Latest 10 news items tagged Pound Sterling 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...
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...
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...
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...
Pound to Euro (GBP/EUR) Exchange Rate Dips as Brexit Fears Weigh on UK Market Optimism
Published: 24 Nov at 4 PM 2020
The Pound to Euro (GBP/EUR) exchange rate fell today after the Bank of England’s (BoE) Governor, Andrew Bailey, commented that Brexit could cause more damage to the British economy than Covid-19.
As a result, GBP investors have become increasingly jittery as UK-EU trade talks have failed to emerge with any certain signs of a post-Brexit trade deal.
Mr Bailey highlighted the difficulties of adjusting to a new trading relationship, saying:
‘It takes a much longer period of time for the real side of the economy to adjust to the...
GBP/USD Exchange Rate Rises as Covid-19 Vaccine Hopes Boost UK Economic Mood
Published: 10 Nov at 5 PM 2020
The Pound rose against the US Dollar today following positive news that the UK could receive up to 10 million Covid-19 vaccine as early as the end of the year.
UK Health Minister Matt Hancock was confident that vaccines could be rolled out by December.
The British Medical Association commented:
‘Vaccine availability will be limited to begin with, meaning only small numbers of vaccines may be given in December with most vaccinations taking place in early 2021.’
Consequently, UK markets are now more hopeful that the UK...
British Pound to US Dollar Exchange Rate Avoids Major Losses amid Resilient Market Sentiment
Published: 23 Oct at 5 PM 2020
Both the Pound and US Dollar weakened today, ending the week with a jittery note for the British Pound to US Dollar (GBP/USD) exchange rate. Investors may be more likely to buy the pair in the coming weeks though as UK and US political uncertainties clear up.
Since opening this week at the level of 1.2915, GBP/USD has been trending with an upside bias.
After a surge in demand earlier in the first half of the week, GBP/USD touched on a high of 1.3169. This was the best level for GBP/USD in a month and a half, since the beginning of...