Pound to Euro and Pound to US Dollar Touches Fresh Lows

Pound to Euro: Multiple Pressures Send the Value of Pound Lower

The pound fell sharply during yesterday’s trading as multiple pressures built on the UK currency. The pound to euro exchange rate is now trading at 1.1280, and 1.2189 against the US dollar, compared to 1.1460 against the euro and 1.2380 against the US dollar one week ago. Brexit trade negotiation uncertainty, Bank of England policy, and the UK’s slow exit from lockdown have all weighed on the UK currency. The pound had been holding firm but since the Deputy Governor of the Bank of England...
Pound to Euro Exchange Rates: UK GDP Released this Morning

Pound to Euro Exchange Rates: UK GDP Released this Morning

The pound to euro exchange rate has fallen lower with rates falling to a low of 1.1292 for GBPEUR this morning whilst the pound to US dollar exchange rate has also fallen to a low of 1.2250. The pound has found some support following the UK Gross Domestic Product (GDP) numbers released first thing this morning. The data showed the UK economy contracted 2% in the first quarter but there was a noticeable sharp fall in the march numbers as to be expected. The...
Pound to Euro – High Volatility Expected in Weeks Ahead

Pound Sterling Forecast – Where Next for Sterling?

The pound has begun this week in mixed fashion, trading neither particularly higher or lower on the speech delivered by Boris Johnson over the weekend speech which spelled out the path ahead in easing the lockdown restrictions. The currency market has proceeded rather cautiously as so far as we have very little change in the current circumstances and there is still the possibility of a second wave of infections. And it was possibility of a second wave of infections which saw sterling losing ground at...
Pound to US Dollar Extends Recovery Beyond 1.24 as UK Coronavirus Lockdown Eases

Pound to US Dollar Extends Recovery Beyond 1.24 as UK Coronavirus Lockdown Eases

Sterling’s recovery from its Thursday low of 1.2266 saw the GBP to USD exchange rate accelerate beyond 1.2400 during Friday’s trading and at one point reaching beyond 1.2450. The market’s risk-on mood saw investors move away from the safe-haven US dollar, allowing the pound to recover the near 2 percent loss it had made earlier in the week. The pound had incurred a difficult week as coronavirus, negative economic data, and Brexit uncertainty all weighed heavily on the UK currency. However, investors are encouraged by...
Key Week Ahead for Pound to Euro Exchange Rate as Boris Johnson Delivers Coronavirus Speech

Key Week Ahead for Pound to Euro Exchange Rate as Boris Johnson Delivers Coronavirus...

Last week, the pound has ended the trading week slightly down against most major currencies, with interbank levels currently sitting in the 1.14s for GBP/EUR, the 1.23s for GBP/USD, the 1.72s for GBP/CAD and having just slipped into the 1.89s for GBP/AUD to name a few examples. Boris Johnson's to Announce His Lockdown Strategy With the country and financial markets eagerly awaiting Boris Johnson’s lockdown strategy announcements due out this evening, this could pose quite a volatile start to the trading day on Monday. For those...
Pound Sterling Forecast – What Will Move GBP Rates in June?

Pound to Euro Forecast: Does Sterling Have Further to Fall Ahead?

The pound endured a bit of a mixed week rising higher and lower against the euro, US dollar and other currencies as sentiment towards the UK continued to be mixed. On the one hand there is the overall uncertainty of the Coronavirus, with the UK clearly one of the worst affected countries with over 200,000 cases and 30,00 deaths, truly awful numbers. However, given this backdrop, there are big steps being taken with the number of tests rapidly increasing and the UK government and central...
Pound Sterling Forecast – What Will Move GBP Rates in June?

BoE Decision Sends Pound to Euro Rate Higher

The Bank of England has left its interest rate unchanged at 0.1 per cent and maintained its quantitative easing programme at £645 billion at this morning’s scheduled monetary policy meeting. The pound is currently 0.25 per cent up on the day against the euro and US dollar, with the pound to euro rate trading at 1.1450 and GBPUSD at 1.2360. Two members of the bank’s Monetary Policy Committee, Jonathan Haskel and Michael Saunders, voted to expand the current £645 billion quantitative easing programme and Governor...
Pound to Euro and Pound to US Dollar Touches Fresh Lows

Pound to Euro Forecast: Expected Government Easing Measures

The pound continues to trade in a narrower trading range against most of the major currencies as the markets continue to digest the impact of COVID-19 and crucially when normality will return. Despite weaker data from yesterday the pound to euro rate still managed to make some gains. Interbank exchange rates for GBPEUR currently sit at 1.1480 and pound to US dollar at 1.2430. Whilst Boris Johnson had been expected to announce new easing for measures tomorrow at the daily conference, it is expected...

Pound Sterling Forecast: Will the Pound Be Lower During This Shorter Week for the...

The UK is enjoying a shorter working week because of VE Day on Friday, with the typical May Bank Holiday being changed to accommodate the 75-year anniversary of the end of the Second world war. Some of the key topics to consider this week are the Services data today, the Bank of England interest rate decision 7 am on Thursday and the update on the UK’s lockdown status by PM Boris Johnson on Thursday and again on Sunday. The pound has been finding itself more...
Pound Sterling Down Against the Euro and US Dollar as BoE Interest Rate Nerves Kick In

Pound Sterling Down Against the Euro and US Dollar as BoE Interest Rate Decision...

Since the 23rd March the UK has been in lockdown which has seen big falls for the stock market owing to the uncertainty of when the UK will be ‘getting back to work'. Pound sterling has however, during this time managed to improve against a number of different currencies including vs the euro and the US dollar. Sterling exchange rates prior to the lockdown suffered particularly vs the US dollar as the pound fell to its lowest level to buy US dollars since 1985. Indeed,...