Currency News: UK daily forex news and forecasts

The Pound US Dollar (GBP/USD) exchange rate climbed on Wednesday as the US Dollar came under renewed pressure following softer-than-expected inflation figures. At the time of writing, GBP/USD was trading at around $1.3281, up roughly 0.4% from Wednesday’s opening levels. The US Dollar (USD) faced heavy selling pressure on Wednesday after the latest core PCE price index pointed to a weaker inflationary backdrop than...

The Pound to Euro (GBP/EUR) exchange rate edged higher on Wednesday as the latest revision to UK economic growth offered fresh support for Sterling. At the time of writing, the GBP/EUR exchange rate was trading at around €1.1690, up roughly 0.2% from the start of Wednesday’s session. The Pound (GBP) found renewed demand on Wednesday after revised figures from the Office for National Statistics (ONS) showed the UK...

The Pound Euro (GBP/EUR) exchange rate managed a modest rise on Tuesday amid disappointing Eurozone data, although the absence of fresh UK data kept gains in check. At the time of writing, GBP/EUR was trading at €1.1663, marking a marginal increase on the day. The Pound (GBP) traded without a clear sense of direction on Tuesday, with a quiet UK economic calendar offering little in the way of fresh impetus for...

The Pound US Dollar (GBP/USD) exchange rate slipped lower on Tuesday as a subdued market mood continued to favour safe-haven currencies. At the time of writing, GBP/USD was trading at around $1.3227, down approximately 0.2% from Tuesday’s opening levels. The US Dollar (USD) edged higher on Tuesday as persistent strength in energy prices encouraged investors to favour defensive assets. Brent crude continued to trade...

The Pound to Euro exchange rate (GBP/EUR) has climbed back above 1.1650 as elevated UK yields and fresh assurances over fiscal discipline provided Sterling with support. Markets continue to price a high probability of a November Bank of England rate hike, although concerns remain that the combination of expensive borrowing, elevated energy costs and weaker growth will become increasingly difficult for the UK economy to...

The Pound to Dollar exchange rate (GBP/USD) has recovered towards 1.3270 after finding support close to 12-week lows around 1.3200, but Sterling remains vulnerable as markets wait for the next move in global bond and energy markets. US yields and expectations of substantial further Federal Reserve tightening continue to favour the Dollar, although the recent rally in the US currency is showing signs of losing...

The Pound US Dollar (GBP/USD) exchange rate gained ground on Monday as UK diesel prices reached a record high, strengthening expectations of higher Bank of England (BoE) interest rates. However, the pair’s advance remained limited. At the time of writing, GBP/USD was trading at $1.3265 after briefly climbing to a five-day high. The Pound (GBP) strengthened on Monday after UK diesel prices climbed to a new record,...

The Pound to Euro (GBP/EUR) exchange rate opened the week on the front foot, with Sterling finding support as expectations for another Bank of England (BoE) interest rate increase continued to build. At the time of writing, the GBP/EUR exchange rate was trading at around €1.1661, representing a gain of roughly 0.3% from Monday’s opening levels. The Pound (GBP) moved higher against most major currencies on Monday as...

The Euro to Dollar exchange rate (EUR/USD) has fallen to 12-week lows near 1.1350 as surging US Treasury yields and expectations of further Federal Reserve tightening reinforce Dollar demand. With the 10-year yield above 5.20% and markets increasingly pricing two more Fed hikes this year, the immediate balance of risks remains tilted towards further Euro losses. EUR/USD Forecasts: Bonds Dominate Nordea forecasts that...

The Pound to Dollar exchange rate (GBP/USD) has fallen to 12-week lows near 1.3200 as aggressive Federal Reserve tightening expectations strengthen the Dollar while fiscal concerns undermine Sterling. The Bank of England is also coming under increasing pressure to raise rates as elevated energy prices persist, but doubts over how much tightening the UK economy can withstand leave the Pound facing an increasingly difficult...