Archived Daily FX News from the Money Transfer News Team...
Pound Euro Exchange Rate Rises as Eurozone Wage Growth Falls Below Forecasts
Published: 17 Jun at 5 PM
The Pound Euro exchange rate rose today despite the latest Eurozone inflation gauge for May confirming forecasts and rising by 0.2%. The pairing is currently trading around €1.16.
Analysts at Reuters commented:
‘A sharp spike in energy prices and more expensive services boosted euro zone consumer inflation in May as expected …...
Pound Euro Exchange Rate Steady Ahead of ECB Rate Decision
Published: 10 Jun at 12 PM
The Pound Euro exchange rate held steady today ahead of the European Central Bank’s (ECB) interest rate decision, which is expected to remain at 0%. The pairing is currently trading around €1.15.
The Euro failed to gain on the Pound (GBP) with Eurozone markets speculating over whether the ECB will dial back its Pandemic Emergency...
Australian Dollar to US Dollar Exchange Rate Rebounds from Post-January Worst
Published: 20 Jun at 1 PM
The Australian Dollar outlook has become continuously more bearish in recent weeks, but the Australian Dollar to US Dollar (AUD/USD) exchange rate has seen a strong rebound in demand this week as investors digest the latest major Central Bank developments.
After opening this week at the level of 0.6873, AUD/USD briefly slumped and touched...
Rising UK Factory Orders Push Pound Sterling to US Dollar Exchange Rate (GBP/USD) Up 0.3%.
Published: 20 Jun at 5 PM
Pound Sterling to US Dollar (GBP/USD) Exchange Rate Rises on Strong UK Industrial Data
The Pound (GBP) has made a minor advance against the US Dollar (USD) today, thanks to better-than-expected UK industrial orders figures.
Confederation of British Industry (CBI) stats for June have shown growth during the month, from a prior -3 point...
British Pound to Euro Exchange Rate Slips as UK Jobs Data Fails to Impress Economists
Published: 12 Jun at 3 PM
Investors briefly perceived Britain’s latest job market results as optimistic, but the British Pound to Euro exchange rate weakened towards the end of Tuesday’s session as investors firmed in the Euro ahead of Thursday’s anticipated European Central Bank (ECB) policy decision. The bank is expected to address the withdrawal of its...
Barnier?s Rejection of Brexit Backstop Triggers GBP/USD Exchange Rate Losses
Published: 8 Jun at 4 PM
Pound Sterling to US Dollar (GBP/USD) Exchange Rate Drops after Fresh Brexit Upset
The Pound (GBP) has fallen back against the US Dollar (USD) today, struggling in the pairing because of Brexit-related uncertainty.
The current issue is the customs union ‘backstop’, an emergency measure that would be activated if the UK fails to...
Euro to US Dollar Exchange Rate Surges to New 2017 High on Draghi Comments
Published: 27 Jun at 4 PM
The Euro to US Dollar exchange rate saw a surge in demand on Tuesday, as investors bought the shared currency up in reaction to the latest comments from European Central Bank (ECB) President Mario Draghi. EUR/USD gains were limited by impressive US consumer confidence however.
EUR/USD began this week trading at the level of 1.1190. After...
EUR USD Exchange Rate Forecast to Return to Downtrend on Dovish Draghi Comments
Published: 26 Jun at 5 PM
The poor run of US data continued at the start of the week, with May’s durable goods orders contracting far more sharply on the month than forecast.
This offered a fresh boost to the Euro US Dollar exchange rate, throwing the likely timing of the next Federal Reserve interest rate hike further into doubt.
Orders contracted -1.1% on...
NZD to GBP Exchange Rate Rallies as RBNZ Holds Fire on Interest Rate Hike
Published: 22 Jun at 4 PM
The Reserve Bank of New Zealand (RBNZ) has caused the latest New Zealand Dollar appreciation. After news emerged that the RBNZ had left interest rates at 1.75%, the New Zealand Dollar spiked up against the Pound.
According to Kiwibank Chief Economist Zoe Wallis, this was because;
‘The market was expecting stronger language on the...
Pound Drops against US Dollar after Optimism from Fed Official
Published: 19 Jun at 5 PM
The Pound managed to rise to a high of 1.2810 on Monday’s trading session, but soon fell to a lower rate of 1.2751.
This mixed movement came during the first official Brexit talks between UK and EU negotiators.
The talks began almost on the anniversary of June 23rd's EU Referendum, where the UK first voted to separate from the EU. The...
Pound to Euro Exchange Rate Plunges in Reaction to UK Hung Parliament
Published: 9 Jun at 4 PM
The Pound to Euro exchange rate was edging higher earlier in the week as markets expected a big majority for the Conservative party in the UK general election. However, the election ended in a hung parliament and the Pound plummeted.
GBP/EUR quickly shed over a cent on Thursday evening and Friday morning as the results came in and the pair...
GBP CAD Exchange Rate Recovers after Election Concerns
Published: 5 Jun at 4 PM
The GBP CAD exchange rate mounted a recovery by mid-morning today as recent polls suggested that the Conservatives still enjoyed a healthy lead over Labour.
The Pound Canadian Dollar (GBP CAD) exchange rate initially tumbled this morning following the recent terror attack in London, with investors shying away from Sterling as they feared...
GBP/DKK Soars as Brexit Concerns Waned amidst Increased ?Remain? Support
Published: 23 Jun at 5 PM
Enabled by the Pound’s recent strength, the Pound Danish Krone exchange rate has skyrocketed since the start of Monday’s session.
A quelling of the rampant fears and uncertainty surrounding today’s EU referendum due to a perceived shift towards a ‘Remain’ result has afforded Stirling massive gains against the Danish Krone...
US Dollar (USD) Edges Higher Against Yen (JPY) as Markets Focus on ?Brexit? Possibility
Published: 20 Jun at 12 PM
The US Dollar to Japanese Yen (USD/JPY) exchange rate attempted recovery from last week’s bearish drops on Monday after investors flocked from the ‘safe-haven’ Yen to the British Pound, following a perceived shift towards ‘Remain’.
US Dollar (USD) Favour Remains Tepid after Last Week’s Data
While the US Dollar recovered...
?Brexit? Debate Reaches Surreal New Heights as Farage, Geldof Engage Butt Boats
Published: 16 Jun at 3 PM
The Pound to Canadian Dollar exchange rate rallied this morning.
Rising 0.30% against the ‘Loonie’, Sterling gained the upper-hand as global oil prices slipped back below $50, placing extensive downward pressure on the Canadian Dollar.
Yesterday had been a surreal day for the Pound between a brutal leaked emergency budget from...
Pound Sterling (GBP) to South African Rand (ZAR) Exchange Rate Fluctuating
Published: 9 Jun at 3 PM
The Pound Sterling to South African Rand (GBP/ZAR) exchange rate attempted to recover on Tuesday due to a so-called ‘fat finger trade’. However, Rand investors remained focused on the risky Rand ahead of Wednesday’s key South African session.
GBP/ZAR dipped to a fresh one-month-low of 21.4985 on Monday as investors reacted to the...
Generally Positive UK Data can?t Save Falling Sterling, GBP/CAD Slumps
Published: 6 Jun at 5 PM
Amidst a slew of positive market data flooding out of the UK, it seems EU referendum-related opinion polls still hold most of the influence over the Pound to Canadian Dollar exchange rate (GBP/CAD).
The Pound to Canadian Dollar exchange rate currently sits at 1.857, having depreciated by over 1% throughout the day.
Public Opinion Polls...
Euro to Swiss Franc (EUR/CHF) Exchange Rate Forecast to Soften on Safe-Haven Demand
Published: 26 Jun at 1 PM
Despite the fact that the past week has seen several unscheduled meetings to attempt to secure a deal for Greece to unlock bailout funds, there has been seemingly no progress made. The division between Greece and its creditors is widening with officials butting heads over reforms that compromise Syriza’s electoral red lines. Greece only has...
Pound Sterling to South Korean Won (GBP/KRW) Exchange Rate Forecast to Edge Higher
Published: 4 Jun at 5 PM
After the Bank of England (BoE) opted to hold the cash rate, a decision most economists predicted, the Pound advanced versus many of its peers. The appreciation can be linked to traders accepting that the BoE policymaker’s choice to remain inactive was best for the UK at this juncture. This is due, in the main, to recent slowing services...
Australian Dollar to Swedish Krona (AUD/SEK) Exchange Rate Edges Lower on Market Sentiment
Published: 3 Jun at 3 PM
The Australian Dollar has seen a few days of solid appreciation after the Reserve Bank of Australia (RBA) opted to hold rates in the face of ‘Aussie’ (AUD) overvaluation. Wednesday’s Australasian session saw the Oceanic currency continue to gain thanks to a combination of positive domestic growth data and a good result from China’s...
Pound Sterling to Thai Baht (GBP/THB) Exchange Rate Climbs after Positive UK Data
Published: 2 Jun at 3 PM
The Pound Sterling to Thai Baht (GBP/THB) exchange rate advanced by around 0.68% on Tuesday afternoon.
In response to mostly positive results from domestic data publications, the British asset strengthened versus many of its currency peers. Of particular note were Mortgage Approvals which rose to the highest level in over a year, and the...
The Pound recovers against the Euro and Dollar
Published: 27 Jun at 1 PM
The Pound recovered in yesterday’s foreign exchange markets against both the Euro and US Dollar.
In the UK, the latest GfK UK consumer confidence survey showed the most positive consumer sentiment in nine years this month further raising hopes of solid economic growth for the UK in the current second quarter of this year.
This is now...
The Pound slipped again against the Euro
Published: 26 Jun at 8 AM
The Pound continued to slip against the Euro yesterday in the foreign exchange markets after the publication of the latest retail sales figures showed a sharp slowdown in June, calming analysts expectations of a potential Bank of England rate rise this year.
The CBI Distributive Trades Survey published yesterday showed the balance of...
The Bank of England (BoE) accused of acting like an ?unreliable boyfriend?
Published: 25 Jun at 8 AM
The Pound lost ground yesterday against both the Euro and the US Dollar in the currency markets after the Bank was accused of acting like an "unreliable boyfriend" in its hints over the timing of future interest rate rises by MP Pat McFadden in the latest Treasury select committee meeting with senior BoE officials.
Pound Sterling money transfer news - GBP improves against the euro EUR
Published: 24 Jun at 10 AM
The pound started the week on the ‘front foot’ after the publication of the latest UK consumer confidence data from Lloyds Bank which showed its highest reading since it launched in November 2010.
Lloyds Bank Chief Economist Patrick Foley said positive economic news was continuing, with firm growth, more jobs and falling inflation all...
Pound falls for a third day in a row
Published: 20 Jun at 2 PM
The pound fell against the euro for a third day in a row but hit a 5 year high against the US dollar following Wednesday’s latest policy announcement from the US Federal Reserve.
In the UK, the Council of Mortgage Lenders (CML) reported yesterday that UK mortgage lending stayed flat in May following the clampdown on borrowing that was...
Pound Euro slips second day in row
Published: 19 Jun at 11 AM
The pound fell for the second day in a row against both the euro and the US dollar yesterday. On Tuesday, slightly softer than expected UK inflation data reversed the recent gains made by the pound which has seen it zoom on Monday to touch a 19 month high against the euro and a 4 and a half year high against the US dollar. UK inflation is now...
Pound Euro exchange rate slips from best money transfer rates
Published: 18 Jun at 3 PM
The pound fell from its new 19 month high against the euro after softer than expected UK inflation data was published by the Office for National Statistics (ONS).
The ONS reported that the UK consumer price index (CPI) fell sharply in May to a 1.5% year-on-year pace from the 1.8% recorded in April. This is the lowest reading since May...
Money Transfer UK - Pound exchange rates at multi-year high?s
Published: 17 Jun at 11 AM
The pound opened the trading week at a new 19 month high against the euro and over a 4 year high against the USD as the market still comes to terms with Bank of England Governor Mark Carney’s words at last week’s Mansion House about UK interest rates.
Yesterday, property website Rightmove reported that asking prices for homes in the...
The pound receives a further boost
Published: 12 Jun at 4 PM
Better than expected UK employment data gave the pound a further boost in the foreign exchange market yesterday.
The Office for National Statistics (ONS) reported that the UK unemployment rate has now fallen over the three months ended in April to a rate of 6.6%a further fall of 0.2% in a month. Even more encouragingly, the number of...
The pound reaches a 20 month high against the euro
Published: 11 Jun at 9 AM
The pound hit its highest level against the euro since November 2008 after another batch of good UK economic data was published.
The Office for National Statistics (ONS) reported that UK gross domestic product (GDP) is likely be revised up by 4.6% in September following the inclusion of such changes as research and development costs and...
The pound hits a new 18 month high against the Euro
Published: 10 Jun at 10 AM
The pound was trading yesterday at its highest level against the Euro for 18 months after the stream of good economic data out of the UK continued with a survey from industry group EEF and accountants BDO which showed that UK manufacturers are optimistic about their growth prospects over the next three months. So much so that UK manufacturers...
Money Transfer UK: Pound Euro exchange rate reaches a 19 month high against the euro
Published: 6 Jun at 9 AM
The pound briefly trade yesterday afternoon at a 19 month high after the decision by the European Central Bank (ECB) to lower the deposit rate into negative territory. As a result, the ECB becomes the first major central bank to take this policy initiative.
The ECB’s decision to cut the deposit rate by 0.1% to -0.10% comes in the...
The pound softens ahead of the latest Bank of England announcement
Published: 4 Jun at 9 AM
Ahead of Thursday’s latest policy announcement from the Bank of England, the pound softened against a number of currencies including surprisingly the euro.
In UK economic data, Markit and the Chartered Institute of Purchasing & Supply (CIPS) published their latest UK construction purchasing managers' index which showed that UK...
The pound starts the week on the rise
Published: 3 Jun at 9 AM
Ahead of the latest Bank of England policy decision due out on Thursday, the pound rose against the majority of the 16 most actively traded currencies in the market yesterday supported by a survey commissioned by the Confederation of British Industry (CBI) which showed that the pace of economic growth in the UK picked up in May to its fastest...
No stopping the US dollar
Published: 28 Jun at 11 AM
The US dollar has now risen against the majority of the 16 most actively traded currencies for 7 straight days.
The catalyst yesterday were comments from officials at the US Federal Reserve who tried to calm international investors by emphasising that the Fed’s bond purchase program will not be stopped until the economy strengthens....
Money Transfers to USA: US Dollar Exchange Rate Continues to Make Gains
Published: 27 Jun at 12 PM
The dollar continues to rally against all the major currencies, up for the sixth straight day in a row following US Federal Reserve Chairman’s Ben Bernanke’s comments at last week’s monthly policy meeting.
The markets now expect the Federal Reserve to start to wind down its bond-buying quantitative Easing programme at the end of...
A quiet start to the trading week for the pound with only scant data out.
Published: 18 Jun at 11 AM
In the UK, property website Rightmove reported that the average asking price of properties in the UK has reached a new record high, above £250,000 for the first time.
Data showed that asking prices rose by a further 1.2% in May, the sixth consecutive monthly rise of 2013 to date.
Miles Shipside, Director and Housing Market Analyst at...
The pound starts to give up its recent highs
Published: 14 Jun at 11 AM
The Pound Sterling fell heavily yesterday against all the high yielding currencies, coming off recent multi month highs in the case of the Australian dollar and multi-month highs against the New Zealand dollar and South African Rand.
The absence of any serious data out from the UK to support such a move left analysts suggesting that a...
The pound continues on the upside
Published: 13 Jun at 7 PM
The pound climbed to a 4 month high against the US dollar and a 9 month high against the New Zealand dollar yesterday on the back of better than expected UK employment data.
The Office for National Statistics (ONS) reported yesterday that UK unemployment fell slightly in May with the claimant count dropping by 8,600 versus forecasts of a...
Highly Volatile Foreign Exchange Markets, Interest Rates Held
Published: 7 Jun at 10 AM
A highly volatile day in the markets yesterday highlighted by the latest monthly policy decisions from both the Bank of England and the European Central Bank.
In the UK, the Bank of England (BoE) kept interest rates at their historic low of 0.5%, a rate held in place since March 2009. The BoE also kept its asset purchasing scheme,...
The pound receives a further boost
Published: 6 Jun at 11 AM
The pound received a further boost yesterday after the publication of better than expected UK services sector data as the sector expanded at its fastest rate in more than three years.
The Markit/CIPS Purchasing Managers' Index (PMI) for services climbed from the 52.9 reading in April to 54.9 in May, its strongest reading since March 2012....
The pound reaches a 13 month high against the Aussie
Published: 5 Jun at 10 AM
Better than expected UK construction sector and retail sales data helped the pound reach its highest level against the Aussie for 13 months yesterday.
Data from Markit and the Chartered Institute of Purchasing and Supply (CIPS) showed an unexpected return to growth last months for the UK’s construction industry.
The latest index...
The pound receives a boost
Published: 4 Jun at 10 AM
Worldwide manufacturing data releases proved the highlight of yesterday’s data releases and were very much a mixed bag.
The pound benefited from better than expected data with the UK manufacturing sector purchasing managers’ index for the month of May coming in at 51.3 points, a 14-month high.
Growth in the sector was described...