Latest 10 news items tagged Currency Exchange from our financial blog...
British Pound to US Dollar Exchange Rate Struggles to Recover after Profit Taking Hit
Published: 8 Apr at 2 PM 2021
The past week has seen both the Pound and US Dollar sold from their best levels, but the British Pound to US Dollar (GBP/USD) exchange rate is tumbling as the Pound was hit particularly hard by a shift in market appetite.
Both currencies have seen strong movement in recent weeks, leading to GBP/USD volatility. Last week, GBP/USD dipped before ultimately advancing from the level of 1.3790 to 1.3830.
This week’s movement has been even more volatile. GBP/USD touched on a fortnight best of 1.3918 earlier in the week, before tumbling...
Euro to US Dollar Exchange Rate Struggles Near 2021 Worst despite Forecast-Beating Eurozone PMIs
Published: 1 Apr at 1 PM 2021
Despite fresh signs of resilience in the Eurozone economic outlook, the Euro to US Dollar (EUR/USD) exchange rate has been struggling to recover from this week’s lows as the US Dollar remains broadly appealing in comparison. Unless upcoming US data disappoints investors, the Euro may have a difficult time mounting a more solid recovery.
Since opening this week at the level of 1.1771, EUR/USD has been struggling to hold its ground. EUR/USD tumbled in the middle of the week and hit a low of 1.1704 - the worst level for the pair all...
Pound to US Dollar Exchange Rate Near Month-And-A-Half Worst as US Growth Report Comes In
Published: 25 Mar at 3 PM 2021
The British Pound to US Dollar (GBP/USD) exchange rate has been tumbling this week, as investors seeking safer assets buy the US Dollar against a weaker Pound. While the pair flounders near lows, markets await tomorrow’s key UK and US data.
Since GBP/USD opened this week at the level of 1.3869, the pair has been trending with a bearish bias. GBP/USD touched on a low of 1.3673 this morning, the pair’s worst level since the beginning of February over a month and a half ago.
At the time of writing, Sterling is steadying slightly....
Pound to US Dollar Exchange Rate Gains Limited as Markets Digest BoE and Fed Decisions
Published: 18 Mar at 3 PM 2021
After trending lower for half of the week, the British Pound to US Dollar (GBP/USD) exchange rate has been attempting to climb since last night’s Federal Reserve decision. However, today’s Bank of England (BoE) decision did little to bolster Sterling higher.
Since opening this week at the level of 1.3921, GBP/USD has seen mixed movement. GBP/USD neared March lows earlier in the week, before rebounding last night and nearing March highs today.
Before the Bank of England policy decision, GBP/USD touched just below the key level...
Euro to US Dollar Exchange Rate Continues Recovery despite ECB’s Dovishness
Published: 11 Mar at 4 PM 2021
Investors continued to buy the Euro to US Dollar (EUR/USD) exchange rate today, with the pair still recovering from the lows seen at the beginning of the week. The US Dollar has been tumbling since US inflation data was published yesterday, which is boosting Euro appeal despite a cautious tone from the European Central Bank (ECB).
Last week’s surging rebound in demand for the US Dollar pulled EUR/USD down from 1.2072 to 1.1912, a considerable loss of over a cent and a half.
Then, when markets opened on Monday morning EUR/USD...
Pound to Euro (GBP/EUR) Exchange Rate Rises as UK Construction Data Boosts Economic Confidence
Published: 4 Mar at 6 PM 2021
The Pound to Euro exchange rate rose by 0.5% today, with the pairing currently fluctuating around €1.16.
Sterling rose following yesterday’s announcement of the 2021 Budget. Chancellor Rishi Sunak repeated his pledge to do ‘whatever it takes’ to help the UK economy recover from the Covid-19 pandemic.
Additionally, the UK’s Covid-19 infections continue to drop, buoying confidence in the outlook for the economy in the months ahead.
Today also saw promising UK economic data in the form of the latest Construction PMI...
Euro to US Dollar Exchange Rate Returns to Key 1.22 Levels as Federal Reserve Stays Dovish
Published: 25 Feb at 3 PM 2021
Despite uncertainty over the Eurozone’s coronavirus outlook, the Euro to US Dollar (EUR/USD) exchange rate has been trending higher again this week. Whether or not the pair sustains a strong advance depends on upcoming Eurozone and US data however.
Since markets opened this week, EUR/USD has been trending with an upside bias. EUR/USD opened this week at the level of 1.2117 and has been edging higher and higher each day.
Today, EUR/USD touched on a high of 1.2235. This was the best level for EUR/USD in over a month, since the...
British Pound to US Dollar Exchange Rate Hits New 33 Month Best despite Strong US Data
Published: 19 Feb at 4 PM 2021
The British Pound to US Dollar (GBP/USD) exchange rate continues to go from strength to strength, despite some strong US data today. Optimism around Britain’s potential for recovery from the coronavirus pandemic continues to dominate the pair.
At the beginning of the week, GBP/USD trended in the region of 1.3843 but spent the week trending higher.
A dip to near the week’s opening levels near the end of the week was short lived. Instead, GBP/USD was trending near a 33 month high of 1.4032 before markets closed for the week....
British Pound to US Dollar Exchange Rate Near New 2-Level Best as Sentiment Continues to Improve
Published: 21 Jan at 5 PM 2021
The Pound rally has been gathering steam while risk aversion and US economic concerns weigh on the US Dollar, making it easier for the British Pound to US Dollar (GBP/USD) exchange rate to trend near its best levels in years.
Since opening this week at the level of 1.3585, GBP/USD has been trending higher save for a brief dip near the beginning of the week.
Last night, GBP/USD touched on a high of 1.3742. This was the best level for the pair in over two and a half years, since the first half of 2018.
At the time of writing on...
British Pound to US Dollar Exchange Rate Flounders as Markets Digest Political Chaos
Published: 7 Jan at 5 PM 2021
Amid the tail-end of a chaotic week for global markets, the British Pound to US Dollar (GBP/USD) exchange rate has steadied. Investors continue to digest the events of the past few days, but the US Dollar may strengthen if upcoming data impresses.
After opening this week at the level of 1.3676, GBP/USD briefly edged higher and touched on a high of 1.3697. This was the best level for GBP/USD in two and a half years, since mid-2018.
Since then the pair has been trending with a downside bias. GBP/USD has been floundering within a...