Pound to US Dollar Rate Outlook: GBPUSD Drives Lower on Global Uncertainty

Pound to Dollar Forecast: GBP to USD Rate Subdued by Growing Odds of Interest...

BoE Rate Cut Speculation Intensifies Speculation that a Bank of England (BoE) interest rate cut could be around the corner continued to cast a shadow over the pound yesterday morning. In the absence of fresh UK data, the GBP vs USD rate was left exposed to lingering concerns over the health of the economic outlook. Rate cut expectations gathered momentum on Monday in the wake of disappointing UK GDP figures and downbeat commentary from BoE policymakers. For example, BoE governor Mark Carney recently suggested that...
Pound to US Dollar Exchange Rate: Demand for USD Soars as UK Provides Support Package

Pound to US Dollar Exchange Rate: Demand for USD Soars as UK Provides Support...

In the trading world, the outlook for the global growth sentiment is impossible to predict under current conditions. Currencies are rising and falling at the hands of the coronavirus outbreak and the widespread fear it has caused. The demand for US dollars has rose over the week as investors flock to the safe-haven currency amid the coronavirus crisis. Meanwhile, the UK has stepped up its support package offering for the UK economy, offering to spend more if needed. The UK Chancellor noted that the...
GBPUSD Surges as Dollar Weakens Across the Board

Pound vs Dollar: Non-Farm Payroll to take centre stage today – potential volatility for...

The US Dollar has gone from strength to strength as the economy has continued to perform well, and this has left the Pound to US Dollar trading within a cent from the best levels of the year for much of this week. How could Non-Farm Payroll figures affect the US Dollar Today's economic data releases could impact the Dollar's value moving forward though, as this afternoon the US jobs market will be evaluated as both Unemployment data and Non-Farm Payrolls will be released and these releases...
Pound to US Dollar Exchange Rate Outlook: Why Has GBPUSD Risen?

Pound to US Dollar exchange rate: USD slides against other ‘safe haven’ currencies as...

US China trade war: Currency manipulation and tariffs It looks as though there is no end in sight to the US China trade war. Like Brexit the trade war is coming at a cost, hurting global business sentiment. US President, Donald Trump last week confirmed he would impose further tariffs on Chinese goods. On Monday, China then were accused of allowing its currency to weaken to its lowest level since 2008, with Washington accusing Beijing of manipulating the currency. After continuing to weaken, the Yuan held around the 11 year...
Pound to Euro Exchange Rate: GBP nears 5-week high against the EUR as UK-EU Trade Deal Hopes Rise

Prospective Brexit likely to help support sterling above 1.30 against the greenback

GBP/USD rates are currently trading just above 1.31, with the pound finding some support around this threshold following yesterday’s losses. Having seen its value increase against the greenback for much of last week, GBP came under pressure over the weekend. This drop in value came in line with news that a Brexit deal was yet to be agreed between the UK and EU, despite a number of reports to the contrary on Saturday. It is believed that the Irish border issue remains the final sticking point,...
GBP to CAD forecast Will the Bank of Canada keep interest rates on hold?

Sterling Supported on Prospect of August Rate Hike

The Pound received a boost yesterday following the Bank of England meeting which highlighted that some policy makers are leaning towards higher interest rates. Andy Haldane who sits on the Monetary Policy Committee voted for a hike resulting in a 6-3 vote to maintain rates at current levels of 0.5%. It is now looking like there could be a rate increase in August if another 2 members decide to raise interest rates at the next meeting and this is providing some support for sterling...
GBP to USD Forecast: Record Job Losses for the US as Coronavirus Takes Hold

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...
Pound to US Dollar Forecast: Mixed Messages on GBPUSD Exchange Rates

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’...
GBP to USD forecast UK awaits Brexit delay decision

GBP/USD spikes as PM May seeks further Brexit extension

Sterling spiked against all major currency pairs last night after UK Prime Minister Theresa May said she will look to extend Article 50 beyond the current deadline of April the 12th. So far this morning the pair have traded almost as high as 1.32 at the highest stage, with sterling up against the majority of major currency pairs as the markets appear to have received the news well as has been the case with talk of a softer Brexit for over 2-years now. May appears to...
Pound Sterling Forecast – USD Movements Could be Crucial

Sterling Supported on Transitional Deal

The pound has been given a major boost following the agreement on the transitional deal which was agreed yesterday by Brexit secretary David Davis and his EU counterpart Michel Barnier. GBP EUR rates broke through 1.14 before retreating slightly whilst GBP USD remains above 1.40 for the pair. Britain will effectively be able to access the single market but without being able to be involved in the rule making. The gains are already proving somewhat limited however and there has been a political backlash from...