Currency News: UK daily forex news and forecasts

Employment data in the UK was mixed and won’t swing market bias far from where it is already. Wage growth remains a hurdle to aggressive cuts from the BoE. CPI on Wednesday could be more important in shaping policy. Tuesday’s main event came early in the session with the release of the UK employment report. Headlines will focus on the drop in unemployment from 4.1% to 4.0%, which suggests the Bank of England...

The Pound to Euro (GBP/EUR) exchange rate has continued to consolidate around 1.1950, but with the potential for substantial moves this week amid a wave of market-moving events including key UK data and an ECB policy meeting. ING expects lower UK inflation and added; “This means that EUR/GBP could hold support at 0.8350 this week and retest the recent high at 0.8435. (GBP/EUR retreat to 1.1850) Global influences will...

The Pound Euro (GBP/EUR) exchange rate wavered on Monday, despite the start of the UK’s International Investment Summit, as high-impact events later in the week loomed over the currency pairing. At the time of writing, GBP/EUR traded at €1.1949, having fluctuated in a tight range since the start of the week’s opened. The British Pound (GBP) had a mixed performance on Monday, even as the UK's International...

The Pound US Dollar exchange traded sideways on Monday as a lack of both UK and US economic data releases left the currency pairing largely flat. At the time of writing, GBP/USD was trading at approximately $1.3056, virtually unchanged from the start of Monday’s session. The US Dollar (USD) had a sluggish start to the week as a dearth of domestic economic data left the currency mostly directionless. Despite this,...

Foreign exchange strategistsd at Goldman Sachs expect the Pound to Euro exchange rate to strengthen to 1.22 (GBP/EUR) on a 12-month view. GBP/EUR settled around 1.1950 as tight ranges prevailed during the week with caution surrounding geo-political risks and the UK budget. Goldman expressed some caution on a near-term Pound view; “In the nearer-term, the outlook is still clouded, with geopolitical headwinds still...

According to Commerzbank; “we expect pronounced USD weakness, as the Fed is now delivering much sharper interest rate cuts than previously expected. We therefore think that the arguments in favour of the pound versus the US dollar should count for much more, which is why we expect to see higher levels here in the coming months.” Commerzbank does, however, expect renewed losses to 1.33 by the end of 2025 as the dollar...

The latest US data triggered fresh uncertainty over economic direction and also lead to choppy trading in currency markets. The Pound to Dollar (GBP/USD) exchange rate briefly dipped to 4-week lows at 1.3025 after the US data before a recovery to 1.3080. US consumer prices increased 0.2% for September, above consensus forecasts of 0.1% with the year-on-year inflation rate edging lower to 2.4% from 2.5%, but above...

The Pound Euro (GBP/EUR) exchange rate treaded water on Thursday amid a lack of both UK and Eurozone data releases. At the time of writing, GBP/EUR traded at around €1.1859, virtually unchanged from Thursday’s opening rate. The Euro (EUR) struggled to garner investor attention on Thursday, undermined by a surge in European Central Bank (ECB) interest rate cut bets following several dovish speeches from ECB members....

The Pound US Dollar (GBP/USD) exchange rate fluctuated within a tight range on Thursday, even after the release of minutes from the Federal Reserve's recent policy meeting. As the time of writing, GBP/USD stood at $1.3073, showing little change from the day's opening levels. The US Dollar (USD) traded somewhat cautiously on Thursday, despite the hawkish tone of the Federal Reserve's meeting minutes released the previous...

The Pound to Euro (GBP/EUR) exchange rate found support below 1.19 on Tuesday and has settled around 1.1935, just below the middle of the trading range seen over the past 20 days. Overall risk conditions will be very important in the short term with major global events in focus and the potential for high volatility across asset classes. There will be further strong GBP/EUR selling interest above 1.20. China is set to...