Pound to Dollar Rate Clings onto 1.40

Will Sterling go back above 1.30 against the Dollar?

Sterling has made good gains against the dollar over the course of the trading week, and in fact breached the key 1.30 level last night if only for a few hours. Brexit appears to be the main market driver for the pound and any economic data that has been released lately has had very little impact on trading levels. The latest news from the past week is that Theresa May has managed to overcome their latest obstacle where she survived a vote of no-confidence vote by...
Pound to Dollar Rate Slips Back to 1.39

Pound to Dollar Week Review: Mixed Fortunes for GBP to USD Pair as New...

US-China Trade War Optimism Supports Pound to Dollar Rate US dollar weakness helped the GBP vs USD rate to regain its footing at the start of the week, after the pound was tripped up by fresh fears of a no-deal Brexit over the Christmas period. Boris Johnson’s decision to make it illegal for the government to extend the Brexit transition period beyond 11 months, has cast a shadow over the UK’s future relationship with the EU. The pair received some welcome support just in time for...

GBP Forecast – Will the Pound Continue to Gain in Value This Week?

Much of today’s focus centered around UK Chancellor Philip Hammond’s Spring Statement, which was predictably upbeat and bullish in its delivery. The Chancellor signaled stronger growth, despite the on-going market concerns around Brexit, with UK Gross Domestic Product (GDP) forecasts upgraded from 1.4% to 1.5%. Whilst this was only a modest improvement, the government also expect borrowing to decrease throughout the year and inflation to fall back to their 2% target by 2019. The Pound reacted positively throughout the day, making gains against most of the...
Pound to Dollar Rate Recovers Losses

Pound to Dollar Rate Recovers Losses

On Friday morning, the pound to dollar rate fell from the cusp of the 1.42 level to 1.40 against the dollar.

Theresa May to influence sterling exchange rates

Tomorrow UK Prime Minster Theresa May will be making her case that the UK are leaving the customs union, even though the House of Lords last week voted in favour of remaining. The PM is stuck between a rock and a hard place as she continues with her stance that she the UK public have spoken and therefore the UK will leave the EU and therefore the customs union, but at the same time she wants the Irish border to remain as a soft...
GBPEUR Exchange Rate: Week in Review April 17th

Pound to Euro – High Volatility Expected in Weeks Ahead

The pound to euro and pound to US dollar remains on a weaker footing with Brexit and COVID-19 continuing to act as the principle drivers. The pound to Euro rate nonetheless rallied higher to a high point of 1.1259 yesterday and 1.2363 for the pound to dollar. The movements follow intense media interest over the Bank holiday weekend surrounding the Prime Minister’s chief adviser Dominic Cummings and whether in the eyes of the law he broke lockdown rules when travelling from London to Durham....
GBP/USD rates: Has President Trump offered an olive branch in the trade standoff with China

Trump attempts to influence Fed Rate Decision

Federal Reserve Interest Rate Decision It had been almost certain US interest rates would rise at tonight's Federal Reserve Interest Rate decision. It has been justified by the requirement to tackle inflation and normalise monetary policy. Donald Trump however has been openly critical of the proposed hike. Trump has posted the following on Twitter this week: I hope the people over at the Fed will read today’s Wall Street Journal Editorial before they make yet another mistake. Also, don’t let the market become any more illiquid than...
Pound to Dollar Rate Gains Short-lived

US Dollar Outlook: How Did Yesterday’s US Data Releases Affect the Dollar?

USD Builds Gains on Coronavirus Fears, Investors Remain but Could Slowly Diffuse as Fears Drop US Data Sees USD Rally Continue but Today’s Jobs Data Will Be the Real Test Today marked the release of the US nonfarm payrolls and average hourly earnings. The results which were released at 13:30 GMT, displayed an uptick in values which sent the USD even higher. The nonfarm payrolls for January showed an increase to 225k from 147k from the previous month. Whilst the average hourly earnings grew...
Trade wars and Brexit to dictate pound to US dollar exchange rates

GBP Forecast – Another Tough Day for the Pound

It’s been another testing day for the Pound, which has seen its value decrease against the majority of major currencies. GBP/EUR rates have remained fairly flat throughout the day, with the pair range bound between 1.13750 – 1.1423. This is likely due to the recent pressure, which has been building on the Euro. The Eurozone economy has flattened of late, with political instability and concerns over trade wars cooling investor confidence in the single currency. This in turn has helped support Sterling around the current levels...
Pound to Dollar Rate Gains Short-lived

Pound to US Dollar forecast: Fed hints at Monetary Policy Change

Are we set for further rate cuts and potentially QE? Tonight, we will witness the latest FOMC (Federal Open Market Committee) Minutes, from the Federal Reserve. The Fed been in the spotlight for their future monetary policy plans, following an interest rate cut in September. This is quite a change from last year which saw several hikes from the FED a potential further hikes during this year. The change in monetary policy momentum can be attributed to global economic uncertainty, the key catalyst being the ongoing US/China trade...