Pound to Dollar Rate Choppy Ahead of BoE Meeting

GBP to USD Forecast: Pound Responds to Labour Election Manifesto Launch

Labour launches “radical” election manifesto The launch of the Labour Party’s election manifesto left the pound treading water yesterday. Jeremy Corbyn set out plans to transform Britain with public sector pay rises, higher taxes on companies and a sweeping nationalisation of infrastructure, in what he described as a "radical" manifesto. The GBP/USD interbank exchange rate subsequently edged 0.1% lower. However, the pound would have taken some comfort from his claim that he would not grant permission for another Scottish referendum "in the early years" of a...

Brexit debate weighs on the Pound’s value

The pound has had a torrid time in recent weeks, with GBPUSD exchange rates falling 7 1/2 cents. To put this into monetary terms a £200,000 transfer into US dollars achieves clients $15,000 (5.15%) less. Many of my clients took advantage of the fantastic rates we were achieving in early March as I thought it was only a matter of time until the Brexit negotiations would put pressure on the pound. At the moment the Conservative party are split down the middle in regards to...
GBP USD Exchange Rate Buoyed by Better-Than-Expected PMI data 

GBP USD Falls After Fed Leaves Door Open to Rate Hikes

A lack of economic drivers in the UK on Wednesday left the pound rangebound against the dollar for much of the day, causing it to meander between 1.34 and 1.35 after recovering from a sharp fall on Monday. Investors in the dollar had a much busier day in-store, with the minutes from the Federal Reserve’s January meeting of policymakers’ top of the agenda. Risk sentiment stabilised amid expectations that the central bank was limbering up to indicate it’s primed to begin raising interest rates starting in...
Pound to Dollar Rate Pushed Higher by Falling Covid Cases and Weak Dollar

GBP to USD rates: Sterling relatively flat despite Brexit breakthrough

The Pound has started the week relatively flat across the board of major currencies this morning, despite some positive news for UK Prime Minister May last night. At the EU Summit which involved all 27 member states it took less than 40 minutes for the EU leaders to accept the Brexit bill that was recently drawn up by UK and EU leaders. The agreements included the political declaration, the Brexit bill and the back-stop agreement which is likely to continue to be an issue...
GBP USD Exchange Rate Pulls Back as UK Inflation Hits Fresh 40-Year High 

What to expect this week for GBPUSD exchange rates

Cable (GBPUSD) has been on a steady decline in recent weeks and I expect a similer pattern could continue in the weeks to come. A robust US economy has helped the Federal Reserve to keep hiking interest rates and this trend looks like it will continue in the upcoming months and Brexit developments continue to weigh down the Pound's value. The key data releases to look out for this week are the Non Farm payroll number coupled with the unemployment rate and the Chequers meeting...
GBP EUR Higher as Inflation Jumps Again

Pound to Euro: When Will Sterling Fall?

The pound found some support last week following losses of 2.5 percent against most major currencies in the week before. The pound to euro and pound to dollar rate remained largely rangebound throughout with both currency pairs closing the week at similar rates to where they began. Following the Bank Holiday weekend, this week will be a short one, and sterling has started the day slightly higher with pound to euro trading at 1.1211 and pound to dollar trading at 1.2262. However, despite some respite for...
GBP USD Exchange Rate Slumps to Lowest Level in a Month

GBP USD Exchange Rate Set for Second Weekly Gain

The pound was on course for a second weekly rise and closed in on a one-month high around the 1.266 mark against the dollar on Friday, having received a shot in the arm from Rishi Sunak the previous day. The finance minister announced a substantial government spending package to support households, which is hoped will support the economy this year. This included a 25% windfall tax on oil and gas producers' profits to help fund a £15 billion support package for British households that are...
GBP USD Exchange Rate Rebounds Above 1.31

GBP USD Exchange Rate Breaks Above Key 1.37 Resistance Level

The pound hit a new two-month high against the dollar on Wednesday, as the US currency dropped back despite a jump in inflation. The UK currency touched 1.3690 for the first time since 4 November when it slid lower after the Bank of England surprised markets by holding interest rates at a historic low 0.1% - although the central bank did act in December. GBP USD has gained more than 3.5% since the December trough, breaking above the 1.36 resistance level and testing 1.37. By this morning,...
GBPEUR Looks for Support Ahead of ECB Minutes

Pound Sterling Forecast – Has the Market Overestimated GBP?

Where some had been arguing that economic data was taking less importance, I think one could argue this week has seen a bit of a turning point with the economic data once again driving the pound sterling forecast to a greater extent. This morning, we saw the latest Unemployment data with a headline figure of 650,000 people more out of work in June compared to March. Despite the government furlough program earlier this year there remains a huge challenge for the UK to retain employment...
GBP USD Exchange Rate Continues to Pull Away from March 2020 Low 

GBP USD Exchange Rate Hits Three-Week High

The pound touched its highest level (1.2617) in three weeks against the dollar on Thursday, as investors awaited further details on the government's response to the cost-of-living squeeze – and its potential to support the economy in the short term. Mounting fears that the domestic economy is tumbling towards recession have dented the pound’s appeal recently. According to market analysts, any signs of government support could improve sentiment toward the UK currency, which has been on the up over the last two weeks following a...