Archived Daily FX News from the Money Transfer News Team...
US Dollar to Rand Currency Update: USD Ticks Up despite Caustic Trump Comments
Published: 23 Aug at 4 PM
US Dollar Update: USD ZAR Rate Rises while Trump Pledges ‘Wall will be Built’
The US Dollar has advanced to an exchange rate of 13.2338 against the South African Rand today, although domestic data has only provided limited support.
On this front, US PMIs for August have shown higher overall activity for the composite reading, which...
Pound to Rand Exchange Rate Rises as Gupta Scandal Continues to Drag on ZAR
Published: 21 Aug at 4 PM
Pound to Rand Trading Accelerates after More Brexit ‘Position Papers’ Come Out
The Pound has risen by 0.5% against the South African Rand today, although this is primarily because of Rand weakness.
The only UK news to speak of has been political, focusing on the UK government’s plans for the country after Brexit.
British Pound to US Dollar Exchange Rate Struggles to Recover as ?Greenback? Strengthens
Published: 16 Aug at 3 PM
Despite a solid UK job market report coming in today, the British Pound to US Dollar exchange rate has been unable to sustain any notable recovery effort. This has largely been due to this week’s strong US retail sales stats, which came in well above expectations.
After mixed movement in recent weeks, the US Dollar surged yesterday and...
US Dollar to South African Rand Rate Up 1.1% as Zuma Remains President
Published: 9 Aug at 3 PM
US Dollar to Rand Rate Rises despite Heightened Tension about Nuclear War
In spite of the handicap of alarming political news, the US Dollar has still risen against the South African Rand today.
The main news today has been that tensions between the US and North Korea have seemingly hit an all-time high.
Responding to news that North...
British Pound to US Dollar Exchange Rate Tumbles Again on Strong US Job Data
Published: 4 Aug at 3 PM
Despite persistent US political uncertainty in recent weeks, the British Pound to US Dollar exchange rate has fallen due to Bank of England (BoE) news and a strong US Non-Farm Payroll report.
UK news and US data has caused GBP/USD volatility over the last week. The pair opened the week at the level of 1.3133 and briefly hit a 2017-high of...
Pound US Dollar Exchange Rate Dominates despite Shifting Fed Outlook
Published: 22 Aug at 5 PM
GBP on the Rise after Article 50 Scare, UK GDP and BoE Speech Out This Week
While no actual UK domestic data came out on Monday, the Pound was still able to make and sustain a strong rally against the US Dollar, the Euro and a majority of its other exchange rate peers.
This came as part of a delayed reaction to investors over Friday’s...
US Dollar Nears Lows Vs Yen as Fed Rate Hike Bets Fall
Published: 15 Aug at 2 PM
The US Dollar continued to slump against the Yen on Monday after a Friday plummet, as investors sold off the ‘Greenback’ in favour of the Yen. Nikkei stocks drifted lower after a disappointing Japanese GDP result on Monday, which also weighed slightly on the otherwise bullish Yen. USD/JPY trended in the region of 101.00 at the time of...
Euro US Dollar (EUR USD) Exchange Rate Price Action Predicted
Published: 12 Aug at 7 AM
<h2>EUR USD Exchange Rate Firmed on Reduced US Dollar Demand</h2>
Three key data sets are forecast to determine price action for the world’s leading currency pair during today’s session. By the latter part of yesterday’s European equities session, the Euro to US Dollar exchange rate was lodged in the upper part of the...
Pound to Rand Exchange Rate Collapses on Reduced Confidence in GBP
Published: 11 Aug at 4 PM
Latest Blow to Pound’s Appeal comes on Post-‘Brexit’ Housing Prices
The current week has been one of the worst in a long time for the Pound, as in addition to being repeatedly dragged down by poor economic data, overall sentiment has prevented any real gains over the five working days.
Against the South African Rand, the Pound has...
USD-GBP Exchange Rate is a Clash of the Titans as UK and US GDP Results Loom
Published: 27 Aug at 2 PM
USD Confidence Remains Middling despite Advantage against GBP
The US Dollar has seen a rapid rise against the Pound Sterling this week as in the aftermath of Monday’s stock market mayhem, but the ‘Buck’ has only risen overall against ‘stable’ competitors like the Euro and the Pound.
The US Dollar’s losses against the Pound...
Indian Rupee Holds Fast against Recovering US Dollar amid Asian Market Meltdown Today
Published: 26 Aug at 5 PM
Rising ‘Greenback’ Fails to Dent Rupee’s Stability in INR-USD, RBI’s Rajan Talks Cause and Effect
The Indian Rupee to US Dollar conversion rate has come out surprisingly well from the continuation of ‘Black Monday’ that hit the world’s stock markets for a third day running, although the road to a strong Rupee has seen a...
Surprising Positive in UK CPI Data Sends Pound Soaring Against Norwegian Krone
Published: 18 Aug at 1 PM
Hawkish Pound Dominates the Field amid UK Interest Rate Hike Speculation Frenzy
The Pound Sterling has demonstrated extremely hawkish behaviour today against all major rivals, but most of all against the Krone. Sterling peaked at 12.9863 today, although the gains seen by the Pound are likely to continue as the UK currency continues to...
Euro to Chinese Yuan (EUR/CNY) Exchange Rate Forecast to Rally on PBoC Intervention
Published: 12 Aug at 5 PM
The Euro to Chinese Yuan (EUR/CNY) exchange rate rallied considerably during Wednesday’s European session.
After Greek officials agreed to the terms of the third bailout deal with creditors and Eurozone officials, the single currency surged versus its major peers. Although the terms are yet to be agreed by Greek MPs, fears regarding the...
The Pound re-approaches its August high
Published: 31 Aug at 8 PM
The pound enjoyed a steadier day in yesterday’s foreign exchange market rising to a level against the Euro not seen since 6 August.
The Confederation of British Industry (CBI) in its latest quarterly Distributive Trades Survey reported that a combination of hot summer weather and the economic upturn seems to have enticed shoppers onto...
The Pound falls
Published: 31 Aug at 1 PM
The pound fell again as trading re-started after Monday’s Bank Holiday in the UK and traded at a 6 month low against the US Dollar and a 9 month low against the Australian Dollar.
Uncertainty over the UK political outlook seems to be weighing heavily on the Pound after Alex Salmond, the leader of the ‘Yes’ campaign for Scottish...
Money Transfer News - UK Pound Sterling makes Recovery
Published: 21 Aug at 3 PM
The Pound made a recovery of sorts in yesterday’s foreign exchange markets after the sharp falls suffered on Tuesday after the publication of the minutes of the last Bank of England (BoE) Monetary Policy Committee (MPC) meeting from the beginning of the month sprung a surprise. The minutes showed that the nine member MPC voted 7-2 in favour...
Money Transfer to USA News - Worst Pound to Dollar Exchange Rate in Four Months
Published: 20 Aug at 1 PM
The Pound Sterling traded at a new 4 month low against the US Dollar yesterday in the currency markets after the release of the latest UK inflation data.
The Office for National Statistics (ONS) reported that the UK's rate of inflation fell in July at a faster than expected pace thus reducing any pressure on the Bank of England (BoE) to...
Money Transfer News: The Pound Sterling ends the month with a whimper
Published: 1 Aug at 11 AM
The Pound ended the month of July on a disappointing note in yesterday’s foreign exchange market. Having touched earlier in the month a 22 month high against the Euro and a 6 year high against the US Dollar, it fell against both currencies and indeed, against the majority of the 16 most actively traded currencies in the market.
The pound recovers against the euro
Published: 30 Aug at 10 AM
The pound made a recovery of sorts after three solid days of falls against the euro on the back of a report from the British Chambers of Commerce (BCC) that sharply upped its 2013 growth forecast for the UK economy, saying the economy is gaining momentum.
The BCC now expects the UK economy to grow by 1.3% this year, up from its previous...
Pound Sterling Loses Ground
Published: 29 Aug at 7 PM
Yesterday, the pound gave up some of its recent gains despite better than expected data from the Confederation of British Industry’s [CBI] who reported in its distributive trades survey the strongest balance since November 2012.
The rise reflects the strongest growth rate in retail sales reported since November 2012, across a broad-based...
US dollar, Japanese Yen & Swiss Franc Exchange Rates Rise Strongly
Published: 28 Aug at 10 AM
Risk aversion has returned to dominate the markets with a vengeance with all three ‘safe-haven’ currencies, the US dollar, Japanese yen and the Swiss franc rising strongly yesterday and world stock markets going in the opposite direction as fears that the US and its allies are poised to take military action against the Syrian government...
The pound remains on the ?front-foot?
Published: 27 Aug at 11 AM
The pound closed last week buoyed by the latest data release from the Office for National Statistics (ONS) which reported that UK gross domestic product (GDP) for the second quarter of this year has been revised upwards to 0.7%, up 0.1% from the initial estimate released in July and 1.4% higher than this time last year.
The ONS said the...
No stopping the pound
Published: 23 Aug at 9 AM
In complete contrast to the wishes of the Bank of England who want to keep a lid on the value of the pound in order to stimulate exports and aid the economic recovery in the UK, the recent better than expected data out of the UK continues to bolster the pound which is now trading at either multi-month high’s (against the euro and the US...
The pound enjoys another good day
Published: 22 Aug at 9 AM
The pound enjoyed another good day in the foreign exchange market yesterday despite some mixed economic data.
The Office for National Statistics (ONS) reported that public sector net borrowing, excluding the temporary effects of financial interventions and also excluding the effects of the transfers from the Bank of England Asset Purchase...
US Dollar under pressure
Published: 21 Aug at 9 AM
The US dollar is feeling the pressure ahead of tonight’s policy announcement from the Federal Reserve, falling to a 2 month low against the pound and a six month low against the euro yesterday.
The minutes from the Fed's July meeting will hopefully shed some light on when the Federal Reserve plans to start winding up its monthly...
The pound receives another boost
Published: 20 Aug at 9 AM
The pound opened at a 7 week high against the euro and a 8 week high against the US dollar after receiving a boost from better than expected UK retail sales figures and a positive report from the Confederation of British Industry.
Figures from the British Retail Consortium (BRC) showed that retail footfall in July was boosted by the sunny...
Pound Ends Week 0.8% Stronger Against Euro And US Dollar
Published: 16 Aug at 10 AM
This week has been one of more ups than downs for Sterling.
With the UK’s economic outlook brightened by several pieces of stronger-than-anticipated news the Pound is set to record a second consecutive 5-day gain against major rivals the US Dollar and Euro.
This week UK employment, housing and retail sales reports all trumped...
Surging UK Retail Sales See Pound (GBP) Climb
Published: 15 Aug at 10 AM
With yesterday’s better-than forecast UK employment figures continuing to support the Pound, the British currency was able to begin European trading stronger against rivals including the US Dollar and Euro.
The Pound’s advance against the ‘Greenback’ was aided by the expectation that UK retail sales climbed for a third month.
Pound Fluctuations Likely As Employment Improves But BoE Fails To Unite
Published: 14 Aug at 10 AM
Over the last four weeks the Pound has strengthened by 0.9 per cent as the currency has been boosted by increasingly positive UK data and a brightening economic outlook for Britain.
The British currency was able to extend gains against several of its rivals in the wake of yesterday’s domestic inflation and housing reports, and was...
GBP/USD And GBP/EUR Movement Expected Due To US Retail Sales And Eurozone Sentiment
Published: 13 Aug at 10 AM
As the European session began the Pound was trading within touching distance of a month-high against the Euro and in the region of 1.5479 against the US Dollar.
Overnight the British currency was supported by a report showing that UK house prices climbed to an almost seven-year high last month.
According to data compiled by the Royal...
What's Driving Pound (GBP) Movement This Week?
Published: 12 Aug at 10 AM
Last week’s significantly stronger-than-anticipated UK services PMI, coupled with the Bank of England raising the UK’s growth forecast, saw the Pound put in a commendable performance against peers including the US Dollar and Euro.
The British currency was able to post a five-day gain against its most traded counterparts and began...
Pound Euro Exchange Rate Extends Gains As Pound Is Supported By Good UK News
Published: 9 Aug at 10 AM
Prior to the release of UK construction output and trade balance figures the Pound was holding steady against the Euro and US Dollar after advancing on its rivals yesterday amid improving global economic sentiment and positive UK data.
As the European session began Sterling was trading close to a seven-week high against the US Dollar and...
BoE Inflation Outlook Pushes Pound Close to 7-Week High Against US Dollar
Published: 8 Aug at 10 AM
Yesterday’s Bank of England inflation report, and unprecedented forward guidance regarding interest rate alterations, inspired notable Sterling fluctuations.
Interest rate hikes were linked to the unemployment rate for the first time, with Carney asserting that rates wouldn’t be increased until the jobless rate had at least fallen to 7...
BoE Forward Guidance Expected to Trigger Pound Volatility
Published: 7 Aug at 10 AM
Although the Pound strengthened against both the Euro and US Dollar during the European session as UK industrial production surged and house prices climbed, the British currency went on to post modest losses against the Euro as the common currency garnered support from better-than-expected German factory orders data.
As local trade began...
More Positive UK News Sees the Pound Consolidate Gains GBP/USD, GBP/EUR
Published: 6 Aug at 10 AM
After UK services PMI was shown to have unexpectedly surged in July, hitting its highest level for over six years, Britain’s economic outlook was boosted and the Pound broadly strengthened.
Sterling climbed to 1.5375 against the US Dollar yesterday, extending an earlier gain, and hit a high of 1.1623 against the Euro.
In response to...
Sterling Supported By Strong Services PMI - GBP/USD Gains Extended
Published: 5 Aug at 10 AM
Towards the close of last week the Pound gathered support from the Bank of England’s decision to maintain its current level of asset purchases as well as surprisingly strong UK manufacturing/construction PMI.
As the European session began this morning the British currency was holding steady against the US Dollar and Euro.
Pound Money Transfer News: Sterling Receives a Boost
Published: 2 Aug at 10 AM
The pound received an unexpected boost yesterday after the Bank of England's Monetary Policy Committee (MPC) decided to hold off from an announcement on the much vaunted ‘forward guidance’ policy expected to be announced yesterday.
As expected, the MPC left UK interest rates unchanged at 0.5%, a level that has been in place since March...
The pound falls to a 4 month low against the euro
Published: 1 Aug at 9 AM
Ahead of today’s monthly policy announcements from both the Bank of England (BoE) and European Central Bank (ECB), the pound fell to trade at a 4 month low against the euro.
The BoE are expected to implement the policy of ‘forward guidance’ championed by new governor Mark Carney who used the policy to great success during his tenure...
Euro still down on Jackson Hole uncertainty
Published: 31 Aug at 9 AM
As investors become less confident that Federal Reserve chair Ben Bernanke will announced to new scheme of quantitative easing in the US at the Jackson Hole meeting today, the euro slipped down 0.1 per cent to $1.2509. Modestly upbeat reports from the US have led some experts to suggest that QE3 will not be announced today.
A report on...
Euro up ahead of Jackson Hole meeting
Published: 29 Aug at 9 AM
The euro saw a rise again yesterday for the first time since Thursday’s seven-week high of $1.2589 as speculation circulates about what will be announced at Friday’s central bankers’ meeting in Jackson Hole. Experts believe that Fed chairman Ben Bernanke will announce a third period of quantitative easing in the US, which will bring...
All eyes still on the euro
Published: 27 Aug at 10 AM
With a lack of major economic developments due to come out of Asia this week, all eyes are set to remain on the euro. Having just had its best week in six months, hitting a seven-week high of $1.2590 last Thursday and 1.5 per cent up on the week, the euro was steady at $1.2514 with resistance at around $1.2597 this morning, up from Friday’s...
Euro up on Spain bailout rumours
Published: 24 Aug at 11 AM
The euro hit a high of seven weeks yesterday on the back of rumours that Spain is talking to Eurozone leaders about the possibility of a bailout package. The common currency hit a high of $1.2589 on Thursday, the fourth consecutive day that a slight increase has been seen by investors.
According to experts, Spain is keen to discuss the...
Belize missed an interest payment of $23 million
Published: 22 Aug at 2 PM
After missing an interest payment of $23 million (£14.6 million) due on Monday, it is feared that Belize will default on its debt.
There is still a 30-day grace period in which Belize has to pay the interest, but it is likely they will not be able to pay it. Creditors are accusing Belize of trying to force the restructuring of the $550...
Euro reaches high against sterling before settling
Published: 20 Aug at 2 PM
EUR/GBP saw a drop of 0.09 per cent today to finish at 0.7851 after briefly hitting a high of 0.7872 on the back of positive rumours from Europe. A spokesperson for Germany’s finance minister suggested that the ECB was unlikely to target bond spreads, while a German magazine said it could set the interest rate for purchases of Eurozone...
Euro climbs to six-week high against yen
Published: 17 Aug at 2 PM
The euro hit a six-month high versus the yen today following comments from Germany Chancellor Angela Merkel which hinted that the European Central Bank will launch action to curb the debt crisis in the euro zone.
The dollar also shot up to a five-week peak against the struggling yen, driven by the recent spike in US Treasury yields on the...
Positive data helps dollar gain on yen
Published: 15 Aug at 2 PM
The dollar sat close to one-month peaks versus the yen in Wednesday’s early Asian trade after positive retail sales figures cooled suggestions of further Federal Reserve stimulus.
The growth in retail sales, which largely broadened across the board, enhanced the opinion that the slowdown in the country’s economic growth in the second...
EUR/USD down flowing euro zone data
Published: 14 Aug at 4 PM
The euro gained ground on the dollar on Tuesday on the back of data revealing that economic sentiment in Germany had lowered and that the economy in the euro zone had shrunk.
Eurostat revealed that the region’s gross domestic product had shrunk by 0.2 per cent in the second quarter, bringing the rate of contraction seen in the last 12...
Euro exchange rate lower as ECB optimism fades
Published: 10 Aug at 2 PM
The euro suffered a third straight day of falling after enjoying monthly highs earlier in the week as investors’ optimism faded over the European Central Bank’s plans to tackle the region’s debt crisis.
The common currency went down by 0.3 per cent to $1.2270 declining further from Monday’s one-month peak of $1.2444. It looks set...
Euro loses ground but ECB hopes could limit losses
Published: 8 Aug at 6 PM
The euro lost ground on the dollar on Wednesday, hampered by weak economic data from Germany and profit-taking on the back of three consecutive days of gains; however, losses could be short-lived as optimism remains that the European Central Bank may launch measures to reduce Italian and Spanish borrowing costs.
The single currency’s...
Euro has momentum on dollar in US trading
Published: 6 Aug at 6 PM
The euro climbed against the dollar after putting in a strong performance in New York trading on Monday and recording its second successive daily rise.
The single currency soared to a one-month high against the greenback in earlier trading, while the rise marks its strongest two-day gain on the dollar for over nine months. Trading was said...
Euro recovers from losses
Published: 3 Aug at 2 PM
The euro regained some ground on Friday as some market players became more optimistic about the about the European Central Bank’s decision on sovereign bond buying which could help combat the debt crisis in the euro zone.
Many investors had hedged their bets against the single currency on Thursday after the central bank dealt the bloc a...
Currency markets subdued as policy decision looms
Published: 2 Aug at 11 AM
The G3 currencies were forecast to mark time on Wednesday in Asian trading, on the back of another listless offshore session with the Federal Reserve’s decision on policy looming, a day before a European Central Bank meeting.
However, China’s official manufacturing PMI, scheduled for later in the day, could spice up local trading, with...