Archived Currency News...
Risk Appetite Improves as EU Referendum Opinion Polls Suggest ‘Remain’ Victory
Published: 20 Jun at 4 PM
<b>Pound Sterling (GBP) </b>
During Monday’s European session the Pound surged across the board, rising above 1.29 against the Euro and 1.47 against the US Dollar. The appreciation can be linked to the latest EU referendum opinion polls. The polls suggest that the UK will vote to remain a member of the European Union on June...
Sterling Volatility Reaches Record-High on 'Brexit' Jitters
Published: 14 Jun at 4 PM
<b>Pound Sterling (GBP)</b>
The British Pound has seen significant price swings during Tuesday’s European session as traders react to opinion polls and newspaper articles suggesting that the UK will vote to leave the European Union on June 23rd. Sterling implied volatility has reached a record-high with traders so reactionary...
US Dollar (USD) Recovers Against Canadian Dollar (CAD) as Oil Prices Slip
Published: 9 Jun at 3 PM
The US Dollar to Canadian Dollar (USD/CAD) exchange rate has dropped throughout the week due to positive Canadian news and strong risk sentiment. However, the US Dollar began to recover from its lows on Thursday as oil prices slipped on profit-taking.
US Dollar (USD) Recovers From Lows
The US Dollar has underperformed across the board...
Discouraging US Non-Farm Payrolls Stokes Risk Sentiment, Commodity Currencies Rally
Published: 6 Jun at 11 AM
A report released on Friday signalled a welcome boost in the UK services sector, trumping forecasts for May. The Pound was unable to make substantial gains, however, as risk sentiment dominated currency movement.
After April’s three-year low of 52.3, the services sector rebounded to a healthy 53.5. A third of UK businesses claim...
As Traders await Key Ecostats GBP Edges Higher, EUR Dives and USD Gains
Published: 1 Jun at 9 AM
Pound Sterling (GBP)
In expectation of a better-than-forecast British Manufacturing PMI, the Pound edged higher against many of its closest rivals on Monday morning. The Confederation of British Industry (CBI) stated that they believe the UK economy grew at its fastest pace for 12 months so traders will be looking towards economic data...
Canadian Dollar Recovers Losses after Poor GDP, CAD, EUR, USD
Published: 30 Jun at 6 PM
Daily Currency Update
Considerable movement with the Pound to Canadian Dollar exchange rates have strengthened the ‘Sterling’ to 1.82, hitting a daily high but still standing at lower than predicted. Canada’s GDP also came in at lower than expected, which in turn weakened the ‘Loonie’. The ‘Aussie’ has crossed...
RAND (ZAR) DEPRECIATES, POUND (GBP) AWAITS GDP DATA, US DOLLAR (USD) LETHARGIC
Published: 27 Jun at 10 AM
Friday sees an important day for the Pound with the release of GDP data at 9:30 GMT. The results are predicted to remain the same at 0.8% QoQ and 3.1% YoY. The Pound has recently been gaining against its major peers, however Friday morning sees it trading slightly lower in anticipation of the results. A report from...
US Dollar Plummets, ‘Kiwi’ thrives, Rand Stable, Pound Heading to $1.70
Published: 26 Jun at 11 AM
Thursday will see Governor for the Bank of England Mark Carney and other policy members issue their financial recommendations for the UK economy. After Carney dampened the spirits of hopeful investors that the UK would be subject to interest rate rises in the near future, the Pound plummeted. However, Thursday sees it creeping...
GBP/USD Trending Higher, NZD/USD Rises
Published: 23 Jun at 3 PM
Pound Sterling (GBP)
The Pound is set to keep on its upward trajectory after reaching its five-year high recently and breaking the $1.70 US Dollar threshold. Friday will prove the most influential day this week with GDP data published, which is currently forecast to stay the same, at 0.8% QoQ and 3.1% YoY. Currency expert for the Bank of...
GBP/USD Exchange Rate Trending Above 1.70
Published: 20 Jun at 12 PM
GBP, Pound Sterling
Thursday saw the Pound close against the US Dollar at over $1.70 for the first time since the global collapse in 2008. The Pound reached $1.7062, the highest attainment since 21st October 2008. Predictions from economists suggest that the Pound will rise higher with the US Dollar being held down by low interest rates...
BoE Minutes Cause Pound Fluctuations, FOMC Announcement Ahead
Published: 18 Jun at 1 PM
Pound Sterling GBP
In the wake of Tuesday’s slightly below forecast inflation data for the UK, the Pound was trending in a softer position against the US Dollar. While the GBP/USD pairing also declined in response to an unexpectedly strong surge in US consumer prices, Sterling remained within touching distance of a five-year high against...
Pound Softer after Inflation Falls, US Dollar Boosted, Euro Fluctuates
Published: 17 Jun at 4 PM
Pound Sterling GBP/USD
While the Pound is retaining much of the strength derived from recent rate-hike speculation, the British asset did slide slightly against the US Dollar and trim its daily advance against the Euro to 0.14 per cent after the publication of below-forecast UK consumer price inflation figures. The CPI report showed that...
Pound Holds Gains, US Dollar Fluctuates, Iraq in Focus
Published: 16 Jun at 5 PM
GBP/USD – Trading in the Region of 1.6984
The tenuous situation in Iraq might be generating a risk-off environment, but the Pound isn’t feeling the pressure. The British asset continues to put on an impressive performance against its major rivals and remains trading in the region of a 19-month high against the Euro....
Pound Steady After BoE Decision - ECB On Tap
Published: 5 Jun at 1 PM
GBP/USD – Trading in the Region of 1.6764
Ahead of the Bank of England’s interest rate decision the Pound was slightly stronger against its US rival thanks to a report detailing a surge in UK house prices in May. The housing report prompted this response from one industry expert; ‘Expectations of house price gains are...
GBP/EUR Steady Before ECB Decision, USD Pressured
Published: 4 Jun at 5 PM
GBP/USD – Trading in the Region of 1.6751
The Pound was little changed against its major currency counterparts following the release of slightly better-than-forecast services and composite PMI. Sterling movement may be a little stilted following tomorrow's Bank of England rate decision unless the central bank takes...
Pound Rallies After PMI, US Dollar Boosted, Euro Weaker
Published: 3 Jun at 5 PM
GBP/USD – Trading in the Region of 1.6750
After beginning the week in a stronger position against the Euro, the Pound extended its advance on Monday thanks to on-target manufacturing data for the UK. As both the Bank of England and European Central Bank are due to deliver their rate decisions this week, significant...
GBP Fluctuates, EUR Strengthens Despite Inflation Drop
Published: 3 Jun at 5 PM
GBP/USD – Trading in the Region of 1.6737
Both the GBP/USD and GBP/EUR exchange rates fluctuated on Tuesday as investors processed a mixed bag of reports. While the UK’s construction PMI came in slightly softer than estimated, UK house prices were shown to have surged to a new record high – surpassing even the...
Thai Baht (USD/THB) Dips, Ruble (USD/RUB) Gains
Published: 28 Jun at 4 PM
With the Federal Reserve’s approach to quantitative easing drawing funds away from emerging market economies, the Thai Baht has weakened considerably over the last three months.
In fact, the currency’s 6.1 per cent quarterly decline against the US Dollar is its most severe for almost 13 years.
The Baht dipped modestly against its...
Euro (EUR) Gains, US Dollar (USD) Strengthens, Pound (GBP) Little Changed
Published: 28 Jun at 10 AM
GBP/USD – Little Changed, 1.5261
As the European session got underway the Pound was little changed against the Euro and US Dollar. The British currency was unaffected by data showing that UK house prices gained by less-than-expected in June, or a separate report showing that domestic consumer confidence hit its highest...
Disappointing US And UK Growth Data Causes Pound (GBP) And US Dollar (USD) Declines
Published: 27 Jun at 10 AM
GBP/USD – Trading Lower, 1.5326
The Pound may weaken against peers including the US Dollar and Euro as the European progresses following the publication of some mildly disappointing domestic growth data. Although quarter-on-quarter UK GDP came in at 0.3 per cent, as expected, year-on-year the economy expanded by 0.3 per...
Rupee (USD/INR) Hits Record Low, Rand (USD/ZAR) And Lira (USD/TRY) Advance
Published: 26 Jun at 3 PM
Despite the latest data revealing that the US economy grew by less than expected in the first quarter of the year, the US Dollar broadly strengthened following yesterday’s stream of better-than-expected US news.
Consequently, the Rupee weakened to a record low against the US Dollar, hitting 60.3775 Rupee per Dollar despite the Indian...
Positive US News Sees Pound (GBP) Euro (EUR) And Loonie (CAD) Fall Against US Dollar (USD)
Published: 26 Jun at 10 AM
GBP/USD – Trading Lower, 1.5413
Surprising strong US data caused the Pound to weaken modestly against the US Dollar during the local session. The British currency was little changed against the Euro as European markets opened this morning, but Sterling fluctuations may occur in response to Chancellor of the Exchequer...
Thai Baht (USD/THB) Advances, Rupee (USD/INR) Close to Record Low
Published: 25 Jun at 12 PM
The Thai Baht advanced to 31.02 Baht per Dollar, its strongest level for a week, after the Bank of Thailand continued to intimate that it will intervene in order to prevent the currency weakening further.
On several occasions the central bank has stated that it is prepared to take action if the currency does not halt or pare the descent...
Pound (GBP) Stronger, US Dollar (USD) Slips Against Yen (JPY), Euro (EUR) Little Changed
Published: 25 Jun at 10 AM
GBP/USD – Trading Higher, 1.5443
With the number of loans for house purchases far exceeding estimates in May, the Pound was slightly stronger ahead of a UK debt sale and Mervyn King’s final address as Bank of England Governor. While these factors could cause additional Sterling fluctuations, investors will largely be...
Mexican Peso (USD/MXN) And Turkish Lira (USD/TRY) Hit Record Lows
Published: 24 Jun at 12 PM
With the appeal of higher-risk and emerging market currencies severely knocked by the expectation that positive US economic data could inspire the Federal Reserve to begin tapering easing in the months ahead, the Mexican Peso posted a staggering five-day drop of 4.5 per cent against the US Dollar.
This was the South American currency’s...
Pound (GBP/USD) Aussie (AUD/USD) Yen (JPY/USD) And Kiwi (NZD/USD) Weaker
Published: 24 Jun at 10 AM
GBP/USD – Trading Lower, 1.5364
Sterling slipped to a more than two-week low against the US Dollar as the European session began. With the sale of UK government bonds looming the Pound also declined against the Euro. The biggest cause of Pound fluctuations in the week ahead is likely to be the Bank of England’s Financial...
Currencies of Thailand (THB) South Korea (KRW) India (INR) All Plummet on US News
Published: 21 Jun at 6 PM
Over the course of this week emerging-market and Asian currencies have been severely affected by US news.
The Federal Reserve restating its commitment to bringing quantitative easing to an end sent higher-risk assets tumbling, with Asian currencies falling by the most for almost two years over the past five days.
As industry expert...
Indian Central Bank Steps In As Rupee (USD/INR) Hits Record Low
Published: 20 Jun at 4 PM
Global markets were existing in a state of suspended animation prior to Federal Reserve Chairman Ben Bernanke’s fiscal policy speech.
After he announced that the Fed would be tapering quantitative easing in line with US economic growth, with a view to bringing it to an end completely by mid 2014, the currency market went haywire....
Fed Pledge To Taper US Easing Causes Extensive Currency Movement
Published: 20 Jun at 11 AM
GBP/USD – Trading Lower, 1.5420
Although the Pound fell to a two-week low against the US Dollar following the Federal Reserve’s policy announcement, the British currency fluctuated slightly this morning as UK retail sales data greatly exceeded economist’s expectations. This afternoon’s US news could cause further...
Russian Ruble (RUB) Declines, Brazilian Real (BRL) Gains
Published: 19 Jun at 3 PM
After a lack of interest resulted in the Finance Ministry scrapping plans for the sale of 15-year Ruble debt, the Russian currency tumbled by 0.8 per cent against the US Dollar, hitting 32.2525 Rubles per Dollar.
The sale of 10 billion Rubles of 15-year bonds was due to take place today, but was prevented from going ahead by a shortage of...
Pound (GBP) Aussie (AUD) and Loonie (CAD) Weaker Ahead Of FOMC Statement
Published: 19 Jun at 10 AM
GBP/USD – Trading Lower, 1.5652
The Pound continued to edge away from the four-month high recorded against the US Dollar last week as UK inflation was shown to have accelerated by more than expected in May. Although investors are largely focusing on developments in the US, today’s release of minutes from the Bank of...
USD/USD Mexican Peso Recoups Losses As President Speaks
Published: 18 Jun at 12 PM
Yesterday the Mexican Peso tumbled by 1.3 per cent against the US Dollar before extending its decline by 0.8 per cent during local trade.
However, comments issued by Mexico’s President Enrique Pena Nieto during a news interview allowed the currency to modestly rebound.
The Peso strengthened to 12.8270 from 12.8201 after Pena Nieto...
Euro (EUR), Pound (GBP) And Yen (JPY) Fall Against US Dollar (USD)
Published: 18 Jun at 10 AM
GBP/USD – Trading Lower, 1.5696
Before UK CPI figures were published the Pound dipped against the ‘Greenback’. Economists expected today’s report to show that consumer price inflation accelerated in May. However, month-on-month and year-on-year CPI exceeded economist’s expectations so the Pound is likely to...
USD/CNY Yuan Gains On PBOC Action USD/TRY Lira Falls As Protests Continue
Published: 17 Jun at 2 PM
After the People’s Bank of China opted to raise its reference rate to a fresh record of 6.15980, the Chinese Yuan climbed by the most for three weeks against the US Dollar.
The PBOC adjusted the Yuan’s reference rate by 0.01 per cent.
During local trade the Yuan strengthened to 6.1250 per Dollar, however strategist Khoon Goh...
US Federal Reserve Policy Meeting To Cause Major Currency Volitility
Published: 17 Jun at 10 AM
GBP/USD – Trading Higher, 1.5713
Last week the Pound hit a four-month high against the US Dollar and the British currency was able to consolidate recent gains this morning as an industry report revealed that the asking price of UK homes rose this month. Sterling was little changed against the Euro and is unlikely to...
Norwegian Krone Gains on Euro (NOK/EUR) As Government Prepares To Up Stimulus
Published: 14 Jun at 3 PM
The Krone advanced to 7.6536 Krone per Euro this morning in response to assertions that Norway is prepared to increase stimulus if the slowdown in the Eurozone continues to have a negative impact on the nation’s growth.
Norway’s Finance Minister Sigbjoern Johnsen recently stated: ‘To be faithful now, in a more turbulent situation,...
GBP/USD Weaker, AUD/USD Stronger - Federal Reserve Concerns Inspire Volatility
Published: 14 Jun at 10 AM
GBP/USD – Trading Lower, 1.5664
The Pound briefly strengthened against the US Dollar as data showed that UK house prices rose to a record high last month. Although Sterling has since dropped away from the four-month high achieved yesterday, it continues to benefit from a series of better-than-expected pieces of UK data....
Indian Rupee/US Dollar (INR/USD) Weakness Is Likely To Prevent RBI Adjusting Rates
Published: 13 Jun at 4 PM
Indian Inflation might be softening, and economic growth may have slumped to a decade low, but the Reserve Bank of India is unlikely to lower policy rates when it meets on Monday.
Economists are largely expecting that because of a concerning current account deficit and a weak rupee upping the cost of imports the Indian central bank will...
Asian Stocks Fall, Aussie (AUD) Kiwi (NZD) And Rand (ZAR) Tumble, Yen (JPY) Gains
Published: 13 Jun at 10 AM
GBP/EUR – Trading Lower, 1.1737
Yesterday stronger than anticipated UK employment data allowed the Pound to turn bullish, and the British currency advanced on several of its main rivals. However, although Sterling is little changed against the US Dollar it did slip against the Euro as the European session began. The...
Lira Extends Gains As Calm Returns To Istanbul (TRY/USD) – For Now
Published: 12 Jun at 2 PM
Overnight Turkish police clashed with protesters taking a stand in Taksim Square. Volleys of tear-gas were fired and water cannons were repeatedly set off, dispersing the crowd of demonstrators.
This morning municipal workers set out to clean-up the iconic Turkish landmark, banishing litter and graffiti.
As some measure of calm...
Pound (GBP) Euro (EUR) Aussie (AUD) Stronger, Yen (JPY) Weaker
Published: 12 Jun at 10 AM
GBP/USD – Trading Higher, 1.5661
As the European session progresses the Pound is likely to benefit from the latest UK employment figures, which showed that jobless claims declined by more than anticipated last month. Although the UK unemployment rate held at 7.8 per cent the economy average weekly earnings in the three...
Russian Ruble (RUB/USD) Declines On Trade Surplus Concerns
Published: 11 Jun at 4 PM
Although Bank Rossii made its largest foreign currency sales for a year, the Ruble still shed 0.7 per cent against the Russian central bank’s Dollar-Euro basket, falling to 37.2180.
According to two industry experts, when the Ruble’s exchange rate weakens beyond 36.65 against the basket the central bank intervenes but Bank Rossii’s...
Yen (JPY) Rallies, Aussie (AUD) And Kiwi (NZD) Decline
Published: 11 Jun at 10 AM
GBP/USD – Trading Lower, 1.5539
Sterling may fluctuate this morning as year-on-year UK manufacturing production was shown to have declined by more than forecast in April, although industrial production posted an unexpected 0.1 per cent month-on-month gain. Additional Pound movement is likely to occur this afternoon...
USD/TRY Lira Drops By Most For Over 12 Months As Unrest Continues
Published: 10 Jun at 3 PM
As Turkish protesters were issued a stern warning by the nation’s Prime Minister the Lira plummeted by 1.1 per cent, the currency’s most significant drop against the US Dollar for over 12 months.
The Lira hit 1.8962 against the US Dollar after PM Recep Tayyip Erdogan made an ‘uncompromising’ statement.
After visiting two...
US Dollar Broadly Stronger - Pound (GBP), Euro (EUR), Yen (JPY) And Aussie (AUD) Decline
Published: 10 Jun at 10 AM
GBP/USD – Trading Lower, 1.5501
After hitting a three and a half year high against the US Dollar last week, the Pound modestly weakened against its US peer this morning. Sterling was little changed against the Euro as a BDP LLP survey revealed that the UK economy is showing signs of recovery.
Canadian Dollar to US Dollar exchange rate rises as new jobs hit decade high
Published: 7 Jun at 4 PM
The Canadian Dollar has strengthened by 0.7% against its US relation after the Canadian economy added the largest amount of new jobs in a decade and as unemployment fell.
According to statistics Canada, employment rose by 95,000 in May smashing economist expectations by triple. The rise is the biggest since August 2002 with the jobless...
US Non-Farm Payrolls Report Set To Inspire Major Volatility
Published: 7 Jun at 10 AM
GBP/USD – Trading Higher, 1.5580
After being boosted earlier in the week by a stream of better-than-expected UK economic data the Pound strengthened against the majority of its currency rivals yesterday as the Bank of England left rates and policy unaltered. This morning data has shown that the UK posted a smaller than...
Pound And Euro Close To Month Highs GBP/USD, EUR/USD
Published: 6 Jun at 10 AM
GBP/USD – Trading Higher, 1.5334
Yesterday’s better-than-forecast UK Services PMI pushed the Pound to a four-week high against the US Dollar. Sterling also strengthened against the Euro as investors await the outcome of today’s Bank of England policy meeting and rate decision.
USD/GBP – Trading Lower,...
Turkish Lira Falls As Protests Continue (USD/TRY)
Published: 5 Jun at 5 PM
The Lira has fallen against the US Dollar today as bond yields rose in response to the anti-government protests which have been rocking Turkey for the last five days.
According to some reports, tear gas and water cannons were used by police to disperse demonstrators last night.
A 22 year old man died as a result of injuries sustained at...
Pound Sterling Gains (GBP/USD) While Euro Declines (EUR/USD)
Published: 5 Jun at 10 AM
GBP/USD – Trading Higher, 1.5334
In a week of surprises, the UK posted yet another piece of unexpectedly strong economic data this morning. The latest figures have shown that services PMI climbed to 54.9 in May, considerably better than the advance to 53.1 expected by economist. This news will bolster the Pound in the...
Chinese Yuan Close to 20-Year High (USD/CNY)
Published: 4 Jun at 2 PM
With the Peoples Bank of China strengthening the Yuan’s reference rate to a record the Yuan was able to climb for a second day.
After the central bank raised the Yuan’s reference rate by roughly 0.11 per cent (to a record 6.1735 Yuan per Dollar) the currency achieved 6.1286 against its American rival – just shy of last week’s 20...
Riskier Currencies Rise As US Data Disappoints
Published: 4 Jun at 10 AM
GBP/USD – Trading Higher, 1.5290
The Pound is likely to extend recent gains in the hours ahead as yesterday’s better-than-anticipated manufacturing PMI was followed by today’s construction PMI data, which showed an unexpected return to growth in May. Although economists expected the index to rise to 49.8 it actually...
Krona Gains As IMF Says Currency's Strength Is No Risk
Published: 3 Jun at 11 AM
As the International Monetary Fund asserted that the strength of the Krona posed no real danger to Sweden’s economic recovery, and data was published showing that Swedish PMI climbed in May, the Krona strengthened against its peers.
In recent months concerns have been raised regarding the adverse impact the Krona’s gains have had on...
Pound Sterling, Aussie and Euro Exchange Rates Strengthen, CAD & USD Dip
Published: 3 Jun at 10 AM
GBP/USD – Trading Higher, 1.5262
A far-better-than forecast UK manufacturing PMI result allowed the Pound to post widespread gains this morning. In May the manufacturing index rose from 49.8 to 51.3 – taking the figure above the 50 mark which separates growth from contraction. The result was significantly better than the...