GBP AUD Dips Again Ahead of BoE Rate Decision

Could this week’s busy schedule push GBP exchange rates out of their comfort zone?

Sterling exchange rates have been gradually climbing against the majority of major currency pairs in recent weeks. The change in government leadership, and financial planning in September has helped this cause and resulted in a steadier Pound. To put this into perspective, the rate for cable (GBP to USD) is currently trading close to it’s 6-month high after recovering from the lowest levels on record in late August and early September. Additionally, the GBP to EUR exchange rate is trading towards the highest levels in 3-months...

Red hot week for economic data, as temperatures across the UK plummet

Things have been looking brighter for the pound in recent weeks and the pound finished last week strong, after suffering a near two and a half cent (1.2345 to 1.2106) slide against the greenback (GBP/USD) from Monday to Wednesday. The pound has benefited from an improved ‘risk on’ appetite in recent weeks and responds well to positive news. Cable finished the trading week on the 1.23 handle. The positive news in question relates to recent comments from US Federal reserve chair Jerome Powell’s comments around...
Pound to Euro Starts the Week off Steady

Is the pound set to weaken?

Sterling exchange rates hang in the balance Sterling exchange rates once again hang in the balance following a subdued start to the week. Yesterday, the pound recovered most of the gains lost during Tuesdays session, however, struggled to break much higher. Data released on Monday triggered the sterling sell-off after the pound had risen to monthly highs against the dollar and the euro towards the end of last week. PMI data confirmed the UK services industry contracted last month, which is negative for the country’s economic...

Will Sterling continue to rally after hitting annual lows just a few months ago?

Sterling exchange rates have rallied in a dramatic fashion after hitting both annual, and record lows in some cases, as recently as just 3-months ago. During late August and early September, the Pound was in the headlines for all the wrong reasons when the disastrous and poorly planned mini-budget was announced. In the wake of the Chancellor at the times updates, the Pound fell to its lowest levels against the US Dollar on record and also stuck annual lows against the majority of major currency...

Sterling back on the front foot – will the rise continue?

Sterling back on the front foot – will the rise continue? Pound sterling has started the days trading on a positive foot gaining ground against a basket of major currencies. GBPEUR is trading within half a cent of the three-month high. Cable (GBPUSD) is trading close to four-month highs. A transfer of £100,000 is buying $17,000 and €8000 more vs the low of the last three months. Now could present a window of opportunity for those looking to buy foreign currency with sterling. Figures released yesterday showed...
New Zealand Dollar weakens further as Global Dairy Trade auction falls lower than expectations

Will the Pound continue to improve against the US Dollar?

Pound Dollar rates hit 3 month high The Pound vs the US Dollar is now trading at its best levels to buy US Dollars with Pounds since the end of August. With the Pound improving this has created some good opportunities for those looking to convert Pounds into US Dollars. The US Dollar has slowly begun to weaken following falls in US inflation recently as it appears as though the Fed's policy of interest rates has started to work. Inflation is still extremely high in the UK whilst...

Sterling hits two-month highs against the dollar

Pound Sterling Forecast – Sterling hits two-month highs against the dollar The pound continued it’s positive start to the week during Wednesday’s session rising to a 2-month high against the US dollar and a 3-week high against the euro. £100,000 is buying €3000 and $9000 more vs the low of the last month. If purchasing an overseas property or running a business with currency exposure. The pounds gains have significantly reduced the cost. The last few weeks has been full of negative economic data for the UK....
Oil Price Volatility Expected to Continue, Could GBPCAD Break Through 1.80 Barrier?

Sterling remains rangebound, but could tomorrow’s economic data releases cause a spike?

Sterling exchange rates traded within a think range during yesterday’s trading session, with the GBP/EUR exchange rate trading within a range of just half a cent. Since breaking above the 1.15 threshold the GBP to EUR exchange rate has mostly hovered between 1.1500 and 1.1550 and that’s where the pair are trading at the time of writing. After quite a volatile month or two, especially in the wake of the Mini-Budget almost two-months ago, the markets seem pretty calm. This may continue throughout the week as...

Will The Pound Keep Rising This Week?

The Pound has had a fairly good week or two against most major currencies, so I thought I would look at the probability that Sterling exchange rates would continue to gain ground against them over the course of this week. Now that the Autumn statement has passed without any huge drama, unlike Kwasi Kwarteng's attempt, there is a feeling that there is a little more confidence in the U.K and investors are starting to head back into UK stocks and shares, thus heightening demand for...

Will the Pound rise after the Autumn Statement?

Autumn Statement and impact on Sterling exchange rates The eagerly anticipated Autumn Statement was released yesterday which had the effect of calming the currency markets, much to the relief of anyone looking to buy Euros or buy US Dollars at the moment. The statement included increased tax rates as well as a curb in public spending in an attempt to fill the void in public finances that the UK faces. A stark warning was also given by the Office for Budget Responsibility as it warned that households...