Will Sterling continue to recover following last week’s dramatic sell-off?
Yesterday the Pound begun the week in a strong fashion, following on from its recovery towards the end of last week.
During last week’s trading session the Pound traded within an 8% range against the US Dollar and the trading range for GBP/EUR wasn’t far from this kind of dramatic trading range either. I would say that it was the most volatile week of trading since the Brexit vote took place back in June of 2016.
The Pound begun to fall in value in the fall-out...
Sterling exchange rates continue to slide – How low can the pound go?
Sterling exchange rates have seen further losses against both Euro and Dollar over the course of the trading week, as investors and speculators alike have made it clear there is a lack of confidence in the Pound at present.
With the cost of living crisis bearing down on the UK economy and a prolonged recession on the cards we have started to witness a move away from the pound and it appears that it is being treated much more like a riskier currency rather than...
Why is the Pound to Euro Rate Falling? Will it Continue?
U.K jobless claims were released in early morning trading today, much like many economic data releases the figures were posted at an earlier than usual 07:00, we normally would see a release such as this out at 09:30.
The figures, as expected were not particularly great reading for the U.K economy however there was a slight surprise in the fact that the official unemployment rate came in at 3.9% as opposed to the 4.3% which had been expected.
This news shows that employment was at a...
GBP/USD rates: Best time to buy US dollars in 2 months
The pound to us dollar rate has risen during the course of this week. It is now the best time to buy US dollars in the last two months, as it appears as though US interest rates may not be going up as quickly as the markets had previously expected.
Brexit positivity provides a boost for sterling exchange rates
Talks between the Conservatives and the Labour party concerning Brexit appeared to be getting somewhere and this managed to provide the pound with a boost against a...
Why Are Sterling Exchange Rates So Low? Why Is The Pound Dropping?
Sterling exchange rates have taken another huge hit overnight as the trend of weakness for the pound continued straight at the start of the open on the Asian markets last night.
The Pound dipped all the way down to the 1.02s against the Dollar and the 1.07s against Euro as investors and speculators rushed to drop the currency and this caused a great deal of weakness.
So why are Sterling exchange rates dropping?
Since the announcement of the mini-budget and Kwasi Kwarteng's plans to cut taxes we...
Bank of England and mini budget – The impact on Sterling exchange rates
The Bank of England increased interest rates for the 7th time in a row by 0.5% to take the base rate up to 2.25%, which was the biggest single rate hike in years. This caused the Pound to fall briefly against both the Euro and US Dollar as there were some predictions that the Bank of England may have raised rates by as much as 0.75%. As this didn’t happen the Pound plunged almost immediately after the announcement but managed to reverse some of...
Pound to US Dollar forecast: Best time to sell US Dollars for Pounds in...
Best time to buy Sterling with US Dollars
Pound to US dollar exchange rates are at the best time to sell the US dollar all year. The pound has weakened against the greenback on Brexit uncertainties, as investors remain nervous about which direction Brexit taking. The US dollar is also stronger as it appears the euro will remain weak, which has pushed EUR/USD lower.
Investors abandoning Euro
A key factor often on GBP/USD exchange rates is the behaviour on the EUR/USD pairing, as investors seek to abandon...
What will 2023 Bring For Sterling Exchange Rates?
Sterling exchange rates have dropped on the whole throughout 2022 and it is fair to say there are a number of quite obvious reasons behind the poor performance of the pound over the course of the year.
Here is a summary of GBP paired against a selection of major currencies and the movement since 1st Jan 2022 as an example.
GBP/USD -10.79%
GBP/EUR -4.97%
GBP/CAD -5.44%
GBP/AUD -4.69%
GBP/CHF -9.97%
All in all, the above suggests the pound indeed had a torrid time of it, most notably shortly after Liz Truss...
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 Dollar Forecast: GBP to USD Rate Plunges to Lowest Level For 35...
Pound Falls for Seventh Consecutive Day
The financial impact of the coronavirus outbreak is sending shockwaves throughout the global economy. So much so that the pound to US dollar rate plunged to its lowest level since 1985 yesterday, after seven consecutive days of declines.
The pound, which dipped below the €1.15 benchmark this morning, began its descent last week when the Bank of England (BoE) cut interest rates to a record low in a bid to prop up the economy. Since then, investors have been favouring...
