Oil Price Volatility Expected to Continue, Could GBPCAD Break Through 1.80 Barrier?

Sterling remains rangebound, but could tomorrow’s economic data releases cause a spike?

Sterling exchange rates traded within a think range during yesterday’s trading session, with the GBP/EUR exchange rate trading within a range of just half a cent. Since breaking above the 1.15 threshold the GBP to EUR exchange rate has mostly hovered between 1.1500 and 1.1550 and that’s where the pair are trading at the time of writing. After quite a volatile month or two, especially in the wake of the Mini-Budget almost two-months ago, the markets seem pretty calm. This may continue throughout the week as...
GBP EUR Exchange Rate: The Week Ahead June 12th

Will the Pound recover its recent losses against the Euro?

Despite the rate of cable (GBP/USD) climbing as a result of US Dollar weakness, the Pound has been slowing softening against the Euro throughout November so far. Between the middle to late October the Pound remained a good few cents above its current trading levels against the Euro, and even climbed above 1.1650 at one point offering Sterling sellers a good opportunity to make their GBP/EUR currency exchanges. The climb in the Pound last month was a surprise as Sterling climbed by almost 10-cents from the...
GBP USD Exchange Rate Falls to Two-Year Low Amid Political Uncertainty 

Will Liz Truss lead the Tories into the next election and how will this...

Despite being appointed as Prime Minister just over a month ago on the 6th of September 2022, Liz Truss is already coming under pressure and there is speculation regarding her remaining in power already. The Pound has traded in a more speculative fashion over the past month than it has done for years after a disastrous mini budget which sent shockwaves throughout financial markets, and saw the Pound trade against the lowest level against the US Dollar in recent history. Truss appointed Kwasi Kwarteng as Chancellor...
GBP AUD Moves Higher with a UK GDP Boost 

Will Sterling continue to lose value despite the Bank of England’s efforts?

Sterling exchange rates have begun the week on the back foot despite efforts from the Bank of England to support the currency and the UK economy as whole. After hitting an all-time low against the US Dollar two weeks ago, and an over 18-month low against the Euro at the same time, the Pound begun a fightback thanks to some backtracking by Chancellor of the Exchequer Kwasi Kwarteng after a disastrous first mini-budget. Those of our readers hoping for a stronger Pound will also be aware...
GBPEUR UK election: Why haven't pound to Euro exchange rates fallen?

Pound hits record low against the US Dollar, and drops significantly against the Euro

Yesterday was a very difficult day for the Pound as financial markets appear to have lost faith in both the Bank of England’s monetary policy and the new cabinet’s mini budget. Last Thursday the new Chancellor of the Exchequer, Kwasi Kwarteng announced his mini-budget outlining plans for a raft of tax cuts. Then over the past weekend he pledged further tax cuts in order to try and reinvigorate the UK’s stalling economy and attempt to counter the increasing inflation rates not seen in decades. His plans...

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...

Pound Sterling Weakness – Why Is The Pound Dropping So Much?

Sterling exchange rates have taken a huge hit over the course of the days trading, as the new chancellor Kwasi Kwateng's mini-budget appears to have knocked the pound totally out of fashion. The pound has lost over 350bps against the Dollar sitting in the 1.08 territory, whilst dropping to 1.12 against the Euro and hitting the lowest level against the Swiss Franc since 1974 sitting in the 1.06s. There is now talk of an intervention and whether HMT will make an attempt late on Sunday night...

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...
Pound to Euro rate continues to fall, making history in the process

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...