Currency News: UK daily forex news and forecasts

The US Dollar has made some headway on Friday with gains against the Euro and across all other majors amid hopes that the US Administration is backing away from the more destabilising policy stance. According to Scotiabank; “Technicals remain bullish given the clear sequence of higher lows and higher highs. The near-term range is roughly bound between support in the upper 1.12s and resistance around 1.1550.” ING...

The Pound to Dollar rate found support below 1.3300 on Friday and traded around 1.3320. UK equities were able to make further gains, potentially advancing for the 10th successive session which would be the strongest run for over five years. Scotiabank commented on GBP/USD; “the trend remains bullish, given the sequence of higher lows and higher highs. The RSI is softening but still in bullish territory. Near-term price...

Some recently released exchange rate forecasts suggest that both the Pound Sterling (GBP) and Euro (EUR) are positioned for further gains against the US Dollar (USD). Major banks such as Danske and Scotiabank have significantly revised their currency forecasts, indicating bullish prospects for EUR/USD and GBP/USD over the next year. However, some caution remains regarding the extent of the Euro's recent appreciation, with...

The Pound to Euro exchange rate hit a 2-week peak just above the key level of 1.1730 on Friday before settling around 1.1725 with a firm underlying tone. Equity markets again helped underpin the Pound Sterling on the day. The FTSE 100 has already risen for the last nine trading sessions as trade war tensions have cooled, the longest run since December 2019. According to ING; “EUR/GBP breaking under 0.8520/25 could lead...

The Pound-to- Dollar exchange rate (GBP/USD) firmed on Thursday as Donald Trump’s latest remarks on American tariffs pressured the US Dollar (USD). The US Dollar came under pressure on Thursday as investors digested a shift in tone from President Donald Trump on international trade policy. Earlier in the week, markets had responded positively to Trump’s suggestion that tariffs on Chinese imports could be...

The Pound-to-Euro exchange rate dipped on Thursday following the publication of some economic data from both within the Eurozone and the UK. At the time of writing, the GBP/EUR rate was trading at around €1.1687, down roughly 0.2% from Thursday’s opening levels. On Thursday, the Euro (EUR) strengthened against most of its counterparts following the release of Germany’s latest Ifo business climate index. The...

The Pound to Dollar exchange rate (GBP/USD) again found support close to 1.3250 and traded close to 1.3300 in Europe on Wednesday as the dollar retreated from Wednesday’s highs. Volatility has eased to some extent, but underlying stresses remain substantial with choppy trading. According to Scotiabank; “We look to near-term support between 1.3220 and 1.3250 and resistance between 1.3400 and 1.3420.” MUFG is...

After finding support above 1.1300, the Euro to Dollar exchange rate (EUR/USD) posted strong gains to just below 1.14 on Thursday before settling just above 1.1350 as the dollar’s recovery from 3-year lows ran out of steam and better than expected data helped protect the Euro. Scotiabank commented on the short-term outlook; “EURUSD remains in an uptrend, with a clear sequence of higher lows and higher highs. Recent...

The Pound to Euro (GBP/EUR) exchange rate failed to hold 1-week highs at 1.1720 on Thursday and retreated to 1.1670. GBP/EUR moves have tended to be dominated by risk conditions and equity markets with the Pound advance curbed by weaker equities on Thursday. The pair is likely to hit further resistance in the 1.1725-1.1730 area HSBC sees downside GBP/EUR risks on these grounds; “GBP/EUR underperformance likely, as...

The Pound to Dollar exchange rate traded sideways on Wednesday as both the UK and US released their latest preliminary PMI releases. At the time of writing, GBP/USD was trading at approximately $1.32958. On Wednesday, the US Dollar (USD) faced challenges and declined against multiple major currencies following the release of the latest S&P Global PMI data for the US. The preliminary figures for April revealed a...