GBP USD Rate Choppy Amid Omicron Developments

Pound to us Dollar Exchange Rate Hits 4 Month High

Pound to us Dollar exchange rates have hit a 4 month high against the Dollar in trading this week, as investors and speculators steer clear from the greenback due to coronavirus and political fears. The virus really has taken hold of various States in the U.S and there are vast concerns that the current package for those out of work, costing $2.4 Trillion which is due to run out at the end of this month may not be replaced, which would be extremely negative for...
GBP EUR Lower After ECB Monetary Policy Minutes

Pound to Euro Consolidates Above 1.12 Despite Increased Fear of No Deal Brexit

Pound to euro rose to a 10-week high on Thursday touching 1.1278 before consolidating just above 1.12 to end the week. The pound to euro exchange rate had rallied following a boost in market confidence which saw a weakening US dollar with the pound as one of the main beneficiaries. At the same time pound to US dollar rose to 1.3473, a 9-month high before drifting back just below 1.33. Bank of England officials have warned of sluggish growth and Governor Andrew Bailey confirmed that...
GBP EUR Surges to New Yearly Highs Ahead of Budget

GBP EUR Lower After GDP Figures Disappoint

The GBP EUR exchange rate was slightly lower after GDP figures disappointed. Traders expected a reading of 1.5% for the quarter to September but the actual result was 1.2%. I noted recently the Bank of England had lowered its forecast for growth at last week’s meeting and that would buffer prices. The GBP to EUR trades at 1.1670 after an attempt to take the 1.1700 level earlier in the day. UK economy closer to pre-pandemic output level The UK economy is close to recovering its pre=pandemic levels...
GBP USD Exchange Rate: The Week Ahead November 08th

Pound to Dollar Forecast: GBP to USD Rate Shackled by Renewed Fears of No-Deal...

Fresh No-Deal Brexit Concerns Weigh on Pound The pound to US dollar rate began the week above the 1.30 level, before falling to 1.29 on the back of fresh fears of a no-deal Brexit. Normally Christmas is a time for giving, but with no economic data under the tree and Parliament on recess, Brexit concerns dominated sentiment towards the pound this week. Consequently, any hopes of clarity over the UK’s future relationship with the EU are on hold until MPs return to work a week...
GBP USD Plummets to Lowest Level of 2021

GBP USD Plummets to Lowest Level of 2021

The pound sunk to its lowest level this year against the dollar after the UK economy grew at a slower pace than expected in the third quarter. The UK currency fell below the 1.34 support level for the first time since December 2020, when fears of a no-deal Brexit spooked investors. Data released by the Office for National Statistics (ONS) on Thursday showed the UK economy grew 1.3% in the third quarter, falling short of economists’ forecasts of 1.5%. It also represented a striking slowdown from...
GBP USD Rate Consolidates on Interest Rate Expectations

The pound set to make it a hattrick of daily gains versus the dominant...

Last week the pound suffered one of its worst single days of trading against USD; the pound started the day on 18th March above 1.21 before ending the session at 1.1440 recording a 35 year low for the British currency. Only 10 days earlier the pound reached a high of 1.3190 vs USD, before the increased level of fear in the financial market caused by the growing fast spread of the COVID-19 virus. During this time, we have seen the number of confirmed cases...
GBP EUR Higher as German Inflation Hits 5%

GBP EUR Higher as German Inflation Hits 5%

The GBP EUR exchange rate was higher by 0.40% on Monday, erasing much of Friday’s variant panic selling. German inflation was shown at 5% on Monday with analysts expecting a reading of 4.5%. The number would be a headache for the ECB, but traders will be looking ahead to the deflationary effects of a lockdown. The GBP EUR was trading at 1.1825 which was the August high and will be initial resistance. ECB sees November as the inflation peak, Germany at 5% Commenting on the European inflation...
Pound to Euro – Sterling Rises on Reduced Chances of Negative Rates

Pound to Euro – Sterling Rises on Reduced Chances of Negative Rates

The pound has risen against many of its peers this week as Governor Bailey of the Bank of England indicated there were ‘a lot of issues’ around the prospect of negative interest rates. Such a move has been loosely priced into the value of sterling since despite a Brexit deal removing the uncertainty of a disorderly no-deal relationship with the EU, the new lockdown which came into force last week will have sapped economic confidence and growth. The UK economy could now be in store for...
Pound to Australian Dollar Forecast: RBA Meeting Minutes Predict a Bleak Future Ahead

Economists Predict a Break for AUD Whilst GBP Softens After Hectic Year

News for the upcoming week is suggesting that the Australian Dollar is primed for a break to a fresh 22-week high, but this momentum has been slowed mainly due to the fading liquidity. The uncertainties surrounding interest rates for AUD in 2020 are still present and causing concern for some investors. Meanwhile, for GBP, it has seen a softening after a rollercoaster year that has been dominated by the Brexit news and the General Election. With the GE over and an EU withdrawal plan...
GBP AUD at Risk of Further Losses Ahead of Data

GBP AUD Higher Despite Disappointing GDP Figures

The GBP AUD exchange rate was higher despite disappointing GDP figures for the UK in the latest quarter. Traders were looking for reading of 1.5% for the quarter to September but the actual result was 1.2%. I noted recently the Bank of England had lowered its forecast for growth at last week’s meeting and that would buffer prices. Australian unemployment was 0.4% percentage worse off than expected. The GBP to AUD trades at 1.18320 but the Aussie could still find further strength. UK economy closer to...