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Pound to Euro Rate Jumps on President Trump Win, USD Rallies, EUR Pressured

6 Nov 2024 at 10 AM - Written by Frank Davies

STORY LINK Pound to Euro Rate Jumps on President Trump Win, USD Rallies, EUR Pressured

US Ddollar gains to some extent. The Pound to Dollar (GBP/USD) exchange rate dipped to just below 1.2850 before regaining the 1.2900 level. The Euro has been hit harder than the Pound due to fears over a more aggressive trade policy and damage to the Euro-Zone economy. In this context, the Pound to Euro (GBP/EUR) exchange rate has strengthened to 1.2000. According to ING; “Given the UK economy’s smaller exposure...

CATEGORIES: Pound Euro Forecasts

Pound Sterling Braced for Huge Overnight Swings on US Election Result

6 Nov 2024 at 7 AM - Written by David Woodsmith

STORY LINK Pound Sterling Braced for Huge Overnight Swings on US Election Result

Currency markets are relatively calm on Tuesday as traders await the US election results, but there are expectations of high volatility once results start to be projected. The Federal Reserve and Bank of England (BoE) interest rate decisions will also be important background influences. The dollar has drifted lower, but the Pound to Dollar (GBP/USD) exchange rate has not been able to challenge 1.3000 again and settled...

CATEGORIES: Pound Dollar Forecasts

Pound US Dollar Exchange Rate Edges Higher following UK PMI data

6 Nov 2024 at 7 AM - Written by John Cameron

STORY LINK Pound US Dollar Exchange Rate Edges Higher following UK PMI data

The Pound US Dollar exchange rate gained ground on Tuesday following the publication of the UK’s latest PMI data. At the time of writing, GBP/USD was trading at approximately $1.2985, up roughly 0.2% from the start of Tuesday’s session. The Pound (GBP) rose against most currencies on Tuesday, bolstered by a better-than-expected domestic PMI report in the morning. The final October index slipped from 52.4 to 52,...

CATEGORIES: Pound Dollar Forecasts

Pound Euro Exchange Rate Flat ahead of BoE Decision and US Election Results

6 Nov 2024 at 7 AM - Written by John Cameron

STORY LINK Pound Euro Exchange Rate Flat ahead of BoE Decision and US Election Results

The Pound Euro (GBP/EUR) exchange rate traded sideways on Tuesday as markets looked ahead to incoming high-impact events. At the time of writing, GBP/EUR traded at €1.1918, virtually unchanged from the start of the session. The British Pound (GBP) was uncertain on Tuesday as investors held back on bold moves in anticipation of the Bank of England's (BoE) interest rate decision, scheduled for Thursday. A minor upward...

CATEGORIES: Pound Euro Forecasts

Dollar Dips as Trump Trades Scaled Back, Big Week for Pound

4 Nov 2024 at 5 PM - Written by Tim Boyer

STORY LINK Dollar Dips as Trump Trades Scaled Back, Big Week for Pound

This will be a hugely important week for all asset classes, including the Pound, with the US election, Federal Reserve meeting and Bank of England (BoE) rate call. There is still a high degree of uncertainty over the US elections with markets remaining in a state of flux over the Presidential and Congressional outcomes, when the result might be declared and the market reaction. According to Rabobank; “One way or...

CATEGORIES: Pound Dollar Forecasts

Pound to Euro Rate Forecast: GBP/EUR Dented following Eurozone PMI

4 Nov 2024 at 5 PM - Written by John Cameron

STORY LINK Pound to Euro Rate Forecast: GBP/EUR Dented following Eurozone PMI

The Pound Euro (GBP/EUR) exchange rate lost ground on Monday following the publication of the Eurozone’s latest PMI data At the time of writing, the GBP/EUR was trading at around €1.1892, down roughly 0.2% from Monday’s opening levels. The Euro (EUR) managed to achieve moderate gains against most currencies on Monday, buoyed in part by the Eurozone's recent manufacturing PMI data. Although October's final index...

CATEGORIES: Pound Euro Forecasts

Pound US Dollar Exchange Rate Rises amid US Election Jitters

4 Nov 2024 at 5 PM - Written by John Cameron

STORY LINK Pound US Dollar Exchange Rate Rises amid US Election Jitters

The Pound to US Dollar (GBP/USD) exchange rate got off to a positive start this week as USD investors turned cautious ahead of the US presidential election. At the time of writing, GBP/USD was trading around $1.2962, up approximately 0.3% from Monday’s opening levels. The US Dollar (USD) softened on Monday, with USD investors appearing increasingly anxious as the US presidential election approached. Much of...

CATEGORIES: Pound Dollar Forecasts

Pound to Euro Week Ahead Forecast: Debt Fears Unsettle Sterling

3 Nov 2024 at 10 AM - Written by Frank Davies

STORY LINK Pound to Euro Week Ahead Forecast: Debt Fears Unsettle Sterling

The Pound to Euro (GBP/EUR) exchange rate dipped sharply to 6-week lows below 1.1850 after the UK budget before a recovery to near 1.1950. The Euro was also boosted by a scaling back of aggressive ECB rate cut expectations. Goldman Sachs expects a medium-term advance to 1.22. MUFG is more cautious over the longer-term and, after near-term gains to 1.2050, it expects a gradual GBP/EUR retreat to 1.1765 by the third...

CATEGORIES: Pound Euro Forecasts

Pound to Dollar Week Ahead Forecast: Washington and London Drama

3 Nov 2024 at 10 AM - Written by Frank Davies

STORY LINK Pound to Dollar Week Ahead Forecast: Washington and London Drama

UBS expects the Pound to Dollar (GBP/USD) exchange rate to strengthen to 1.38 by June 2025. During the week, GBP/USD dipped to 10-week lows just below 1.2850 following the UK budget before a recovery to 1.2960. Markets expect a Trump victory would provide initial dollar support with a softer tone in Harris wins. Chancellor Reeves announced a £40bn tax-raising package in the budget. Spending levels were also...

CATEGORIES: Pound Dollar Forecasts

Pound Sterling Slides to 2-Week Lows vs Euro on ECB Re-Think

3 Nov 2024 at 10 AM - Written by David Woodsmith

STORY LINK Pound Sterling Slides to 2-Week Lows vs Euro on ECB Re-Think

The Pound to Euro (GBP/EUR) exchange rate was subjected to very choppy trading following the budget and dipped to 2-week lows near 1.1935. Following the latest Euro-Zone data and UK budget, expectations of ECB and Bank of England (BoE) interest rate cuts have both been scaled back. Markets still expect a BoE rate cut in November, but expectations of another cut in December have faded. This shift in expectations would...

CATEGORIES: Pound Euro Forecasts

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