Sterling under pressure against the euro and dollar – will the pound weaken further?
Sterling under pressure against the euro and dollar – will the pound weaken further?
Sterling exchange rates have once again come under pressure following comments from Fed chairman Jerome Powell and Bank of England member Catherine Mann regarding future interest rate policy.
GBPEUR is trading within range of the 5-month low, which makes now an opportune time for euro sellers. A transfer of €100,000 is buying £3500 more vs the 5-month high for GBPEUR. Cable (GBPUSD) has also clawed back and is very close to the...
Sterling exchange rates remain under pressure despite upbeat data releases
During yesterday’s trading session the GBP/USD exchange rate dropped below the key 1.20 handle, even if only for a brief moment but it’s a sign of the Pound coming under pressure regardless.
The Pound has also lost some ground against the Euro and after spending some time trading in the 1.13’s and testing 1.14, the pair are now firmly in the 1.12’s despite some better-than-expected economic data releases out of the UK.
There has been a lot of talk and media headlines warning of a recession...
The Pound holds onto yesterday’s gains, but where to next for GBP exchange rates?
Sterling exchange rates saw a small relief rally yesterday after news broke that the Northern Ireland Brexit deal has been agreed between the UK and the EU.
After recently dropping below 1.20 against the US Dollar, which is a key threshold the GBP/USD pair broke back above this level with the Pound climbing by roughly 1% against the US Dollar. There were also gains for the Pound against the Euro although not to the same extent. GBP/EUR remains in the 1.13’s with the pair remaining...
Will the Pound continue its recent run of form next week?
Pound vs Euro remains strong this week
The Pound Euro is close to its best rate to buy Euros in a few weeks after a solid start to the week.
The Purchasing Manager's Index helped to demonstrate that the UK economy is faring a little than many may have expected including myself.
After having recently avoided a recession in the UK there are a few bright shoots appearing at the moment.
However, with inflation still causing a huge problem for consumers at the moment there are still a...
Why has the Pound begun to improve against the Euro this week?
Major economic data releases helping the Pound, and causing disruption for other major currencies
This week we have seen the Pound benefit from several economic data releases, surprising the market with more positive than expected readings, as well as some weaker data coming out of the European bloc.
The Purchasing Manager’s Index reading, which is a great indicator of the UK services sector’s economic position, posted above 50 to signal that this sector is now expanding in the latest month, as well as the manufacturing and...
Will the Pound continue to fall against the Euro & the US Dollar?
Sterling begun the week in a subdued fashion and traded within a very thin range throughout yesterday’s trading session.
There was little economic data released pertaining to the UK economy outside of housing data, which showed that property prices rose by just £14 between January and February which is the smallest increase reported by Rightmove since the property website begun recording property prices.
Throughout the day GBP/EUR barely broke a trading range of 25 pips, and this morning this trend of thin ranges has continued although...
Sterling continues to climb but will this week’s data releases reverse this trend?
Sterling has managed to climb back above the 1.1300 trade level against the Euro and so far this week, it’s managed to remain above this level thanks to some better than expected data released this morning.
The GBP/EUR rate fell below 1.1150 earlier this month when the Bank of England hiked interest rates as expected to a base rate of 4%, but provided a dovish commentary in the minutes afterwards which put pressure on the Pound’s value.
Sterling has recovered against the Euro, and the US...
Sterling exchange rates are the biggest loser after last week’s interest rate changes
Although recovering to a certain extent from the multi-month lows seen late last week, the Pound appears to be now trading within new trading ranges after last week’s interest rate increase from the BoE (Bank of England).
In regards to the GBP/EUR exchange rate, it has been trading between 1.1300 and 1.1400 in the lead up to BoE monetary policy updates for good few weeks but now that the announcements have taken place we’re seeing new ranges.
At the time of writing GBP/EUR is trading just...
Monetary policy meetings and interest rate hikes – Will the Pound weaken further this...
The week ahead will be a major one for the Pound, Euro and US Dollar will all three respective central banks announcing further developments in their battle to reduce inflation back to target levels, through their monetary policy meetings this week. Monetary policy meetings and decisions on interest rates help us to understand the current health of the economy, which is the main influence on a currency’s value and, any adverse movement away from the expectation within the market, may result in volatile movement.
The...
GBP exchange rates remain flat despite concerning economic data released this morning
Government debt within the UK has reached its highest December figure on record according to figures released this morning. The currency markets have barely been impacted though, as these figures were expected, but it is a concern for the UK economy moving forward and could weigh on the Pounds value.
The government’s decision to support households and businesses with rising energy bills, along with increasing interest rates increasing the debt burden on national debt has pushed UK government borrowing to a record December high of...
