Pound to Dollar Rate Shrugs Off UK’s Economic Woes

Pound Sterling Struggles to Find Support as GBP/USD Declines Further

Pound sterling struggled to find support on Monday as it was labelled amongst the worst performers of the day. Today marked the release of the UK construction PMI which came in above predictions, though the lesser of two PMI releases this week, the positive figures suggest growth in the UK economy and provides optimism for tomorrows UK services PMI. Weak GBP Loses Footing Against Strong USD Last week saw the rally of the pound following Thursday’s Bank of England (BoE) interest rate decision which saw the...
Pound to US Dollar Rate: High US Jobless Claims Causes USD Value to Fall

GBP/USD Forecast: Will GBP/USD exchange rates remain over 1.30?

GBP/USD exchange rates have risen above 1.30 this week following renewed optimism that there will be some kind of deal agreed on Brexit soon. The expectation for the pound ahead is of course volatility but the growing expectation for more positive, or less negative news, has helped the currency to strengthen. Continued turmoil in the main political parties has also triggered volatility as investors await further news on what lies ahead. With the recent Labour and Conservative party deserters, investors are having to deal with...
Pound to Dollar Rate Pushed Higher by Falling Covid Cases and Weak Dollar

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...
Pound to Dollar Forecast: GBPUSD Continues Upward Trend but for How Long?

Pound to Dollar forecast: Spain could veto Brexit Deal

Pound to Dollar forecast: Brexit developments key for GBP/USD rate Sterling gained ground yesterday against the majority of major currencies. Theresa May remains stubborn in her stance and intends to stay in her position as Prime Minister and see through the Brexit process. She is still adamant that a Brexit deal can be agreed. President of the European Council, Donald Tusk has announced that the EU Commission has informed him that a draft deal had been agreed at a negotiator's level and agreed in principle at...
Pound to Dollar Rate Remains at Seven-Week Lows

Pound to US Dollar Forecast: GBP to USD Rate Hits 17-Day High

Pound Profits from Election Optimism The pound gained momentum over the weekend, following the release of yet more polls that showed the Conservative Party maintained a solid lead over the opposition. For example, polls in the Sunday Times and the Mail on Sunday placed the Conservatives on 45% of the vote, with Labour lagging on 28-30% of the vote. Prime Minister Boris Johnson accelerated the pound’s upward trajectory, by claiming that all his party’s parliamentary candidates have committed to vote for his Brexit deal if he...
Pound to Dollar Rate Tripped Up by Slowing UK Growth

Pound to Dollar Forecast: GBP to USD Rate Bounces Above 1.30

Sajid Javid Resigns as Chancellor The pound to US dollar rate shot well over the 1.30 level yesterday after briefly retreating. The trigger that sent it higher was pulled by Sajid Javid, who shocked Westminster – and currency markets – by quitting as Chancellor of the Exchequer amid Prime Minister Boris Johnson's cabinet reshuffle. Mr Javid rejected the prime minister’s order to fire his team of aides, forcing him to hand in his notice just four weeks before his first Budget. He will be replaced...
Pound to Euro Starts the Week off Steady

GBP Rates Set For Volatile Period ahead over Political Uncertainty

The pound could be set for an extremely volatile month ahead with British politics and Brexit about to act as a major driver for the price of sterling once again. With local elections taking place in England today, any big swings from one party to another could create additional volatility for the pound. There are 4,400 council seats up for grabs making up the total of 150 local government authorities. Tomorrow morning could see a very interesting start to the day ahead of the...
Pound to Dollar Rate Tripped Up by Slowing UK Growth

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 Pushed Higher by Falling Covid Cases and Weak Dollar

Pound to Dollar Rate Hits Fresh Multi-Month High

The pound remained well supported on Monday as the ongoing vaccination programme continues to gather pace in the UK. With over 12 million people in receipt of at least one dose of a Covid vaccine already, the UK is on course to inoculate 16 million people in the top four priority groups by 15 February – comfortably outstripping the government’s aim of 15 million people. Vaccine optimism combined with falling expectations of negative rates – after the Bank of England put the historic move...
Pound to Dollar Rates: No-Deal Nerves Intensify for Pound

GBPUSD Rate: Sterling Exchange Rates ahead of UK Unemployment Data

The pound to US dollar exchange rate has moved lower with rates having fallen to below 1.24 for the GBP vs USD pair. UK unemployment data for February is released this morning and should be keenly watched as it will also contain the claimant count change for the month of March when the UK’s lockdown commenced. UK unemployment is widely expected to double in the coming months to a figure of around 8%. UK Purchasing Managers Index Data for the manufacturing and services sectors...