Pound to US Dollar forecast Brexit continues to subdue business confidence in the UK

Positive data and Brexit progress causes Sterling strength

Employment data and average Earnings gives the Pound a boost Yesterday provided some much needed positive data for the UK. Things were looking very bleak following recent inflation, retail and GDP data. GDP landed at 0.1% the worst figures for five years. A rate hike from the Bank of England (BOE) was no longer justified and investors lost faith in the pound with the chance of a rate hike in 2018 looking like a long shot. Employment data was released yesterday and proved to be impressive, ...
GBP USD Exchange Rate Pulls Back as UK Inflation Hits Fresh 40-Year High 

US Dollar hits 4 month high against the Pound

The Pound has fallen by over 5% since mid-April after hitting the best level to buy US Dollars with Pounds since the Brexit vote back in June 2016. Sterling has really struggled during this time owing to a number of poor economic data releases including much lower than expected GDP data for the first quarter of 2018. Growth for the quarter came in at just 0.1% which was slowest period of growth since 2012. We have also seen a slowdown in both Manufacturing and Services data...
Pound to Euro Starts the Week off Steady

GBP Rates Set For Volatile Period ahead over Political Uncertainty

The pound could be set for an extremely volatile month ahead with British politics and Brexit about to act as a major driver for the price of sterling once again. With local elections taking place in England today, any big swings from one party to another could create additional volatility for the pound. There are 4,400 council seats up for grabs making up the total of 150 local government authorities. Tomorrow morning could see a very interesting start to the day ahead of the...

Brexit debate weighs on the Pound’s value

The pound has had a torrid time in recent weeks, with GBPUSD exchange rates falling 7 1/2 cents. To put this into monetary terms a £200,000 transfer into US dollars achieves clients $15,000 (5.15%) less. Many of my clients took advantage of the fantastic rates we were achieving in early March as I thought it was only a matter of time until the Brexit negotiations would put pressure on the pound. At the moment the Conservative party are split down the middle in regards to...
Pound to Dollar Rate Feel Weight of Rising UK Covid Cases

GBP Forecast – What Impact will UK GDP Figures & Mark Carney’s Speech Have...

Sterling found further support yesterday, making gains against the USD and many of the other major currencies. Cable rates spiked, the USD has found plenty of support early this morning. GBP/USD have dropped back below 1.39, with 1.40 now likely to provide a lot of resistance ahead of this afternoons key economic data releases. Those clients with an upcoming GBP currency transfer to execute should be keeping a close eye on developments. This morning we have the latest Gross Domestic Product (GDP) figures, released at 09::30. This...
GBPEUR Bounces on the Day with Limited Data Due

What can we expect next for the pound?

The pound seems to be gently pushing forward as confidence over an interest rate hike keeps the pound elevated against its counterparts. Sterling is higher against pretty much all currencies bar the US dollar which itself has been much stronger in the last week as investors confidence in the US economy rose. The next stage post for the pound is tomorrow's UK GDP (Gross Domestic Product) data which could easily be a market mover. Tomorrow's news will be the first estimate of Q1 GDP. This...
Trade wars and Brexit to dictate pound to US dollar exchange rates

Sterling Exchange Rates before House of Commons Debate

The pound is moving in different directions against the Euro and the US dollar with a number of factors influencing the rates. GBP EUR remains close to an 11 month high with levels sitting at 1.1450 for the pair whilst he pound has moved lower against the US dollar with levels currently sitting below 1.40 which is some way below the recent high of 1.45. Today sees an important debate in the House of Commons on whether or not Britain should remain in a...
GBPEUR Sees a Sharp Rebound with ECB Stimulus Plans

Will tomorrow bring further strength for the Pound, and which factors could effect GBP...

The sell-off in the Pounds value that begun last week appears to have stabalised at least for now, as GBP exchange rates with one or two exceptions appear to be back on the charge. Sterling has gained in value against every major currency pair today with the exception of the US Dollar, which is one of the strongest currencies around at the moment due to the high yield offered on USD deposits now that the Fed Reserve Bank in the US has begun hiking interest...

Theresa May to influence sterling exchange rates

Tomorrow UK Prime Minster Theresa May will be making her case that the UK are leaving the customs union, even though the House of Lords last week voted in favour of remaining. The PM is stuck between a rock and a hard place as she continues with her stance that she the UK public have spoken and therefore the UK will leave the EU and therefore the customs union, but at the same time she wants the Irish border to remain as a soft...

Poor data releases could hold back BoE rate hike

Inflation and Retail Sales a concern for the BoE Following a host of positive data releases we saw significant gains for the pound against the majority of major currencies. GBP/EUR breached 1.15, GBP/AUD nearly broke 1.85 and GBP/USD got close to 1.45. There was a large rise in average wage growth and unemployment hit a 43yr low. A transitional deal was all but agreed for Brexit, granting the UK access to the single market for two years until a full exit from the EU. This all...