Pound to US Dollar Forecast: Mixed Messages on GBPUSD Exchange Rates

Pound to US Dollar Forecast: Mixed Messages on GBPUSD Exchange Rates

The pound to US dollar exchange rate has entered the weekend in a mixed pattern, having been rather volatile and uncertain this week. The movement between the high and the low on GBPUSD interbank exchange rates works out at 1.2329 up to 1.2609, with us finishing in the 1.25’s so closer to the highs than the lows. This was a very busy week of economic news for the US with the Jobless Claims total having risen to over 30 million since the start of the...
Pound to US Dollar Exchange Rate Falls Due to Worse Than Expected UK Manufacturing Data

Pound to US Dollar Exchange Rate Falls Due to Worse Than Expected UK Manufacturing...

The pound to US dollar exchange rate has fallen today as UK Manufacturing data reflected a bigger fall then expected, triggering sterling losses across the board. GBPUSD interbank exchange rate slipped from 1.2580 down to 1.2530. The move can also be attributed to concerns over US Jobless Claims yesterday which showed that since the lockdown measures were implemented in March, 30 million Americans had filed for unemployment benefits. The US dollar has been displaying its safe haven qualities throughout the crisis, with us witnessing a drag...
GBPUSD Surges as Dollar Weakens Across the Board

GBPUSD Surges as Dollar Weakens Across the Board

GBPUSD rebounded strongly from Wednesday’s low of 1.2390, almost reaching 1.2650 during yesterday’s trading, a bounce of 1.8 percent. The US dollar weakened following a raft of poor economic data. Weekly jobless claims increased by 3.8 million, personal spending contracted 7.5 percent in March, the largest decline on record, and personal income dropped 2 percent. The gloomy data increased fears about the impact of the coronavirus crisis shutdown. US Federal Reserve Keep Interest Rates on Hold The Federal Reserve left policy unchanged at Wednesday’s monetary policy...
Pound to US Dollar Extends Recovery Beyond 1.24 as UK Coronavirus Lockdown Eases

Sterling Gains Over the US Dollar as Poor US Economic Data Shows a Worrying...

Earlier in the year sterling sat in the high 1.34s against the US dollar only to fall to 1.15 as the coronavirus became a threat to the global economy. We have seen some restoration of faith in the pound with GBP/USD currently sat in the 1.24s and at its highest pound to dollar rates reached 1.2528 today on the interbank exchange. During times of global economic uncertainty the pound is often not the destination of choice. The imbalance between imports and exports does not fill...
Pound to US Dollar Rate: USD Weakens After Fed Interest Rate Decision

Pound to US Dollar Rate: USD Weakens After Fed Interest Rate Decision

Last night we had the interest rate decision accompanied by the April statement and the general tone from investors suggested that they were disappointed at the lack of forward guidance, leading to dollar weakness against most major currencies. US Federal Reserve Keep Interest Rates on Hold The Federal Reserve suggested that interest rates were likely to stay at rock bottom for a prolonged period of time, until the economy starts to look like it is back on track, but in general there was little in the...
GBPUSD Forecast: US Federal Reserve Keep Interest Rates on Hold as GDP Falls 4.8 Percent

GBPUSD Forecast: US Federal Reserve Keep Interest Rates on Hold as GDP Falls 4.8...

The US Federal Reserve confirmed that they would be keeping interest rates on hold for the time being allowing them to take stock of their recent interventions. The central bank has already cut inters rates to historic lows as well as introducing stimulus packages to the economy worth us to US$3trn in order to support the world’s leading economy. With the US having only began the lockdown towards the end of March the first quarter GDP figures which were published earlier today also showed some...
Pound to Us Dollar Spikes Above 1.25 Before Weak UK Data Sees a Retreat Back to 1.24 Level

Pound to Us Dollar Spikes Above 1.25 Before Weak UK Data Sees a Retreat...

This morning the GBPUSD interbank exchange rate was trading between a high of 1.2485 and a low of 1.2431. The pound rallied against the dollar yesterday pushing above 1.25 for the first time in over 12 days. Since Boris Johnson, the UK Prime Minister resumed work we have seen the value of the pound supported. In the UK we have over 160,000 cases of Covid-19, and the United States has pushed past the 1 million mark and the worst affected country. Globally there are over...
GBPUSD Trades at a Two-Week High as Coronavirus Cases Begin to Fall

GBPUSD Trades at a Two-Week High as Coronavirus Cases Begin to Fall

The pound has gathered some momentum during today’s trading session and is currently sitting around the 1.25 level, the best level for the pound since the middle of this month. Resistance sits around 1.2525, the high at this time and we need to wait and see whether there is enough of a boost to push through this marker. Risk appetite is beginning to creep back into the market as the number of coronavirus related deaths continues to fall and we get further insight in...
Pound to US Dollar Extends Recovery Beyond 1.24 as UK Coronavirus Lockdown Eases

Pound starts the week on the front foot vs the US Dollar

The US dollar has weakened so far this week against the pound as investors appear to be moving slowly away from the dollar’s safe haven status. The US Federal Reserve (Fed) are due to meet tomorrow evening to discuss their latest monetary policy decision. With the Central Bank having already announced a rescue package of $2.3tn as well as slashing interest rates to historic lows, there appears to be little more they might do in the short term to change policy as they need...
GBPEUR Forecast: Sterling Rises on Boris Bounce but for How Long

GBPEUR Forecast: Sterling Rises on Boris Bounce but for How Long?

GBPUSD has been struggling as the lock down continues and whilst a flattening curve develops with talk of an exit strategy, the economy is suffering badly. The pound is now trading at 1.2450, gaining 0.6 percent in this morning’s trading. Boris Johnson’s return to office has prompted investors to speculate about a possible easing of the lockdown measures. UK Lockdown Easing? The UK has reported its lowest daily death toll since March, but Dominic Raab has resisted calls to begin easing the current restrictions. Over the...