Pound to Dollar Forecast: GBP to USD Rate Slips Below 1.30 on Back of...
UK Chancellor Vows to End Alignment With EU Rules After Brexit
The pound, which was already feeling the weight of Bank of England (BoE) interest rate speculation, came under further pressure from renewed Brexit uncertainty over the weekend. The source of this concern was Sajid Javid, whose comments raised fears of a hard departure from the EU. Speaking to the Financial Times, the UK Chancellor said: “There will not be alignment, we will not be a rule-taker, we will not be in the single market...
US Dollar improves against the Pound and the Euro
US Dollar vs Pound hits 3 week high
The US Dollar vs both the Euro and the Pound has started to increase once again ahead of the latest US employment data due out later today.
The US ADP jobs report published yesterday was stronger than expected and this has provided further levels of support for the US Dollar.
The most recent Federal Reserve minutes were also published this week which has signalled that we could see further interest rate hikes moving into this year.
As we look ahead...
Pound to Euro Exchange Rate – Further Losses Ahead?
Sterling exchange rates have lost a little ground against most major currencies over the course of the trading week, most notably hitting a 5 week low against the Dollar during yesterday’s afternoon trading session.
It seems that global sentiment is starting to slip again, and fears of a second wave of COVID-19 along with a major global recession are leading investors to batten down the hatches and take cover which is leading to some Sterling weakness.
For those that were following Sterling exchange rates...
Will the Pound manage to break 1.30 against the US Dollar this week?
The Pound has made some gains vs the US Dollar during yesterday's trading session sending the Interbank level back towards 1.29. We have already seen a rather volatile period for USD exchange rates during August with a movement of four cents from the high to the low during last month.
We have seen a steady decline for the Pound since Easter with exchange rates hitting their lowest level to buy US Dollars with Pounds in almost a year over the last few days.
However, we saw...
Will GBP/USD Rates Fall Back below 1.30?
GBP/USD rates continue to trade above 1.30, but how long will sterling continue to find protection above this key threshold?
The pound found some much-needed support over recent weeks, which was welcomed by those clients holding sterling currency positons after a sustained period of stagnation against the greenback.
Reports surfaced last week that a Brexit deal might be edging closer, which if confirmed would almost certainly bring with it an element of relief for the markets. These reports gathered pace over the weekend, with potential developments...
GBP USD Exchange Rate Edges Away From 21-Month Lows
The pound moved away from 21-month lows against the dollar on Tuesday after slipping back into the 1.24 range at the start of the week.
It had been fettered by dollar strength on Monday ahead of both Federal Reserve and Bank of England (BoE) monetary policy meetings this week – but rose above 1.25 the following day compared with a multi-month low of 1.2412 hit last week.
The BoE gathering of rate-setters is expected to produce a 25 basis points (bps) interest rate hike on Thursday.
In...
Pound to Dollar Rate Climbs to 10-day High
The pound started the week by moving sideways against the dollar, before gaining enough traction to send it to a 10-day high – rising to the 1.38 level for the first time since 16 July. The upward movement for the UK currency came despite it remaining on course for its first back-to-back monthly declines versus the dollar since March 2020 – when the coronavirus became a pandemic, triggering turbulence in markets worldwide.
The pound was buoyed by data that revealed new Covid cases in Britain...
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...
Pound to Dollar Rate Pares Losses
The pound – which reached its lowest levels of the year last week – trimmed deep losses on Friday following a rebound in sentiment across global financial markets. This lifted risk currencies like the pound and prompted investors to retreat from the safe-haven dollar. The subsequent move to the 1.35 mid-range against the dollar was made against the backdrop of mounting pressures for the UK currency: the fuel crisis, the end of the furlough scheme, and soft economic data.
September was a month to forget...
Pound to US dollar forecast: Sterling weakens as Brexit enters crucial week, will GBP/USD...
The pound to US dollar exchange rate began the day on the backfoot once again. GBP/USD rates saw a move below 1.23 on the interbank for the first time since 3rd October and lower than its recent highs (1.2413) at 1.2219 at the time of writing.
PM Boris Johnson defeated in latest court battle as No deal Brexit threat weighs heavily on Sterling
Boris Johnson’s latest court battle has failed to offer any certainty on a conclusion to Brexit this month, as a Scottish judge has...
