Latest 10 news items tagged Forex from our financial blog...
Pound Euro (GBP/EUR) Exchange Rate Falls as Markets Fear Hung Parliament
Published: 12 Dec at 4 PM 2019
The Pound Sterling Euro (GBP/EUR) exchange rate was volatile, as British voters took to the polls on Thursday, leaving the pairing trading around €1.1819.
Over the course of the week, the Pound has been buoyed by Brexit optimism reaching a two-and-a-half-year high against the single currency.
Overnight, GBP volatility increased to the highest level seen since the 2016 Brexit referendum, and it is likely the Pound will move sharply once the election results are in.
Jitters were sent through the market after a YouGov poll on...
Pound Australian Dollar (GBP/AUD) Exchange Rate Flat as MPs Agree to Pre-Christmas Election
Published: 30 Oct at 1 PM 2019
The Pound Sterling Australian Dollar (GBP/AUD) exchange rate was left muted today, as MPs began preparations for a pre-Christmas election, leaving the pairing trading around AU$1.8795.
Sterling was supported this week on increased hopes the UK will avoid crashing out of the European Union without a deal thanks to a three-month ‘flextension’ granted by EU leaders.
Prime Minister Boris Johnson has said the election will break the current Brexit deadlock that has plagued parliament, preventing the UK from leaving the bloc....
Pound Mexican Peso (GBP/MXN) Exchange Rate Soars as Mexican Finance Minister Resigns
Published: 10 Jul at 5 PM 2019
The Pound Mexican Peso (GBP/MXN) rose by 0.8% today and is currently trading around Mex$ 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.
‘I am convinced that all economic policy should be realized based on evidence. However, during my tenure these convictions were not echoed.’
Edward Glossop, a Latin America Economist at Capital Economics, said...
Pound Australian (GBP/AUD) Exchange Rate Steadies as Risk-Appetite Returns Ahead of G20 Summit
Published: 27 Jun at 2 PM 2019
The Pound Australian Dollar (GBP/AUD) held steady today as ‘Aussie’ traders have been buoyed with a risk-on attitude ahead of tomorrow’s G20 summit in Japan.
This came following comments from the US Treasury Secretary, Steven Mnuchin, who said yesterday:
‘We were about 90% of the way there [with a deal] and I think there’s a path to complete this.’
As China is Australia’s closest trading partner, optimism over a US-China trade deal has encouraged traders to invest in the risk-correlated ‘Aussie’.
Euro US Dollar Exchange Rate Rises despite German Business Expectations Nearing 5-Year Low
Published: 24 Jun at 4 PM 2019
The Euro US Dollar exchange rate edged higher today and is currently trading around $1.1392 on interbank market.
The Euro rose despite the publication of the German IFO business expectations figures for June, which eased below the forecast 94.5 decrease to 94.2 – a near five-year low.
This has left many single currency traders jittery as the Eurozone’s largest economy shows signs of slowing down.
Analysts at Capital Economics, commented:
‘There are two likely reasons for the deterioration in business expectations....
Pound Sterling to US Dollar Exchange Rate Drops -0.6% on Lower BoE Rate Hike Odds
Published: 19 Jul at 5 PM 2018
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 greater-than-expected declines during June.
The concern among GBP traders is that along with this week’s poor wage growth and inflation rate figures, there is now not an argument for the Bank of England...
Pound Sterling to New Zealand Dollar (GBP/NZD) Exchange Rate Rises on UK GDP Upgrade
Published: 10 Jul at 2 PM 2018
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 today has brought its first ‘monthly’ GDP readings.
May’s figure has shown an improvement on April’s reading, with growth from 0.2% to 0.3%.
Additional support for the Pound has come from...
Rising UK Factory Orders Push Pound Sterling to US Dollar Exchange Rate (GBP/USD) Up 0.3%.
Published: 20 Jun at 5 PM 2018
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 decline to expansion at 13 points.
Higher figures mean a greater quantity of manufacturing orders from UK factories, so this has been seen as good news for the sector during the month.
Currency Update: Euro to US Dollar Exchange Rate (EUR/USD) Rises 0.7% despite Italian Political Crisis
Published: 30 May at 1 PM 2018
Euro to US Dollar (EUR/USD) Exchange Rate Rally Triggered by Historic Low for German Jobless Rate
Today’s Euro to US Dollar (EUR/USD) exchange rate rise represents a recovery for the single currency; looking further back the pairing is still near a 10-month low.
The Euro has recently been supported by a range of Eurozone confidence measures for May, as well as a historic reduction in the German unemployment rate during the same month.
In the former case, Eurozone business confidence and consumer expectations for inflation...
Retail Sales Recovery Triggers 0.5% Pound to Canadian Dollar (GBP/CAD) Exchange Rate Rise
Published: 24 May at 2 PM 2018
Pound to Canadian Dollar (GBP/CAD) Exchange Rate Rises as Retail Sales Stats Beat Forecasts
The Pound to Canadian Dollar exchange rate (GBP/CAD) dipped on Wednesday’s trading session, but has since risen by 0.5% thanks to UK retail sales data for April.
The readings have shown levels of sales rise by more than expected during April, on the month and the year with and without fuel sales included.
While the GBP/CAD exchange rate has clearly been supported by the data, economists have given a more mixed reaction to the...