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Pound Sterling News

Latest 10 news items tagged Pound Sterling from our financial blog...

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...
Pound New Zealand Dollar (GBP/NZD) Falls as BoE Warns of Likely Brexit Recession on No-Deal Published: 1 Aug at 5 PM 2019
The Pound New Zealand Dollar (GBP/NZD) exchange rate eased today, leaving the pairing fluctuating around NZ$1.850. Sterling fell against the New Zealand Dollar following the announcement of the Bank of England’s interest rate decision today, which held at 0.75%. However, Mark Carney, the Governor of the BoE, was downbeat in his forecast, saying that the UK could face a likely recession on a no-deal Brexit – a prospect that now looks highly likely. Mr Carney said: ‘After a no-deal Brexit, sterling would likely fall, risk...
Pound Canadian Dollar (GBP/CAD) Exchange Rate Plummets by -0.9% as No-Deal Brexit Fears Return Published: 16 Jul at 5 PM 2019
The Pound Canadian Dollar (GBP/CAD) exchange rate dropped by -0.9%, leaving the pairing fluctuating around CA$1.618. Sterling plummeted against many of its competitors today as no-deal Brexit fears soared following Tory leadership hopefuls Boris Johnson and Foreign Secretary Jeremy Hunt have hardened in their position on the Northern Irish backstop. Both potential prime ministers commented that the backstop idea was effectively ‘dead’, and would not be included in negotiations with the European Union. Neale Richmond, the...
Pound Mexican Peso (GBP/MXN) Exchange Rate Soars as Mexican Finance Minister Resigns Published: 10 Jul at 5 PM 2019
The Pound Mexican Peso (GBP/MXN) rose by 0.8% today and is currently trading around Mex$ 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. He said: ‘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 Danish Krone (GBP/DKK) Exchange Rate Steadies despite Weak UK Construction Figures Published: 2 Jul at 5 PM 2019
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 at IHS Markit, was downbeat, saying: ‘The latest survey reveals weakness across the board for the UK construction sector, with house building, commercial work and civil engineering activity all...
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’. Doubts...
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....
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 Euro Exchange Rate Surges on Hopes for Formal Brexit Delay Published: 23 Jan at 4 PM 2019
Due to a stream of disappointing Eurozone ecostats published over the past week, the British Pound to Euro (GBP/EUR) exchange rate surged towards the end of Wednesday’s European session on the latest Brexit speculations. Despite mixed demand for Euro rivals, a weaker economic outlook has left the shared currency without strong support. GBP/EUR surged from 1.1196 to 1.1328 last week on Brexit hopes and have already climbed to trend near a high of 1.1490 at the time of writing this week. This was the best level for GBP/EUR for over two...
British Pound to Australian Dollar Exchange Rate Recovers to Weekly Highs on Brexit Speculation and Australian Data Published: 5 Dec at 1 PM 2018
Despite its risk rally driven plummet at the beginning of the week, the British Pound to Australian Dollar (GBP/AUD) exchange rate has seen a strong recovery since Tuesday evening. This was due to a combination of factors including soft Brexit hopes, weaker risk-sentiment and some disappointing Australian ecostats. After opening this week at the level of 1.7447, GBP/AUD plummeted by over two cents and briefly touched on an eleven month low of 1.7217. Since then though, GBP/AUD has recovered its weekly losses. On Wednesday, GBP/AUD...