Currency News: UK daily forex news and forecasts

A narrower-than-expected Bank of England (BoE) vote in favour of holding interest rates at 4.75%, triggered a Pound sell-off on Thursday. The Pound was also undermined overnight by wider dollar gains. A hawkish Fed statement had help cut market expectations of a February BoE cut to below 50%, but this was reversed after the BoE statement. The Pound to Dollar exchange rate (GBP/USD) dipped to 1.2600 from earlier highs...

The Pound to Dollar exchange rate (GBP/USD) edged higher on Thursday following the publication of the Bank of England’s (BoE) December interest rate decision and the US’s latest GDP data and initial jobless claims survey. On Thursday, the Pound (GBP) lost ground against most of its major trading partners following the publication of the Bank of England's latest interest rate decision. As expected, the central bank...

The Pound Euro exchange rate (GBP/EUR) edged lower on Thursday following the Bank of England’s (BoE) December interest rate decision. On Thursday, the Pound (GBP) lost ground against most of its major trading partners following the Bank of England's latest interest rate announcement. As expected, the central bank kept interest rates unchanged at 4.75%. However, the decision was not as unanimous as anticipated,...

The Pound Sterling (GBP) drifted lower against the Euro (EUR) nd U.S. Dollar (USD) after the latest UK inflation data. Although very close to expectations, markets were slightly more optimistic that there would be scope for more than two rate cuts next year. There are also expectations that the Federal Reserve will accompany a US rate cut later in the day with cautious guidance over the potential for further cuts early next...

The Pound Euro (GBP/EUR) exchange rate was mostly muted on Wednesday following the release of the UK’s and the Eurozone’s latest inflation readings. On Wednesday, the Pound (GBP) held steady following the release of the UK's latest consumer price index (CPI) figures. The headline inflation rate for November ticked up from 2.3% to 2.6%, and core inflation saw a similar rise, moving from 3.3% to 3.5%. Although these...

The Pound to US Dollar (GBP/USD) exchange rate slipped on Wednesday as investors adopted a cautious stance ahead of the Federal Reserve’s final policy meeting of the year. The US Dollar (USD) edged higher on Wednesday as attention turned to the Federal Reserve’s impending interest rate decision. While the Fed is widely expected to cut rates by 25 basis points at its December meeting, investors are more focused on...

Stronger-than-expected UK wages triggered a jump in the Pound on Tuesday while another weaker German data release undermined the Euro. The Pound to Euro (GBP/EUR) exchange rate jumped back above the 1.2100 level from 1.2065. The latest UK inflation data on Wednesday will cause further Pound volatility. The Pound to Dollar (GBP/USD) exchange rate challenged 1.2700, but was hampered by wider dollar strength in global...

The Pound US Dollar exchange rate was largely subdued on Tuesday following the release of some better-than-expected economic data from both the UK and the US. On Tuesday, the Pound (GBP) gained ground against many of its major trading partners following the release of the UK's latest employment figures. The unemployment rate for the three months ending in October stayed at 4.3%, matching what the market had...

The Pound Euro (GBP/EUR) exchange rate drifted higher on Tuesday following the release of the UK’s latest jobs data. On Tuesday, the Pound (GBP) saw gains against most of its major counterparts following the release of the UK's latest employment figures. The unemployment rate for the three months to October matched market expectations, holding steady at 4.3%. Notably, the average earnings index (excluding bonuses)...

The Pound to Dollar exchange rate (GBP/USD) gained momentum on Monday following the release of UK’s and US’s preliminary PMI data for December. On Monday, the Pound (GBP) edged higher against most of its major trading partners after the release of the UK's preliminary PMI data for December. The report showed that the UK's manufacturing index continued to decline, falling from 48.0 to 47.3, which was below the...