GBP USD Exchange Rate Retreats Toward Two-Year Lows  

Pound to US Dollar exchange rate: Sterling reaches 11 week high against the US...

Brexit optimism British sterling has touched 1.2697 versus the US dollar today, its highest in 11 weeks, or since Sunday 30th June. In part, this is because markets are optimistic that there will be a Brexit deal. However, looking ahead, sterling’s value versus the mighty buck could be influenced, because UK unemployment rose in August, while wage growth eased. GBP to USD gains, as Barnier calls a deal “difficult but possible” One reason why the sterling vs US dollar interbank exchange rate has reached this 11-week high is...
GBP USD Exchange Rate Bounces Off Yet Another Two-Year Low

Pound to Dollar Rates Fall Below 1.30 as US Economy Performs

The pound to dollar exchange rate has seen a bumpy ride this week but has made considerable gains based on the performance of the US economy. Rates for GBP vs USD have slipped lower below 1.30 for the pair, and the dollar could strengthen further on the back of any further positive economic data releases. US services data produced by the Purchasing Managers Index arrived at a healthy 54.2 in January which has been received as welcome by the markets considering the recent long...
GBP USD Exchange Rate Falls Amid Murky Economic Backdrop

GBP USD Exchange Rate Falls Amid Murky Economic Backdrop 

The pound edged higher against the dollar on Tuesday morning before the gloomy economic state of play dragged it to the depths of the 1.22 range.  On Monday, British Prime Minister Boris Johnson announced plans to pass legislation this year that would ditch some of the rules on post-Brexit trade with Northern Ireland – but until the bill passes through the House of Lords, its potential to weigh on the UK currency will be limited.  Therefore, investor attention remains focused on the UK’s economic landscape, with...
GBP USD Exchange Rate Pulls Back as UK Inflation Hits Fresh 40-Year High 

Pound to US dollar forecast: Will a Brexit extension push GBP/USD higher?

We are now just 3-days from the deadline date for the current Brexit extension, which as it stands lasts up until this Friday. The pound remains range bound as the markets appear to be tired of the Brexit related headlines and rumours, with only official news now likely to impact GBP exchange rates now that we're this close to either a no-deal Brexit or another extension. MP's within the UK have voted against a motion regarding the UK departing without a deal in place. Today...
GBP USD Exchange Rate Slides after GDP Data Shows British Economy Shrank in June 

New Trade Tariffs $200 Billion Announced – Dollar Supported

The US dollar is likely to be in for a volatile period after US president Donald Trump announced tariffs on Chinese imports yesterday. This latest wave of tariffs which come into force on the 24th September are considerably higher than what we have seen to date and have been set at $200 billion. The President has also made clear that if China retaliates with its own tariffs then the US will impose tariffs on all Chinese imports. What is interesting is that to date there...
GBP USD Exchange Rate Rebounds Above 1.31

GBP USD Exchange Rate: The Week Ahead November 29th

The pound briefly dipped below 1.33 on Friday for the first time since December 2020 as a new Covid-19 variant hit sentiment in global markets. The strain – which goes by the name Omicron – is believed to be more transmissible and have higher resistance to vaccines. The emergence of the new variant in southern Africa sparked alarm amongst investors who scaled back their expectations for a Bank of England (BoE) interest rate rise next month, intensifying downward pressure on the pound. Interest rate expectations in...
Pound to Dollar Forecast Weakens after Poor UK GDP

Pound to Dollar Forecast Weakens after Poor UK GDP

Today's pound sterling to dollar forecast looks at what is affecting the GBP/USD exchange rate. The pound to dollar exchange rate remains on a weaker footing after weaker UK Gross Domestic Product (GDP) numbers disappointed the markets yesterday. UK GDP contracted by -0.4% putting pressure on an already weak pound as concerns are raised over the UK economy. The decline in car production appears to be having a negative impact on the growth outlook, and whilst Brexit is no doubt causing some of the...
GBP USD Exchange Rate Weakens as Investors Seek Safe-Haven Currencies 

GBP USD Exchange Rate Set for First Monthly Gain of 2022

The pound fell against the dollar on Tuesday but remained on course for its first monthly gain this year. Even Britain's gloomy growth outlook, which continues to dampen sentiment, hasn’t derailed the UK currency’s progress in the second half of May. Despite dipping in value, the pound remains well above its mid-May low when it sunk to its lowest level since March 2020. At the beginning of the month, the Bank of England (BoE) hiked interest rates to a 13-year high amid four-decades high inflation and...
GBP USD Exchange Rate: The Week Ahead October 24th

GBP USD Exchange Rate: The Week Ahead October 25th

The GBP USD rate meandered between the 1.37 and 1.38 levels on Friday, amid data showing that business activity was robust on both sides of the Atlantic in October – before settling at the 1.37 mid-range over the weekend. The pair broke through the 1.38 barrier for the first time since mid-September earlier in the week, after the pound was propelled higher by Bank of England (BoE) interest rate expectations. Market analysts expect the central bank to increase the cost of borrowing to curb inflation, possibly...
GBPEUR: Sterling Loses Ground Ahead of Rates, Election

Will Brexit be delayed? Speaker John Bercow steals the headlines

All national newspapers this morning have criticized speaker John Bercow's ruling that Theresa May cannot bring back the same Brexit deal for a third vote unless there are substantial changes. The Times have even stated they believe Bercow is 'Sabotaging May's Brexit deal' and Downing street are once again questioning the speakers impartiality. Will Brexit be delayed? It appears that now there won't be a third vote before the EU summit on Thursday, therefore the Prime Minister will have to ask for a longer extension. The...