Latest 10 news items tagged Pound Dollar Exchange Rate from our financial blog...
Pound to US Dollar (GBP/USD) Sinks as Fed Announces 'Unlimited QE' Program
Published: 23 Mar at 5 PM 2020
The Pound to US Dollar (GBP/USD) exchange rate fell by over -1% after the US Federal Reserve launched an ‘unlimited’ quantitative easing program to boost the US economy. The pairing is currently fluctuating around $1.146.
Chris Rupkey, the Chief Financial Economist at MUFG Union Bank, commented: “Fed policy is shifting into a higher gear to try to help support the economy which looks like it is in freefall at the moment.”
“The central bank is shifting from being not just the lender of last resort, but now it is the buyer...
Pound US Dollar (GBP/USD) Plummets to Lowest Level Since 1985
Published: 18 Mar at 5 PM 2020
The Pound US Dollar (GBP/USD) plummeted by over -2% and is currently trading around $1.17, its lowest level since 1985. Traders have flocked to the safe-haven refuge of the US Dollar (USD) today with the ongoing coronavirus crisis threatening to push the global economy into a recession.
Thomas Flury, a Currency Strategist at the Swiss Bank UBS, explains: “The main reason for dollar demand is liquidity concerns: In volatile times, companies and investors need dollars to settle transactions.”
“As long as these concerns persist,...
British Pound to US Dollar Exchange Rate May Soar Higher if Federal Reserve Turns Dovish
Published: 13 Sep at 5 PM 2019
While the Pound’s late-week gains on Brexit hopes were volatile and likely temporary, the British Pound to US Dollar (GBP/USD) exchange rate still sustained impressive gains last week overall. The US Dollar struggled to avoid losses against Sterling due to expectations for the Federal Reserve to cut US interest rates next week.
After opening last week at the level of 1.2281, GBP/USD saw a jump in demand on Monday and sustained those gains for the remainder of the week.
GBP/USD surged again on Friday. While the pair was unable to...
British Pound to US Dollar Exchange Rate Losses Limited despite Impressive US Non-Farm Payroll Report
Published: 3 May at 3 PM 2019
Even though the Federal Reserve has taken a more hawkish than expected tone on the US economic outlook and some key US data has beaten expectations, the British Pound to US Dollar exchange rate’s losses on Friday were limited. Weakness in market risk-sentiment kept investors hesitant to buy the US Dollar too much.
After opening this week at the level of 1.2912, GBP/USD advanced on Brexit speculation and saw solid gains. In the middle of the week, GBP/USD even touched on a half-month-high of 1.3097 before sliding towards the end of...
British Pound to US Dollar Exchange Rate Trends near Weekly Highs Ahead of US Mid-Terms
Published: 5 Nov at 4 PM 2018
Despite broad uncertainties about the Brexit process and a lack of fresh supportive UK data, the British Pound to US Dollar (GBP/USD) exchange rate tested its best weekly levels on Monday. Investors bought Sterling due to the latest Brexit hopes, while the US Dollar struggled to avoid losses ahead of Tuesday’s anticipated US Mid-Term Elections.
So far it appears that GBP/USD could sustain most of last week’s major gains. GBP/USD surged from 1.2826 to 1.2970. On Monday, GBP/USD touched on a two week high of 1.3053 and generally...
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 to US Dollar (GBP/USD) Exchange Rate Rise Triggered by Signs of Upcoming BoE Interest Rate Hike
Published: 21 Jun at 4 PM 2018
GBP/USD Exchange Rate Near Best Weekly Exchange Rate after BoE Vote
After a nearly week-long wait, Pound Sterling (GBP) traders have finally been rewarded today with economic news that has caused a significant advance against the US Dollar (USD).
The earlier Bank of England (BoE) interest rate decision brought no change to interest rates, but was still enough to push the GBP/USD exchange rate up by 0.7%.
Currency traders were most interested in the makeup of voting BoE members. Andy Haldane, a previous opponent of higher interest...
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.
Barnier?s Rejection of Brexit Backstop Triggers GBP/USD Exchange Rate Losses
Published: 8 Jun at 4 PM 2018
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 reach an agreement on the Irish border.
The backstop is designed to prevent a hard border between Ireland and Northern Ireland, but exactly when the arrangement ends is not entirely clear.
Pound to US Dollar (GBP/USD) Exchange Rate Drops -0.3% Today after Post-Brexit Customs Union Rejected
Published: 17 May at 4 PM 2018
Fading Hopes for UK Customs Union Membership Trigger Pound to US Dollar (GBP/USD) Exchange Rate Decline
Today has been relatively quiet in terms of UK economic data, so the Pound to US Dollar (GBP/USD) exchange rate has instead been affected by Brexit news.
Wednesday’s session of Prime Minister’s Questions brought hopes that the UK might be able to remain in the EU customs union after Brexit, based on direct remarks from PM Theresa May.
Since then, however, Mrs May has categorically rejected the UK remaining in the EU customs...