Pound to Dollar Rate Reverses Early Gains

Pound to Dollar Rate Remains at the Mercy of Brexit Headlines

With the Brexit transition deadline – the point at which the UK stops following EU trading rules – rapidly approaching, the pound is getting "jittery" about the ongoing and as-yet unresolved trade talks. This is making the pound to dollar rate increasingly sensitive to headlines about the progress of UK-EU negotiations. Contrasting rhetoric from EU officials left traders scratching their heads yesterday: after Michel Barnier, the EU’s chief Brexit negotiator, had told MEPs that talks would not continue past Wednesday, a European Commission spokesperson told...
Pound to US Dollar Exchange Rate Rebounds as Boris Heads to Brussels to Break Brexit Deadlock

Pound to US Dollar Exchange Rate Rebounds as Boris Heads to Brussels to Break...

The pound to dollar rate dropped by more than 1 per cent on Monday, slipping below the 1.33 level in the process – and putting the pair on course for its worst day in three months. Hopes for progress towards a UK-EU trade deal over the weekend were dashed as Brexit talks remained deadlocked. Terms like “hanging in the balance” and on a “knife-edge” were again rolled out by officials to describe the current state of negotiations. The pound had firmed towards the end...
Pound to Dollar Forecast: Brexit Talks Hang in the Balance

Pound to Dollar Forecast: Brexit Talks Hang in the Balance

As Friday dawned, a glimmer of hope remained that London and Brussels might agree a post-Brexit trade deal before the week was out – and the pound to dollar exchange rate could rise to multi-month highs on the back of subsequent sterling strength. What actually followed has been akin to a soap opera: break ups, accusations, reconciliations, and plenty of uncertainty. Instead, the weekend ended with both sides declaring a pause in negotiations after failing to overcome deep-rooted disagreements – with British officials accusing their...
Pound to Dollar Rate Recovers Losses

Pound to Dollar Rates: Crunch Time in Post-Brexit Trade Deal Talks

To say post-Brexit talks are delicately balanced is an understatement, with tension and standoffs par for the course at this crunch stage. Take the constantly fluctuating headlines for example: one minute they indicate we’re heading for a deal, the next they suggest it’s in danger of being knocked off course – and yesterday was no different. The pound to dollar rate not only continued its steady march back into 1.34 territory; it hit its highest level this year – bumping its head on the...
Pound to Dollar Rates: Crunch Time in Post-Brexit Trade Deal Talks

Pound to Dollar Rate: Will the Pound Recover?

What a difference a day can make in the dynamic world of exchange rates. On Tuesday, the pound to dollar rate was busy climbing above the 1.34 level for the first time in three months on the back of optimistic post-Brexit headlines. However, yesterday the pair was forced to make a rapid descent, briefly dipping below 1.33, after the EU’s chief Brexit negotiator, Michel Barnier told EU ambassadors in Brussels that "a deal hangs in the balance”. Mr Barnier sought to reassure his audience that...
Pound to dollar rate hits three-month high

Pound to Dollar Rate Hits Three-Month High

The pound to dollar rate threatened to break through 1.34 towards the end of last month, only to be held back by post-Brexit uncertainty and fresh lockdown restrictions in the UK. As December dawned yesterday, the pair was finally propelled above the major resistance level for the first time in three months. Optimism that a trade deal can be struck with the EU at "the 59 minute of the 11th hour" fuelled the surge before lingering concerns resurfaced – sending the pair back where...
Pound to US Dollar Rebounds on Trade Deal Speculation

Pound to US Dollar Rebounds on Trade Deal Speculation

The pound to us dollar rate began the week in better spirits than it ended the last when Brexit uncertainty was giving it a headache. While trade negotiations between London and Brussels remain finely balanced, media reports over the weekend suggested the EU could be "tempted" to agree a post-Brexit deal in the coming days – with both sides needing to seal an arrangement by Saturday to get it ratified by 31st December. This would be a favourable outcome for the pound, giving it...
GBPEUR Drop Could Signal More Euro Gains

Pound to Dollar Forecast: Brexit Uncertainty Weighs on GBPUSD Rate

Why is the pound falling? One word: Brexit Brexit has become the driving force for the pound in recent weeks. So, with trade talks still stalling ahead of the 31st December deadline, it came as little surprise that the pound to dollar rate was feeling the pressure late last week. This was exacerbated by media reports that the EU’s chief Brexit negotiator, Michel Barnier would cancel his planned trip to London on Friday unless the UK was willing to offer concessions – causing the pair...
Pound to Euro forecast General Election confirmed

GBPUSD – US Election Results Keep Markets Volatile Overnight

The pound has had a fairly volatile night against most major currencies, including the GBPUSD rate, these sort of global events do not only impact the currency attributed to the election (USD) but an election of this magnitude can impact all major currencies as it can alter investors market sentiment and attitude towards risk. On top of this for Sterling exchange rates it is thought, not set in stone that with Trump being close with U.K Prime Minister Boris Johnson that the U.K may find...
Pound to Dollar Rate Recovers Losses

GBPUSD Weakens on US Election Day

The GBPUSD exchange rate look set for a volatile few days ahead, with the final day of the US election taking place today and the result to be announced later this week. Going into the last day of voting, Joe Biden is currently leading the national polls against Donald Trump and the markets are expecting a Biden victory, with USD having made gains against sterling over the past week. However, the same was true in 2016 when Hilary Clinton was leading the national polls...