Month: April 2018

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Pound Exchange Rate Forecast: GBP/USD at Seven-Week Low After UK GDP
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Pound Exchange Rate Forecast: GBP/USD at Seven-Week Low After UK GDP

The Pound tumbled dramatically on Friday morning, reaching seven-week lows against the US Dollar (GBP/USD) after UK Gross Domestic Product (GDP) growth readings showed a substantial decline. The latest ecostat showed growth of only +0.1% in the first quarter; economists had been more upbeat, forecasting GDP growth to come in at +0.3%. However, despite the...

Exchange Rate Forecast: GBP/EUR, GBP/USD, GBP/TRY, GBP/AUD; UK Growth Drops
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Exchange Rate Forecast: GBP/EUR, GBP/USD, GBP/TRY, GBP/AUD; UK Growth Drops

The Pound dropped against the Euro (GBP/EUR), US Dollar (GBP/USD), Australian Dollar (GBP/AUD) and Turkish Lira (GBP/TRY) on Friday after UK Gross Domestic Product (GDP) data yielded the weakest reading since 2012. Disappointingly, the UK GDP growth number came in at +0.1% in the first quarter, despite economists forecasting 0.3%. The figure relieves some of...

Pound Slips Against US Dollar (GBP/USD), Sterling to Euro/Japanese Yen in Tight Range
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Pound Slips Against US Dollar (GBP/USD), Sterling to Euro/Japanese Yen in Tight Range

The Pound has begun Wednesday morning on the back foot against the US Dollar (GBP/USD) while remaining in a tight range against both the Euro (GBP/EUR) and Japanese Yen (GBP/JPY) exchange rates. Japenese Activity Rebounds, will GDP Follow? In Japan, the latest All Industry Activity Index came in just below forecasts at +0.4%. Despite not...

Pound to Euro/US Dollar/Australian Dollar Exchange Rates in Tight Range; US Confidence Rises
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Pound to Euro/US Dollar/Australian Dollar Exchange Rates in Tight Range; US Confidence Rises

The Pound has been trending in a tight range against the Euro (GBP/EUR), US Dollar (GBP/USD) and Australian Dollar (GBP/AUD) on Tuesday after tumbling lower in recent sessions from the highest levels seen since the Brexit referendum. Sterling dropped at the end of last week when Bank of England (BoE) Governor Mark Carney quashed hopes...

GBP/ZAR Falls on Ramaphosa’s Investment Bid and UK Wages, CHF Approaches 1.20
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GBP/ZAR Falls on Ramaphosa’s Investment Bid and UK Wages, CHF Approaches 1.20

Sterling’s luck seemed to run out as Tuesday’s European session continued, with the Pound falling against a host of other majors, including the South African Rand (GBP/ZAR). The British currency still managed to maintain some gains against the Swiss Franc (GBP/CHF).  The emerging market Rand has come under pressure of late, conceding ground to currencies such...

GBP/NZD Climbs ahead of New Zealand Inflation, GBP/AUD in Tight Range Before Labour Data
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GBP/NZD Climbs ahead of New Zealand Inflation, GBP/AUD in Tight Range Before Labour Data

The Pound advanced against the New Zealand Dollar (GBP/NZD) on Tuesday while remained in a tight range against the Kiwi’s close counterpart, the Australian Dollar (GBP/AUD). Sterling’s strength has been continuing on the back of hopes of UK interest rate rises and data appearing in markets today showing the UK Unemployment rate his hit a...

Pound (GBP) Hits Highest Level Since Brexit Referendum
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Pound (GBP) Hits Highest Level Since Brexit Referendum

The Pound has been on a roll of late, climbing higher against other currency majors including the Euro (GBP/EUR) and US Dollar (GBP/USD). Today, the Pound Dollar exchange rate has hit its highest level since the Brexit referendum, coming in at Interbank highs of 1.4376. Sterling has also been closing in on the 1.16 level...

US Dollar (USD) and Russian Rouble (RUB) Exchange Rates Fall, Pound (GBP) Above 1.43
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US Dollar (USD) and Russian Rouble (RUB) Exchange Rates Fall, Pound (GBP) Above 1.43

The US Dollar and Russian Rouble both declined in Monday’s European session while the Pound rallied, continuing its two-week winning streak against the Greenback (GBP/USD) and cracking through the key psychological barrier of 1.43.  US Dollar (USD) Exchange Rate Sensitive to Developments The US Dollar wasn’t offered any support last week when the US chose...