GBP Forecast – Will the Pound Continue to Gain in Value This Week?
Much of today’s focus centered around UK Chancellor Philip Hammond’s Spring Statement, which was predictably upbeat and bullish in its delivery.
The Chancellor signaled stronger growth, despite the on-going market concerns around Brexit, with UK Gross Domestic Product (GDP) forecasts upgraded from 1.4% to 1.5%. Whilst this was only a modest improvement, the government also expect borrowing to decrease throughout the year and inflation to fall back to their 2% target by 2019.
The Pound reacted positively throughout the day, making gains against most of the...
Sterling Exchange Rates Rally Close to 1.13 for GBP EUR
The pound continues to trade within a tight range as the markets still await new developments in the Brexit negotiations. The pound is currently trading at 1.1270 against the Euro and 1.39 against the US dollar having seen reasonable gains across the board today. Those clients looking to sell Euros for pounds have been presented with another good opportunity to convert. The focus is now largely on Brexit with the terms of the transitional arrangement expected to go through in the next couple of...
Sterling Exchange Rates Rally ahead of Expected Theresa May Speech
The Pound has rallied higher today against nearly all of the major currencies with good gains against the US Dollar. Rates for GBP USD have touched 1.40 earlier today. The surge in Sterling has come about following yesterday’s government meeting at Chequers which supposedly found unity within the government on its approach to the upcoming Brexit trade negotiations.
Reports are suggesting a slightly softer Brexit with no customs union which the markets are taking positively and has helped lift sterling. More will be offered next...
