Currency News: UK daily forex news and forecasts

The Pound vs Euro (GBP/EUR) and Pound to Dollar (GBP/USD) exchange rates dipped in immediate reaction to Thursday’s Bank of England (BoE) rate cut before rallying on Friday. Domestic data has provided an element of support for the Pound, and markets also took note of comments from BoE Governor Bailey that not too much should be read into the latest vote split. Markets overall were slightly less confident that there...

Pound Sterling traded lower against the Euro and US Dollar into the Bank of England (BoE) decision, not helped by a weaker-than-expected reading for the construction PMI index. Sterling dipped sharply following the BoE cut to 4.50% with markets considering that there is scope for more rate cuts this year. Markets are now pricing in around a 20% chance of a further cut in March. Domestic and global factors will be crucial...

The Pound US Dollar exchange rate plunged on Thursday following the Bank of England’s (BoE) latest interest rate decision. At the time of writing, GBP/USD was trading at approximately $1.2411, up roughly 0.4% from the start of Thursday’s session. Pound (GBP) Tanks as BoE Cut Rates On Thursday, the Pound (GBP) weakened against most other currencies after the Bank of England's latest interest rate decision. As...

The Pound Sterling lost ground against the Euro on Thursday following the Bank of England’s (BoE) latest interest rate decision. At the time of writing, the Pound Euro (GBP/EUR) exchange rate was trading at around €1.1954, down roughly 0.5% from Thursday’s opening levels. The Pound (GBP) fell against most of its counterparts on Thursday following the Bank of England's latest interest rate decision. The central...

Traders have continued to welcome the postponement of tariffs on Mexico and Canada while the US-China tensions have not disrupted markets at this stage. US yields have declined, and significant dollar losses have occurred. In this environment, the Pound to Dollar (GBP/USD) exchange rate has strengthened to 4-week highs at 1.2530 before settling around 1.2515. Scotiabank commented, “Sterling’s technical position...

The Pound US Dollar exchange rate firmed on Wednesday following the release of the US’s latest ADP employment change. At the time of writing, GBP/USD was trading at approximately $1.2532, up roughly 0.4% from the start of Wednesday’s session. On Wednesday, the US Dollar (USD) lost ground against most of its counterparts following the release of the latest ADP employment report for January. The data revealed that...

The Pound Sterling traded mostly flat against the Euro on Wednesday following the release of the Eurozone’s latest produce price index (PPI). At the time of writing, the Pound Euro (GBP/EUR) exchange rate was trading at around €1.2023, virtually unchanged from Wednesday’s opening levels. On Wednesday, the Euro (EUR) held its ground against most of its counterparts following the release of the Eurozone's latest...

Risk appetite rebounded strongly during Monday’s New York session as the immediate threat of US tariffs on Mexico and Canada was withdrawn. This positive impact on risk was offset in Asia as the additional 10% tariffs on Chinese exports to the US went into effect with markets also expecting action against the EU. The Pound overall held firm amid hopes that it could avoid direct trade action from the US. The Pound to...

Pound Sterling traded without a clear direction against the Euro on Tuesday amid an absence of data releases from both the UK and the Eurozone. At the time of writing, the GBP/EUR was trading at around €1.2012, marginally lower from Wednesday’s opening levels. On Tuesday, the Pound (GBP) had a tough time capturing investor interest, largely because there was no new UK economic data to drive its performance. This...

The Pound Dollar (GBP/USD) exchange rate edged higher on Tuesday as uncertainty surrounding Donald Trump’s shifting tariff policies rattled markets. At the time of writing, GBP/USD was trading around $1.2497, 0.17% higher on the day's open. The US Dollar (USD) remained highly reactive on Tuesday, continuing the turbulence seen at the start of the week as investors struggled to make sense of the latest trade...