Archived Daily FX News from the Money Transfer News Team...
Pound Mexican Peso (GBP/MXN) Exchange Rate Soars as Mexican Finance Minister Resigns
Published: 10 Jul at 5 PM
The Pound Mexican Peso (GBP/MXN) rose by 0.8% today and is currently trading around Mex$ 24.0719 on the interbank market.
The Mexican Peso (MXN) plummeted following the resignation of the Mexican Finance Minister Carlos Urzua.
Mr Urzua resigned with little positive to say about Mexican economic policy.
Pound Danish Krone (GBP/DKK) Exchange Rate Steadies despite Weak UK Construction Figures
Published: 2 Jul at 5 PM
The Pound Danish Krone (GBP/DKK) exchange rate fell by -0.2% today and is fluctuating around 8.3450kr on the interbank market.
Sterling (GBP) fell against the Danish Krone (DKK) following the publication of the UK construction PMI figures for June, which fell deeper into contraction from 48.6 to 43.1.
Tim Moore, an Associate Director...
Euro to US Dollar Exchange Rate Slips from Highs as Eurozone PMIs Fall Short
Published: 24 Jul at 3 PM
A combination of the latest ecostats and stronger demand for the US Dollar following its poor performance at the end of last week has caused the Euro to US Dollar (EUR/USD) exchange rate to slip. However, EUR/USD movement is likely to remain muted until major Eurozone and US news later in the week.
Last week was a highly volatile week for...
Pound Sterling to US Dollar Exchange Rate Drops -0.6% on Lower BoE Rate Hike Odds
Published: 19 Jul at 5 PM
Dwindling Hopes of August BoE Interest Rate Hike Push GBP/USD Exchange Rate Down
The Pound (GBP) has tumbled in trading against the US Dollar (USD) today, hitting the lowest exchange rate since early September last year.
This significant deterioration for the Pound is down to the latest UK retail sales data, which has shown...
Pound Sterling to New Zealand Dollar (GBP/NZD) Exchange Rate Rises on UK GDP Upgrade
Published: 10 Jul at 2 PM
Daily Pound Sterling News: GBP/NZD Exchange Rate Rises on GDP Acceleration
The Pound has shaken off Monday’s GBP/NZD exchange rate losses and risen by 0.5% against the New Zealand Dollar today, thanks to supportive UK GDP data.
The Office for National Statistics (ONS) has devised a new method of collating gross domestic product and...
AUD GBP Exchange Rate Slump Triggered by Lower Rate Hike Chances
Published: 26 Jul at 3 PM
Traders have largely abandoned the Australian Dollar today, which has led to a -0.5% slide against the Pound. This sudden drop in confidence was triggered by a speech from Reserve Bank of Australia (RBA) Governor Philip Lowe.
Speaking in Sydney, Lowe emphasised that the RBA did not feel tied to other global central banks when it came to...
US Dollar to Japanese Yen Exchange Rate Tumbles Despite Dovish Bank of Japan
Published: 21 Jul at 5 PM
The US Dollar to Japanese Yen exchange rate tumbled last week, despite an unexpectedly dovish Bank of Japan (BoJ) meeting that led to a brief Yen selloff. Low Fed rate hike bets have kept the US Dollar generally unappealing against its rival.
USD/JPY began last week trading at around 112.52. At the end of the week the pair continued to...
Pound Sterling to Swiss Franc Update: GBP CHF Exchange Rate Rises after Gold Price Slide
Published: 10 Jul at 4 PM
The Pound has made gradual gains against the Swiss Franc on July 10th, rising from an opening exchange rate of 1.2425 to 1.2449 later in the day.
This Pound strength against the Franc has largely been caused by Swiss economic deterioration, given that the latest UK news has been somewhat negative overall.
Chief among the latest issues...
Pound to Rand Exchange Rate Surges as ANC Muses Nationalising ZA Central Bank
Published: 5 Jul at 4 PM
The Pound has soared by 2% against the South African Rand today, thanks to a sharp drop in ZA economic confidence.
UK data has actually been unsupportive, with the services and composite PMIs for June showing falling economic growth.
The drops recorded were greater than expected and followed earlier declines in the UK’s manufacturing...
US Dollar New Zealand Dollar Exchange Rate Plummets on Falling Safe-Haven Appetite
Published: 12 Jul at 1 PM
The US Dollar New Zealand Dollar exchange rate began the week on an unsure footing thanks to a strong consumer confidence indicator from New Zealand in the form of a surge in electronic card transactions.
Safe-haven demand also thrived within the markets, pushing up the US Dollar while weighing heavily on the ‘Kiwi’, resulting in the...
RBA Freeze Rates, AUD NZD Exchange Rate Declines
Published: 5 Jul at 9 AM
AUD/NZD Weakens after RBA Rate Freeze Decision
The Australian Dollar softened against the New Zealand Dollar this morning after the early hours rate freeze from the Reserve Bank of Australia (RBA).
The decision by the RBA to freeze interest rates at 1.75% was widely forecast, so the markets were unsurprised by the result of the latest...
US Dollar Continues to Slip against Canadian Dollar as ?Loonie? Sentiment Strengthens
Published: 4 Jul at 1 PM
The US Dollar has continued to drop from last week’s highs against the Canadian Dollar as markets slowly returned to risky currencies following Britain’s shocking vote to leave the EU. Stable prices of oil have also helped the Canadian Dollar to maintain its levels.
US Dollar (USD) Sentiment Continues to Slip from Brexit-Inspired...
Euro to South African Rand (EUR/ZAR) Forecast to Dive on Dovish US Policy Outlook
Published: 9 Jul at 5 PM
The Euro to South African rand (EUR/ZAR) exchange rate dived by around -0.71% on Thursday afternoon.
The shared currency softened versus many of its peers during Thursday’s European session as a result of fears that the recent rally was unjustified, especially considering the many difficulties facing Europe at this time. Greece has been...
Pound Sterling to Japanese Yen (GBP/JPY) Exchange Rate Forecast to Dive on Safe-Haven Demand
Published: 8 Jul at 5 PM
The Pound sterling to Japanese Yen (GBP/JPY) exchange rate dived by over -2.0% on Wednesday.
The British Pound dived versus its major peers on Wednesday despite registering comparatively positive results in the BRC Shop Price Index and Halifax House Prices data publications. The Sterling depreciation is the result of speculation that the...
The Dollar has a strong day in the markets
Published: 31 Jul at 11 AM
The US dollar enjoyed another strong day in the foreign exchange market yesterday after data showed that the US economy grew at an annualised rate of 4% in the second quarter of this year as it bounced back strongly from the strong contraction suffered due to the inclement weather in the region in the first quarter of the year.
The Pound rises to its highest level since August 2012
Published: 18 Jul at 2 PM
The Pound rose for a second day in a row in the foreign exchange market against the Euro after the Office for National Statistics (ONS) reported another fall in UK unemployment. The ONS data shows that UK unemployment rate has fallen to 6.5%, its lowest rate since 2008.
However, the data also showed that the rate of pay growth has also...
The Pound falls on profit taking
Published: 18 Jul at 8 AM
The pound fell against the majority of the 16 most actively traded currencies in the foreign exchange market yesterday on the latest round of profit taking on an otherwise quiet news day.
The only significant data out yesterday was from the euro zone where Eurostat confirmed that the rate of inflation in the euro zone remains well below...
The Pound enjoys its strongest day for nearly two weeks
Published: 16 Jul at 9 PM
The Pound enjoyed its strongest day in the currency markets for nearly 2 weeks yesterday after the Office for National Statistics (ONS) reported that the UK inflation rate rose at a faster pace than had been anticipated and is now just below the Bank of England’s (BoE) set target of 2%.
The ONS data shows that the consumer price index...
The Pound to Euro continues to fall
Published: 15 Jul at 1 PM
The Pound fell in yesterday’s foreign exchange markets after the Office for National Statistics reported some worse than expected UK construction data in yet another sign that the UK economic recovery has lost speed in the second quarter of this year.
UK construction output unexpectedly fell by 1.1% month-on-month after rising by 1.2% in...
The Pound fell for the fourth day in a row
Published: 11 Jul at 8 AM
The Pound fell against both the Euro and the US Dollar for a 4th day in a row in the foreign exchange markets yesterday despite the Bank of England's (BoE) Monetary Policy Committee (MPC) maintaining both its base interest rate at 0.5% and the size of its asset purchase programme at £375 billion unchanged.
UK interest rates have now been...
Pound to Euro exchange rate falls for the third day in a row
Published: 10 Jul at 11 AM
For the third day in a row, the Pound fell against the Euro in the foreign exchange market yesterday after the publication of worse than expected UK economic data.
The British Retail Consortium (BRC) reported yesterday that UK retail prices fell in June by 1.8% compared to a year ago, driven by cheaper electricals, furniture and clothes....
The Pound continues to fall
Published: 9 Jul at 9 AM
The pound continues to lose ground against the majority of the 16 most actively traded currencies in the foreign exchange market yesterday.
The catalyst was worse than expected UK industrial production figures. According to the Office for National Statistics (ONS), UK industrial production fell by 0.7% in May which came as a shock as the...
The Pound gives up some of its recent gains
Published: 9 Jul at 8 AM
The Pound started the latest trading week on the back foot, giving up some of the recent gains that’s aw it reach multi-month or multi-year highs against the majority of the 16 most actively traded currencies sin the currency markets yesterday.
The catalyst was the latest data from BDO and its Optimism Sub-Index for the UK manufacturing...
The Pound to Euro exchange rate soars to a 22 month high
Published: 4 Jul at 12 PM
The value of the Pound soared in the foreign exchange markets yesterday, hitting a new 22 month high against the Euro whilst remaining close to the recently achieved 6 year high against the US Dollar and also hit its highest level against the Australian Dollar since March.
The catalyst for this latest move in the currency markets was the...
Best Money Transfers to France, Spain and Rest of Europe in 2014
Published: 3 Jul at 12 PM
The pound continued its positive start to a new trading month in the foreign exchange market yesterday and improved on the 19 month high against the Euro and the 6 year high against the US Dollar as well as having a better day against the Australian dollar when it rose to reach a 5 week high.
The catalyst for the latest rise was the...
Pound Money Transfer News - Sterling Close to 19 Month High vs Euro
Published: 2 Jul at 9 AM
The Pound traded close to the 19 month high in the foreign exchange market yesterday which was last reached on 15 June after fresh data showed that the UK manufacturing sector activity is at its second highest level in 40 months and manufacturing sector job creation is at a 39 month high.
Commenting on today's manufacturing PMI numbers,...
Pound hits new Dollar high at quarter end
Published: 1 Jul at 10 AM
The second quarter of 2014 finished with the Pound its highest level against the US Dollar since October 2008 on another day of mixed economic data.
The GfK UK consumer confidence index showed that UK consumers are at their most optimistic since March 2005 in their latest survey, raising hopes for further solid economic growth in the UK...
The pound reaches a 3 year high against the Australian dollar
Published: 31 Jul at 9 AM
The pound opened yesterday morning at its best rate since August 2010 against the Australian dollar ahead of key central bank policy decisions over the next few days.
Rumours in the market that the Reserve Bank of Australia will ease policy further with a second interest rate cut this year together with a continuous stream of poor...
Calm before the next storm?
Published: 30 Jul at 10 AM
The markets began the week in a subdued mood ahead of the latest monthly policy announcements from the US Fed; Bank of England and the European Central Bank and the release of the key unemployment data from the US, all due at the end of the week.
What little economic data was released yesterday centered on the UK and was a definite step...
The pound falls despite better data
Published: 26 Jul at 9 AM
The pound fell against both the euro and the dollar yesterday despite the release of official data showing that economic growth in the UK in the three months to June was double that of the first quarter of the year. The data release from the Office of National Statistics (ONS) showed that UK Gross Domestic Growth (GDP) grew by 0.6% in the...
The euro strengthened yesterday
Published: 25 Jul at 9 AM
The euro strengthened across the board yesterday on the back of much better than expected data.
The Markit euro zone manufacturing sector purchasing managers´ index surprised on the upside with a rise from last month’s reading of 48.8 to 50.1 in July, well ahead of the consensus expectations for a gain to 49.1. In addition, the euro...
Risk sentiment driving the market
Published: 24 Jul at 10 AM
Mixed data out yesterday muddied the picture in the world markets.
In the UK, the British Chambers of Commerce (BCC) reported that UK export activity has reached its highest level since the financial crisis erupted in 2008. The BCC report shows a trade index rising to 118.12 in the three months to June 2013, up 2.9% on the same period last...
Risk appetite continues to dominate the markets
Published: 23 Jul at 11 AM
In a very quiet news day, market sentiment continues positive on the back of last week’s better than expected data from the two biggest economies in the world, the USA and China.
In the UK, data showed that UK government borrowing actually fell in the 2012-13 fiscal year with Public sector net borrowing, excluding the cost of...
The pound rises for a second day in a row
Published: 19 Jul at 10 AM
The pound rose against the majority of the sixteen most actively traded currencies in the world for a second day in a row yesterday.
On Wednesday, better than expected UK employment data and a hint by the Bank of England of the termination of its long running asset buying program, commonly known as Quantitative Easing did the...
Pound Sterling money transfers: change of tact at bank of England boosts GBP
Published: 18 Jul at 11 AM
The pound had a rare good day in the markets yesterday, supported on the release of the minutes of the Bank of England meeting from earlier this month, the first chaired buy new Governor Mark Carney and better than expected UK employment data.
In a break with the policy set over 4 years ago by previous Governor Sir Mervyn King, the minutes...
Pound Sterling continues to slide
Published: 17 Jul at 10 AM
The release yesterday of the latest UK inflation data did little to bolster the pound as it continues to lose ground against virtually all of the 16 most actively traded currencies in the market,
The Office for National Statistics (ONS) reported yesterday that the rate of consumer price index (CPI) inflation increased to 2.9% in June, up...
Risk appetite returns
Published: 16 Jul at 9 AM
The trading week started with a return to ‘risk appetite’ after data showed that Chinese gross domestic product (GDP) growth fell from 7.7% to 7.5% in the second quarter in line with expectations.
This drove the world stock markets into further positive territory with the FTSE100 index in London finishing at a 7 week high and the Dow...
The US dollar comes off its 3 year high
Published: 12 Jul at 9 AM
The US dollar remains centre-stage in the markets following the publication of the minutes of the latest Federal Reserve Open Market (FOMC) committee report.
The minutes show a divided committee and together with some dovish comments from Federal Reserve Chairman Ben Bernanke sharply reversed the fortunes of the dollar yesterday after it...
The US Dollar exchange rate eases off its 3 year high?s
Published: 11 Jul at 10 AM
Having reached a 3 year high against both the pound and the Japanese Yen on Tuesday, the US dollar eased considerably last night following more dovish than expected minutes from the last Federal Reserve policy meeting.
The minutes showed that the members of the Federal Open Market Committee (FOMC) are deeply divided on the future of the...
Best time to transfer money to USA in 3 years
Published: 10 Jul at 10 AM
The US dollar hit a three year high against the other major currencies including the pound sterling and the Japanese Yen ahead of the publication of the minutes from the last US Federal Reserve policy meeting.
With the publication of stronger than expected US employment data out last Friday, analysts are increasingly predicting that the...
The pound sterling opens the week on the ?back foot?
Published: 9 Jul at 10 AM
The pound opened the trading week on the ‘back foot’ following the dovish comments from the Bank of England’s latest policy meeting, the first under the guidance of new Governor Mark Carney last Thursday.
This, despite better than expected UK data as BDO’s Business Trends showed that business confidence in the UK reached a...
Pound Sterling & Euro Sink on Policy Statement
Published: 5 Jul at 9 AM
Having risen for three straight days on the back of better than expected UK economic data, the pound fell sharply yesterday afternoon after the latest monthly policy announcement from the Bank of England (BoE), the first under the auspices of new Governor Mark Carney.
As expected, the BoE kept both its benchmark interest rate at its...
Cheaper Money Transfers to Spain & France as Euro Under Pressure
Published: 4 Jul at 10 AM
The theme of better than expected UK economic data out this week continued yesterday with the publication of the UK purchasing managers' index (PMI) on the service sector rose from a figure of 54.9 in May to 56.9 in June.
This represents the biggest rise in economic activity in the sector in more than two years.
Chris Williamson, Markit...
The pound sterling finds some support
Published: 3 Jul at 10 AM
The pound made an effort to recover some of the losses incurred on Monday on the back of further better than expected UK economic data.
The British Chambers of Commerce (BCC) reported yesterday that UK business confidence has reached its highest level since 2007 according to their latest quarterly report.
The BCC now expects UK GDP to...
Pound exchange rate falls despite strong data
Published: 2 Jul at 10 AM
The pound fell against the majority of the 16 most actively traded currencies yesterday despite the publication of the strongest UK manufacturing activity data in over two years.
The Markit/CIPS Purchasing Managers’ Index (PMI) for the British manufacturing sector climbed to 52.5 from a revised level of 51.2 in May to reach its highest...