GBP/USD spikes as PM May seeks further Brexit extension

Pound gains on the US Dollar after positive Construction Data release

The health of the UK economy is better than expected according to data released earlier, at least in the Construction sector anyway. This week there will be a number of data releases covering the health of the economy. The data releases are Purchasing Managers Index (PMI) readings, which are forward looking and offer us an idea as to the health and optimism in the industry. With reading's over 50 being considered positive, June's figure of 53.1 has given the Pound a boost especially after the...
Pound to US dolar forecast - Will a Brexit extension push GBP/USD higher?

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 to USD rates: Sterling is boosted by hopes of a no-deal Brexit being avoided

Further Dollar strength against Sterling predicted for July

The Pound has made improvements against the US Dollar ending the week with GBPUSD rates hitting above the 1.32 level after getting close to dropping below 1.30 earlier in the week. The third and final revision of UK GDP for the first quarter came out on Friday mooring and was increased upwards from 0.1% to 0.2% which gave the Pound a lift against the US Dollar. US Personal Spending in May saw a fall from the expectation of 0.4% to 0.2% and this caused the Dollar...
Pound to US dollar exchange rates and the impact of the trade wars and Brexit

Best rates to sell US Dollar for Pounds in 2018. When will GBPUSD fall...

The US Dollar has appreciated massively against the Pound hitting the best rates to sell US Dollars for Pounds in 2018. A combination of factors has transpired to push the US Dollar higher as the divergence in both monetary policy and politics, between the US and UK becomes wholly apparent. The rate may well now push lower and break the key 1.30 level of resistance as investors favour the Greenback versus the Pound. The US Dollar has been rising on global uncertainty as concerns remain over...
Pound US Dollar Forecast: With Brexit less than 4 weeks away what will happen to GBP/USD rates?

GBP USD Falls – Trump Trade Policy Drives Dollar Higher

The Pound has fallen even lower against the US Dollar with levels fast approaching 1.30 for the GBP USD pair. This is really due to a combination of Sterling weakness stemming from uncertainty in the ongoing Brexit negotiations and Dollar strength as a result of US President Donald Trump’s trade policies. Today and tomorrow are going to be hugely important for Sterling exchange rates with the EU summit. Although EU immigration policy will be the main point of discussion, Friday has been earmarked for an...
GBP to US Dollar rate improves as Fed Reserve Bank adopts dovish stance

US Dollar remains strong despite drop in US Consumer Confidence, will GBP/USD fall below...

The US Dollar has remained strong despite weak data out of the US yesterday. The confidence index measures US consumer confidence and during June it fell from 128.8 down to 126.4. This did little to dent the greenback's strength and personally I expect to see the US Dollar become a bit stronger in the upcoming weeks for a number of reasons. Oil prices are remaining high at the moment as the owing to a number of reasons, and as oil prices are denominated in the greenback...
Pound to dollar Forecast - Brexit delay pushes sterling down

UK businesses issue a warning to Theresa May ahead of the EU summit

At present the UK Prime Minister Theresa May is planning her approach for the EU summit which is set to start on Thursday. It's been highlighted by many financial institutions that the summit has the potential to have a considerable impact on Sterling exchange rates, as the negotiations are being labelled as the most important in the process so far. In recent weeks there is an argument to suggest that cracks are now starting to appear in UK business, as many are either announcing that...
The reasons why I think GBPUSD exchange rates could fall below 1.30 this month

Economic data out this week that may impact GBP/USD

We have a fairly busy trading week ahead for GBP/USD exchange rates, on top of the political and economic developments from president Trump we also have a number of key economic data releases too. Trade war concerns still continue to be rife around the markets as Donald Trump is still happy to throw his weight around, most recently taking a swipe at the European motor market and pledging a 20% tax on European cars. His latest move is another attempt to bolster the U.S economy and...
GBP to CAD forecast - Bank of Canada interest rate decision

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...
Is Sterling's Recent Recovery Against the USD Another False Dawn?

GBP Forecast – Theresa May Wins Crucial Brexit Vote (Matthew Vassallo)

It’s been a positive day for Theresa May, following news that the government had won today’s crucial vote inside the House of Commons. Victory was achieved by a narrow margin of 319 to 303, meaning that the government did not need to add any clause into the Withdrawal Bill in the case of no Brexit deal being agreed. Despite this victory the market’s reaction was muted, with Sterling making only minimal gains against the US Dollar. MP’s were given assurances that they would have a meaningful say...