Pound to Dollar Rate Recovers Losses

GBP/USD exchange rate breaches 1.30

No Deal Brexit now less likely The GBP/USD exchange rate has today breached 1.30, a key resistance point for the pair. The two month high has been caused by investor confidence slipping in the US Dollar due to the government shutdown and also a drop in the probability of a no deal Brexit scenario. Donald Trump has now had the partial government shutdown in place for a considerable time, in fact it is the longest partial government shutdown in history. He is playing hard ball in...
GBP USD Jumps to Fresh March High

Can Sterling reverse it’s recent losses against the US Dollar, and how will Brexit...

Last week the pound to US dollar exchange rates were the strongest for sterling in roughly two-months, as the continued sell off for the pound came to a halt as hopes for a Brexit breakthrough increased. Boris to meet EU leaders: What could happen to GBP/USD exchange rates? UK Prime Minister, Boris Johnson will be meeting French President Emmanuel Macron and German Chancellor Angela Merkel this week in advance of the G7 summit that will take place over the weekend. The Irish backstop is once again...
Pound to Dollar Rate Recovers Losses

Sterling Gains Over the US Dollar as Poor US Economic Data Shows a Worrying...

Earlier in the year sterling sat in the high 1.34s against the US dollar only to fall to 1.15 as the coronavirus became a threat to the global economy. We have seen some restoration of faith in the pound with GBP/USD currently sat in the 1.24s and at its highest pound to dollar rates reached 1.2528 today on the interbank exchange. During times of global economic uncertainty the pound is often not the destination of choice. The imbalance between imports and exports does not fill...

What can we expect next for the pound? Important news for the pound this...

The pound has been on a gentle path higher since August 2017 when we reached some of the lower points since Brexit. This was most clear against the Euro where GBPEUR dropped to 1.075 testing 8-year lows but GBPAUD retested very close to the 5-year lows of 1.60-1.61. GBPUSD was fairly close to current levels but that is explained more by US dollar movements than the pound. At this time it was the prospect of a no deal on Brexit which drove the rates lower...
Pound to Dollar Rate Pushed Higher by Falling Covid Cases and Weak Dollar

GBP to USD Forecast: Sterling Weighed Down by Weak Manufacturing Data

UK Manufacturing Sector Contracting at Fastest Rate in Eight Years The pound to US dollar rate hit the ground running in 2020, before being tripped up by soft UK data yesterday. The pair slid back below the 1.32 level after it was revealed that the manufacturing sector contracted at its fastest rate since 2012. The slowing global economy restricted domestic demand, causing factory output in the UK to fall at its fastest rate in eight years in December. The IHS Markit UK Manufacturing Purchasing Managers’...
Pound to Euro Starts the Week off Steady

Pound to US Dollar Forecast: Supreme Court to Decide Whether Proroguing of Parliament is...

US producer price data helps boost US dollar The pound to US dollar exchange rate moved marginally lower yesterday after better than expected US producer price data unexpectedly rose higher helping boost the US dollar. Rates for GBP to USD have slipped marginally lower to 1.2330 but remain at the elevated levels following recent Brexit developments in the UK. Will the US Reserve cut interest rates next week? The US Federal Reserve next meet 17th-18th September where it is widely expected that the Fed will cut interest...
GBP USD Exchange Rate Slumps to Lowest Level in a Month

GBP USD Exchange Rate Struck by Worsening Risk Sentiment

The risk-sensitive pound was tripped up by weak Chinese data on Monday having recovered from a fresh two-year low at the end of last week. Waning investor confidence was compounded by reduced bets on the pace of Bank of England (BoE) rate hikes this year. In April, money markets were pricing in around 144 basis points (bps) of BoE rate hikes by year-end, which has recently been scaled back to 133 bps. An inflated interest rate outlook typically boosts the value of a currency but with UK...
GBP USD Exchange Rate Drops to Fresh Low as Truss Becomes New PM

GBP to USD Forecast: Pound Boosted as UK Economy Climbs to 16-Month High

Uncertainty Eases for UK Firms The UK Composite Purchasing Managers' Index (PMI) – which includes both manufacturing and services – rose to a 16-month high in December. Demand appears to be swelling in the wake of last year’s general election, with the services PMI revealing the sector returned to growth for the first time since August 2019. Manufacturing continued to contract, but at a slower pace to the previous month. Friday’s figures – the latest data to be released ahead of the Bank of England’s...
A Rollarcoaster Week for GBP EUR - Weekly Review June 18th 

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 Exchange Rate: Demand for USD Soars as UK Provides Support Package

GBP/USD -Key 1.30 Resistance Point is Breached

Sterling's woes continue. Following the Bank of England's (BOE) rate hike last week the Pound has suffered against the majority of major currencies. The rate hike was already factored into exchange rates which is why when the rate hike was confirmed there was little in the way of Sterling strength. The press conference from BOE Governor, Mark Carney was the market mover. He had a dovish tone and warned of the potential for a Brexit "no deal." Sterling fell as a result. Trade secretary, Liam Fox stated...