interest Rates This Week?

The Bank of England are due to meet this week and all eyes will be on the decision whether to see if they will cut interest rates or not. The current interest rate in place is at just 0.15% which is the lowest in history. Rumours have been increasing in recent weeks that the central bank may be preparing to cut interest rates in an attempt to stimulate the British economy. UK Gross Domestic Product (GDP) fell by over 20% during the pandemic and the...
Pound to US Dollar Forecast: Mixed Messages on GBPUSD Exchange Rates

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...
Bank of England Policy Troubling Pound Sterling

Pound Sterling Down Against the Euro and US Dollar as BoE Interest Rate Decision...

Since the 23rd March the UK has been in lockdown which has seen big falls for the stock market owing to the uncertainty of when the UK will be ‘getting back to work'. Pound sterling has however, during this time managed to improve against a number of different currencies including vs the euro and the US dollar. Sterling exchange rates prior to the lockdown suffered particularly vs the US dollar as the pound fell to its lowest level to buy US dollars since 1985. Indeed,...