Pound to Dollar Rate Starts Week on the Back Foot

Pound to Dollar Rates: Pound Hamstrung by “Thin” Post-Brexit Deal

The festive season is typically a quiet period for markets. This year had potential to be an exception to the rule after the UK and EU finally struck a post-Brexit free trade deal on Christmas Eve. Instead of rocketing to multi-month highs, however, the pound to dollar rate shrugged its shoulders at the news following an initial rally – and the reason for its unenthusiastic response and subsequent slide lower was simple: the contents of the deal is not considered a game-changer for the...
Pound to Dollar Rates: Pound Sheds Brexit Deal Gains

Pound to Dollar Rates: Pound Sheds Brexit Deal Gains

Christmas came early for the pound after London and Brussels finally struck a Brexit deal on Thursday, just a week before Britain’s official separation from the bloc at the end of the year. European Commission President, Ursula Von Der Leyen tweeted: "We now have a fair and balanced agreement with the UK. It will protect our EU interests, ensure fair competition and provide predictability for our fishing communities. Europe is now moving on." While Boris Johnson said: "We have taken back control of our laws...
Pound to us Dollar Exchange Rate Hits 4 Month High

Pound to Dollar Rates: Pound Gains on Trade Deal Hopes

We have been told the clock is ticking on a post-Brexit trade deal for a while, but if ever there was a time to use this well-worn phrase it’s now. With less than a week to go before the transition phase expires, the Christmas break couldn’t come at a worse point – snatching away valuable time that could be used to get a deal over the line. Acutely aware of this, Boris Johnson and European Commission President, Ursula von der Leyen are in "close contact"...
Pound to Dollar Rate Recovers Losses

Pound to Dollar Rates: Pound Rallies Against the Dollar

The pound took a beating on Monday morning amid Brexit and travel ban chaos. Another weekend passed and yet another deadline was missed in trade talks between the UK and EU. The deadlock in Brussels was compounded by the decision from a raft of European countries to close their borders to the UK, following the discovery of a new strain of the coronavirus. The pound to dollar rate subsequently fell off a cliff, plummeting by more than three cents to less than 1.32 –...
Pound to us Dollar Exchange Rate Hits 4 Month High

Pound to Dollar Rates: Pound Sinks Following Fresh Coronavirus Restrictions

The pound’s performance has been wedded to the progress of post-Brexit trade talks in recent weeks – and like any relationship, there have been ups and downs. Last week was a perfect example of this: on Tuesday, the pound to dollar rate sunk below the 1.33 benchmark, before skyrocketing to a 31-month high just two days later – breaking through the 1.36 barrier for the first time since May 2018. Mounting hopes that a last-minute deal can be struck between the UK and EU...
Pound to Dollar Rate Recovers Losses

Pound to Dollar Rates: Pound Slips from Multi-Year Highs as Brexit Concerns Resurface

The pound spent much of yesterday extending multi-year highs against the dollar. Continued optimism about the chances of a post-Brexit trade deal, combined with hopes that a US deal could be easily achievable, gave it added momentum. According to the EU’s chief Brexit negotiator Michel Barnier, there had been “good progress” in negotiations on Thursday morning. Meanwhile, US Trade Representative Robert Lighthizer told reporters that a free trade agreement with the UK was “extremely likely”. The upbeat comments from both sides of the Atlantic...
The pound to euro and pound to US dollar rate has had an awful start to the week, sliding from some of the better points of last week by nearly 3%.

Pound to Dollar Rates: Pound Rallies to Two-Year High Against Dollar

If Christmas is a time for hope, then Ursula von der Leyen was in the festive spirit yesterday as post-Brexit negotiations rumbled on. The European Commission President was cautiously optimistic, saying a "narrow path" has appeared for the UK and EU to strike a trade deal, adding both sides are working "day and night" to achieve this. The optimism – which coincided with a weakening dollar and better-than-expected UK services sector figures – propelled the pound to dollar rate to its strongest level in...
Pound to dollar rates: pound’s gains capped by Brexit uncertainty

Pound to Dollar Rates: Pound’s Gains Capped by Brexit Uncertainty

The pound spent yesterday morning reversing last week’s losses against the dollar. It was pushed higher by the EU and UK’s decision to “go the extra mile” and continue Brexit trade negotiations beyond Sunday’s deadline. It was a firm push, causing the pound to dollar rate to rally sharply from the lower reaches of the 1.32 level into 1.34 territory. An easing of no-deal rhetoric added weight to its resurgence: on Sunday Boris Johnson said it was “the most likely” outcome, but by Monday Downing...
Pound to Dollar Rates: No-Deal Nerves Intensify for Pound

Pound to Dollar Rates: No-Deal Nerves Intensify for Pound

The pound to dollar rate ended last week by plunging into 1.31 territory for the first time since mid-November, before settling back above the 1.32 level. A jaded pound was winded by comments from Prime Minister Boris Johnson, who said a no-deal Brexit looked "very, very likely". Having taken a tumble in the wake of the gloomy outlook, the pound’s fall was broken slightly when the German and Irish foreign ministers said an agreement between the UK and the EU was still on the...
Pound to Dollar Rate Subdued by Britain’s Pandemic Woes

Pound to Dollar Rates: Deadlock at Dinner Upsets Appetite for Pound

The pound managed to recover nearly all this week’s losses yesterday, as it rebounded back above 1.34 against the dollar – hitting its highest point this week. Unsurprisingly, post-Brexit trade talk updates were responsible for the resurgence. The all-important breakthrough moment remained elusive, but news that Boris Johnson was travelling to Brussels to have dinner with EU Commission President Ursula von der Leyen yesterday was well received – as were his comments before setting off, telling MPs "a good deal is still there to...