Election Checks GBP to USD Gains

Pound to US Dollar Forecast: GBP to USD Rate Hits 17-Day High

Pound Profits from Election Optimism The pound gained momentum over the weekend, following the release of yet more polls that showed the Conservative Party maintained a solid lead over the opposition. For example, polls in the Sunday Times and the Mail on Sunday placed the Conservatives on 45% of the vote, with Labour lagging on 28-30% of the vote. Prime Minister Boris Johnson accelerated the pound’s upward trajectory, by claiming that all his party’s parliamentary candidates have committed to vote for his Brexit deal if he...
Pound Responds to Labour Election Manifesto Launch

Pound to dollar forecast: GBP to USD pair looks to build on last week’s...

Election Developments Influence Sentiment Towards the Pound Stagnant would be the best way to describe the GBP vs USD rate at the end of last week, as disappointing UK data and US-China trade jitters cancelled each other out. Before this, however, the pair had performed relatively well, after general election hopes boosted the pound – and not just because the Tories continued to top opinion polls. Not only were their chances of regaining power aided by Nigel Farage’s decision to pull all Brexit Party candidates...
Gbp to USD Rate Flat as UK Data Disappoints and Us-China Talks Stall

Pound to Dollar Forecast: Gbp to USD Rate Flat as UK Data Disappoints and...

UK Retail Sales Suffer Surprise Downturn Yesterday rounded off a week of disappointing UK economic data, from slowing average earnings to falling inflation. Even heavy discounting by retailers couldn’t buck the trend, as UK retail sales experienced a downturn in the run-up to Christmas. The surprise figures– sales dropped 0.1% in October – were put down to Brexit uncertainty and declines in employment and wage growth. The pound to US dollar interbank exchange rate was left muted as a result. Instead, it took comfort in...
GBP to USD Forecast: Disappointing CPI Data Gives the Pound a Headache

GBP to USD Forecast: Disappointing CPI Data Gives the Pound a Headache

UK Inflation Dips to Three-Year Low Yesterday’s Consumer Price Index (CPI) showed that British inflation dropped to its lowest level in nearly three years last month. The CPI rose by 1.5% year-on-year in October, down from 1.7% in September – a bigger fall than forecast and the lowest headline inflation since November 2016. Not only did this add to expectations that the Bank of England’s next move might be an interest rate cut; it added to the GBP vs USD rates woes, which edged slightly...
Pound Remains Flat Following Election Debate

GBP to USD forecast: ONS figures check pound’s gains from Monday

Pound held back by disappointing wage growth and employment data With one hand the Office for National Statistics (ONS) gives; with the other it takes away; on Monday the ONS gave the pound to US dollar pair a much-needed boost when it revealed the UK avoided falling into recession during the third quarter; yesterday, the ONS snatched those gains away with the release of its latest wage growth data. A surprise easing in UK wage growth in the three months to September caused the pound to...
GBP to USD Rate Maintains Its Upward Trajectory

Pound to US Dollar Forecast: GBP Takes Comfort in GDP Data

Pound Rises in Value as UK Avoids Recession You’d think the GBP vs USD exchange rate would have had the Monday blues after Gross Domestic Product (GDP) figures revealed that Britain’s economy grew at its slowest annual pace in almost a decade. Importantly for the pair, however, the data also showed that the economy dodged recession in the third quarter of 2019, despite the best efforts of the global slowdown and Brexit uncertainty to trip it up. The pound subsequently firmed against a weaker dollar,...
Pound Powers to Seven Month High Against US Dollar

GBP to USD forecast: GDP figures to provide short-term focus for the Pound

The GBP vs USD rate ended last week below 1.28 – the first time it had dipped under that level since mid-October – as it suffered at the hands of announcements on both sides of the Atlantic. Surprise MPC votes impact the Pound A month is a long time in the world of economics; long enough for two Bank of England (BoE) policymakers to make a U-turn on Thursday and unexpectedly vote to cut interest rates at November’s Monetary Policy Committee meeting. In doing so they...
pound feels the weight of political uncertainty as the election campaign commences

GBP to USD forecast: pound feels the weight of political uncertainty as the election...

Election uncertainty, weak Purchasing Manager’s Index (PMI) readings and today’s Bank of England (BoE) monetary policy meeting combined to leave the pound in the doldrums yesterday afternoon. The GBP vs USD rate dipped to its lowest level in almost a week, settling just below 1.29. Better-than-forecast UK services PMI only gave the pound a brief leg up on Tuesday, before the reality of the situation set in yesterday – that it still represents a seventh consecutive month of declines. US Nonfarm productivity data sees biggest...
Pound to US Dollar forecast Brexit continues to subdue business confidence in the UK

Pound to US Dollar forecast: Brexit continues to subdue business confidence in the UK

Could history be about to repeat itself? The pound certainly seems to think so, after the prospect of another hung Parliament – to match the 2017 election result – caused the GBP/USD interbank rate to slip below 1.29 on Monday, for the first time since the end of October. However, the pair received some much-needed respite from the omnipresent threat of political uncertainty yesterday morning, courtesy of positive data readings: figures from the British Retail Consortium and KPMG showed that UK retail sales ticked...
Pound to US Dollar forecast GBP to USD rate left flat by disappointing data on both sides of the Atlantic

Pound to US Dollar forecast: GBP/USD rate left flat by disappointing data on both...

The pound to US dollar rate was muted yesterday, despite a stream of early opinion polls predicting the Conservatives can achieve a majority, raising hopes that a Brexit deal can be ratified. The pound was shackled by disappointing construction Purchasing Manager’s Index (PMI) data, which showed that while output fell at a slower rate last month, both new orders and employment continued to slump. Business optimism within the sector is close to a seven-year low and civil engineering has dropped at its fastest pace...