GBP to US Dollar rate improves as Fed Reserve Bank adopts dovish stance

US Dollar remains strong despite drop in US Consumer Confidence, will GBP/USD fall below...

The US Dollar has remained strong despite weak data out of the US yesterday. The confidence index measures US consumer confidence and during June it fell from 128.8 down to 126.4. This did little to dent the greenback's strength and personally I expect to see the US Dollar become a bit stronger in the upcoming weeks for a number of reasons. Oil prices are remaining high at the moment as the owing to a number of reasons, and as oil prices are denominated in the greenback...
Pound to Dollar Rate Touches Fresh Multi-Month High

UK businesses issue a warning to Theresa May ahead of the EU summit

At present the UK Prime Minister Theresa May is planning her approach for the EU summit which is set to start on Thursday. It's been highlighted by many financial institutions that the summit has the potential to have a considerable impact on Sterling exchange rates, as the negotiations are being labelled as the most important in the process so far. In recent weeks there is an argument to suggest that cracks are now starting to appear in UK business, as many are either announcing that...
The reasons why I think GBPUSD exchange rates could fall below 1.30 this month

Economic data out this week that may impact GBP/USD

We have a fairly busy trading week ahead for GBP/USD exchange rates, on top of the political and economic developments from president Trump we also have a number of key economic data releases too. Trade war concerns still continue to be rife around the markets as Donald Trump is still happy to throw his weight around, most recently taking a swipe at the European motor market and pledging a 20% tax on European cars. His latest move is another attempt to bolster the U.S economy and...
GBP to CAD forecast Will the Bank of Canada keep interest rates on hold?

Sterling Supported on Prospect of August Rate Hike

The Pound received a boost yesterday following the Bank of England meeting which highlighted that some policy makers are leaning towards higher interest rates. Andy Haldane who sits on the Monetary Policy Committee voted for a hike resulting in a 6-3 vote to maintain rates at current levels of 0.5%. It is now looking like there could be a rate increase in August if another 2 members decide to raise interest rates at the next meeting and this is providing some support for sterling...
Pound Sterling Recovers Against Euro but Brexit Talks Expected to Limit GBP

GBP Forecast – Theresa May Wins Crucial Brexit Vote (Matthew Vassallo)

It’s been a positive day for Theresa May, following news that the government had won today’s crucial vote inside the House of Commons. Victory was achieved by a narrow margin of 319 to 303, meaning that the government did not need to add any clause into the Withdrawal Bill in the case of no Brexit deal being agreed. Despite this victory the market’s reaction was muted, with Sterling making only minimal gains against the US Dollar. MP’s were given assurances that they would have a meaningful say...
Trade wars and Brexit to dictate pound to US dollar exchange rates

GBP Forecast – Another Tough Day for the Pound

It’s been another testing day for the Pound, which has seen its value decrease against the majority of major currencies. GBP/EUR rates have remained fairly flat throughout the day, with the pair range bound between 1.13750 – 1.1423. This is likely due to the recent pressure, which has been building on the Euro. The Eurozone economy has flattened of late, with political instability and concerns over trade wars cooling investor confidence in the single currency. This in turn has helped support Sterling around the current levels...
Pound to Euro: Bank of England Keeps Interest Rates on Hold

Pound makes gains vs the Euro and could we see further gains when the...

The Pound has had a good end to the week vs the Euro after much better than expected UK Retail Sales data which were published on Thursday morning. The better weather caused Retail Sales to jump higher than the estimated figure and this in part caused the Pound to have the biggest improvement against the Euro in one day all year. The good news was further exacerbated by the European Central Bank's announcement to end their QE programme in December. The previous expectation was to end it...
Pound to Dollar Rate Touches Fresh Multi-Month High

Big movement ahead for the US Dollar

We could be in for a very busy next 24 hours for GBPUSD exchange rates as the House of Commons begin their second day of debating the EU Withdrawal Bill as well as the latest interest rate decision by the US Federal Reserve later on this evening. The debate in the House of Commons has already caused one minister to hand in their resignation and so far we have seen a 26 majority to reject an amendment made by the House of Lords at their...
Pound to Euro Starts the Week off Steady

Pound makes gains against the Euro and the US Dollar but how long will...

The Pound made some gains yesterday after much better than expected UK Services Sector data which showed a rise to 54 compared to the previous month which was 52.8. This has given rise to a hint that interest rate rises may be discussed again but until we have a flurry of good economic data I do not foresee a rate hike coming in the near future for the UK. The Pound is now trading above 1.14 against the Euro and also 1.34 against the US Dollar...

Improvements for the Pound but are They Sustainable Under Current Market Conditions?

It’s been a positive day for Sterling, which has made gains against a host of the major currencies. GBP/EUR rates have moved back above 1.14, hitting a high of 1.1462 earlier today. GBP/USD rates have also spiked towards 1.34, although the greenback has manged to find plenty of support just under this threshold. There were also significant gains against the commodity-based currencies, with GBP/AUD, GBP/NZD & GBP/CAD rates all rising by more than a cent. The Pound received a boost yesterday following the release of better...