Bank of England Interest Rate Decision – When should I buy or sell the...
Pound sterling poised for Bank of England meeting tomorrow
Tomorrow is the eagerly awaited Bank of England interest rate decision. Expectations are locked on for a 0.25% hike from the Bank of England.
This will take interest rates in the UK to 4.5% and could lead to volatility for pound sterling. Exchange rates can be heavily influenced by changes in interest rate policy as I have written previously.
GBPEUR has hit fresh highs at 1.15 which is a six-month high. GBPUSD remains near the 13-month highs of...
Bank of England poised to raise again as high Inflation continues to cause problems
The pound has benefitted from the now apparently locked on expectations the Bank of England will raise interest rates at their next meeting Thursday May 11th.
This morning's Inflation reading has confirmed Inflation remained above 10% in March, coming in at 10.1%, a small decline from 10.4% of February but higher than expected.
Headline grabbing inflation for food costs, coming in at a 45-year high will leave the Bank with little choice in being forced to act to tackle rising prices.
The good news is that Inflation...
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...
Sterling exchange rates continue to slide – How low can the pound go?
Sterling exchange rates have seen further losses against both Euro and Dollar over the course of the trading week, as investors and speculators alike have made it clear there is a lack of confidence in the Pound at present.
With the cost of living crisis bearing down on the UK economy and a prolonged recession on the cards we have started to witness a move away from the pound and it appears that it is being treated much more like a riskier currency rather than...
GBP USD Exchange Rate Slides after GDP Data Shows British Economy Shrank in June
The pound tumbled against the dollar on Friday after eagerly awaited growth data showed Britain’s economy contracted in June – but by less than feared.
The Office for National Statistics (ONS) said gross domestic product (GDP) dropped by 0.6% in June – the most significant contraction in 17 months but not as steep as the 1.3% fall forecast by economists.
The figures compiled by the ONS also showed the economy contracted by 0.1% between April and June, compared with forecasts for a 0.3% drop. When comparing second-quarter economic...
GBP USD Exchange Rate Falls to Two-Year Low Amid Political Uncertainty
The pound sunk to a fresh two-year low against a surging dollar on Tuesday as the Conservative leadership contest gathered pace, adding to uncertainty in an increasingly beleaguered economy
The UK currency slid below 1.19 at the start of the week and extended its losses on Tuesday, hitting its lowest level since March 2020 before bouncing off 1.18.
Political chaos in Westminster compounded the UK’s concerning economic outlook, presently clouded by decades-high inflation, the risk of a recession, Brexit, and the cost of living squeeze.
Bank of England...
GBP AUD Inches Higher Despite Growth Downgrade
The GBP AUD exchange rate was higher by 0.10% on Wednesday despite a downgrade of the UK economy by the OECD. The OECD also cut growth for the global economy and that is weighing on the Aussie dollar. The larger than expected RBA interest rate hike is also set to hurt Aussie consumers further.
The GBP to AUD rate was trading at the 1.7425 level but the rebound has been weak.
British economic growth downgraded by the OECD
The British economy will grow by less than expected...
GBP EUR Higher After French Economy Shrinks
The GBP EUR exchange rate was 0.10% higher on Tuesday as Europe faced a slew of economic data that had mixed results. A shrinking French economy also saw an uptick in inflation, but the German unemployment picture improved to help the euro.
The GBP to EUR was trading near the 1.1750 level and trying to regain strength.
French economy contracts in first quarter, German employment weaker
France's economy slowed over the first quarter due to the impact of soaring inflation, increasing the risk for President Emmanuel Macron...
GBP EUR Starts the Week with German IFO Data
The GBP EUR exchange rate opens the week with German IFO business sentiment data. The index is expected to dip to 91.4 after last month’s 91.8 reading, but a gloomy update would not be a surprise. Meanwhile, the UK Chancellor has said that the government cannot stop inflation, but the Bank of England disagrees.
The GBP to EUR opened the week around 1.1830 after holding lower-level support.
Bank of England economist sees more rate hikes ahead
The Treasury must take responsibility to fight soaring inflation and the...
GBP EUR Exchange Rate: Weekly Review May 7th
The GBP EUR exchange rate was smashed lower on Thursday as traders reacted to the latest Bank of England (BoE) interest rate hike. A move to 1% interest rates was met with six voting members who wanted 1.25%. The BoE also had dire forecasts for growth and energy bills with households set to feel the squeeze once more.
The GBP v EUR crashed through the previous 1.1800 support level and may head lower in the weeks ahead.
Bank of England shocks markets with recession warnings
The Bank...
