Sterling hits two-month highs against the dollar
Pound Sterling Forecast – Sterling hits two-month highs against the dollar
The pound continued it’s positive start to the week during Wednesday’s session rising to a 2-month high against the US dollar and a 3-week high against the euro.
£100,000 is buying €3000 and $9000 more vs the low of the last month. If purchasing an overseas property or running a business with currency exposure. The pounds gains have significantly reduced the cost.
The last few weeks has been full of negative economic data for the UK....
Will The Pound Keep Rising This Week?
The Pound has had a fairly good week or two against most major currencies, so I thought I would look at the probability that Sterling exchange rates would continue to gain ground against them over the course of this week.
Now that the Autumn statement has passed without any huge drama, unlike Kwasi Kwarteng's attempt, there is a feeling that there is a little more confidence in the U.K and investors are starting to head back into UK stocks and shares, thus heightening demand for...
Why Are Sterling Exchange Rates So Low? Why Is The Pound Dropping?
Sterling exchange rates have taken another huge hit overnight as the trend of weakness for the pound continued straight at the start of the open on the Asian markets last night.
The Pound dipped all the way down to the 1.02s against the Dollar and the 1.07s against Euro as investors and speculators rushed to drop the currency and this caused a great deal of weakness.
So why are Sterling exchange rates dropping?
Since the announcement of the mini-budget and Kwasi Kwarteng's plans to cut taxes we...
Three Key Events in a Vital 72 hours for GBPEUR and GBPUSD Exchange Rates
The beginning of this week in the UK was very sombre with Her Majesty’s funeral and a UK Bank Holiday. This meant UK markets were shut, and ensured a fairly sleepy start to the week from a currency perspective, with sterling still nestling in the doldrums following the poor Retail Sales data from last week.
The rest of this week looks far from calm however, with three key events that could trigger market movements for the pound, US dollar, Euro and many other currencies. The...
Pound at its lowest against the Euro in 19 months, and 37 years against...
The pound is notably weaker today following the release of the latest UK Retail Sales numbers showing a surprise fall of 1.6%, which makes the economic slowdown anticipated, and likely recession ahead seem much worse than thought for Britain.
As I write, GBPEUR levels have dropped to a 19-month low, with the day low at the time of writing 1.1399 on GBPEUR and 1.1350 on GBPUSD. The cable level is a 37-year low, the worst for sterling since 1985 against the US dollar. I am...
US Inflation figures give Dollar a huge boost in Tuesday’s trading
The Dollar has had a really positive day of trading against both Sterling and the Euro, with a gain over 1% against both during the Tuesday trading session.
This is mainly down to higher than expected inflation numbers, overall CPI (Consumer Price Index) figures were released at 8.3% as opposed to expectations of 8.1% and given the Federal Reserve’s robust stance on interest rates this has heightened the chance of further aggressive rate hikes in the months to come.
For those that are not regular readers...
Pound Sterling losses continue as cost of living crisis dominates headlines – New Prime...
Sterling exchange rates have continues to drift to kick start a new trading week, as the cost of living crisis dominates headlines across UK media.
With today being an important day for UK politics as we see the announcement of the winner in the Conservative party leadership contest, and ultimately who will be the new Prime Minister, they will almost instantaneously have to announce how they plan to combat what appears to be an extremely challenging winter for the majority of households and businesses.
It is...
NAFTA deal still far from sewn up
US threatens non-approval on NAFTA deal if there is no firm proposal in place in three weeks.
The North American Free Trade Agreement (NAFTA) is currently in the process of being renegotiated. NAFTA is a free trade deal between the Sates, Mexico and Canada. Trump has made very clear he is unhappy with the current deal and has called it "the worst trade deal in history."
The results of the new negotiations could have huge ramifications fro the Canadian Dollar, the US is Canada's largest trading partner. If...
Bank of Canada dovish which leads to Canadian Dollar weakness – NAFTA concerns starting...
We have seen further weakness for the Canadian Dollar during trading today following on from the Bank of Canada Governor Poloz offering a fairly dovish view on the economy in a speech last night.
The NAFTA agreement or more importantly the uncertainty behind it is starting to weigh heavily on business confidence in Canada, along with the continued strength of the U.S Dollar which is also leading to the Canadian Dollar weakening.
The rise for U.S treasury 2-year notes compared to Canadian 2-year notes is now...
Bank of Canada members to set the scene for the Canadian Dollar as the...
Following on from a fairly flat day for Canadian Dollar exchange rates we have a few points of note for you to keep an eye out for if you have Canadian Dollars to exchange in the near future.
Two members of the Bank of Canada are speaking today, Governor Poloz is speaking shortly and later on in the trading day we also have BOC Deputy Lane speaking later in the afternoon.
Poloz is not expected to raise any large movements, as he speaks at the unveiling of...
