Archived Currency News...
Pound (GBP) Makes Limited Recovery Against Most Majors on Monday
Published: 22 Aug at 1 PM
Pound Sterling (GBP)
The Pound attempted to recover on Monday, and was able to advance across the board by the middle of the day as investors bought it higher after Friday’s plummet.
On Friday, reports were published claiming that anonymous UK government sources had stated that Prime Minister Theresa May was sympathetic towards the case...
RBNZ Rate Cut Inadvertently Boosts Risk Appetite
Published: 11 Aug at 1 PM
A worse-than-expected result from the latest RICS House Price Balance has added to the UK’s economic woes. The index dropped one point further than expected to 5%, thanks to a retrospective downgrade in the previous month’s reading. Credit rating agency Moody’s has further lowered the outlook for the housing market with...
Commodity Dollars Weak on Chinese PMI Contraction, USD Awaits ISM
Published: 1 Aug at 11 AM
Signs of a strong shock to the UK’s economy from the ‘Brexit’ vote have continued to materialise to weaken the British Pound today. The finalised Markit manufacturing PMI for July has been revised lower, with the index cut to 48.2 from earlier estimates of 49.1. The manufacturing index had initially been the only July...
Commodity Bloc (AUD, NZD, CAD) Strengthens Today as ECB Comments Push Down the Euro
Published: 27 Aug at 12 PM
Nationwide Housing Prices for the UK this morning posted a smaller than anticipated contraction, coming in at 3.2% rather than the forecast 3.1%, to offer some encouragement over the state of the domestic economy. In spite of this, and the FTSE 100 rallying once again at opening, Sterling has struggled to make gains against...
Euro Falls Further Out of Favour Today with Renewed Market Slump Weighing on the Pound
Published: 26 Aug at 12 PM
A bit of positive data arrived for the Pound this morning, as the BBA Loans for House Purchase came in slightly stronger than expected to post an increase at 46,033. With the global stock market rout apparently not entirely over though after yesterday’s burst of optimism and resurgence, as the FTSE 100 dropped by 1.5% at the...
Canadian Dollar (CAD) and New Zealand Dollar Gains, US Dollar (USD) Softens
Published: 28 Aug at 1 PM
The Pound (GBP) is firm against the Euro (EUR) which has reached a two week low in the GBP to EUR exchange rate. With a lack of UK data publishing this week and in the beginning of next week, the Pound is left to fluctuate from the results of Eurozone publications. Forex expert Chris Turner stated: ‘The UK calendar is light...
US Dollar (USD) Rally Pause; Euro (EUR) Depreciating; Canadian Dollar (CAD) Flops
Published: 27 Aug at 1 PM
The Pound (GBP) has made some gains versus the US Dollar (USD) on Wednesday, regardless of the disappointing revelation on Tuesday that the British Bankers Association (BBA) approved less mortgages than expected in July. The BBA Loans for Home Purchase figures only attained 42,792 in July, following June’s 43,180. Moreover...
Pound (GBP) Sees Quiet Week of Data; US Dollar (USD) Firm Following Yellen
Published: 26 Aug at 1 PM
In an extremely quiet week by way of UK data releases, the Pound (GBP) is likely to fluctuate in its exchange rates dependent on its counterparts statistics. The Bank of England (BoE) however have released statements claiming that any miscommunication with the public regarding the highly speculated interest rate hikes have been...
US Dollar (USD) Dominates Exchange Rates; Pound (GBP) Softens; Euro (EUR) Firming
Published: 21 Aug at 11 AM
The Pound (GBP) has seen a tricky week with the prospect of a rally shrouding its performance in the first half of the week following slightly more hawkish remarks from the Bank of England, and a split vote from their latest bank rate decision. However, today may see any gains undone in the latter half of the week as UK Retail...
US Dollar (USD) Awaiting Jackson Hole Meeting, ‘Kiwi’ (NZD) Flops, ‘Aussie’ (AUD) Strong
Published: 20 Aug at 11 AM
The Pound (GBP) has gained some strength in the currency market this week, following the remarks from Mark Carney on Sunday regarding interest rate hikes potentially occurring sooner rather than later. The Pound however, is the subject of discussion as debates regarding Scottish independence and currency heat up. Whilst some...
Pound (GBP) Sees Gains from Split BOE Interest Rate Vote; US Dollar (USD) Firm
Published: 20 Aug at 11 AM
The Pound (GBP) is likely to feel the effects of the latest meeting minutes from the Bank of England (BoE) which have shown the first split vote on the prospect of interest rate hikes since July 2011. The meeting minutes released this morning have shown two members of the Monetary Policy Committee were in favour of increasing...
Exchange Rate News: Rand (ZAR) Could Fold, New Zealand Dollar (NZD) Gains After Retail Sales
Published: 14 Aug at 10 AM
The Pound (GBP) has sunk to a disappointing four-month low point in the currency market following yesterday’s Bank of England (BoE) Inflation Report. The report proved anti-climactic after it proved another unanimous vote by the Monetary Policy Committee (MPC) to keep interest rates in the UK the same as they have been since...
‘Aussie’ (AUD) Gains Popularity Versus ‘Kiwi’ (NZD), Canadian Dollar (CAD) Softens
Published: 12 Aug at 11 AM
Tuesday has seen the publication of the British Retail Consortium Like-for-like sales, which have shown a 0.3% drop in July. This came as a disappointment as economists had forecast a rise of 0.9%, a hope of bettering the June -0.8% figure. Wednesday however will prove highly influential for the Pound’s (GBP) exchange rate as...
US Dollar (USD) Strong, ‘Kiwi’ (NZD) Could Benefit From Russia Sanctions
Published: 11 Aug at 10 AM
The Pound (GBP) is presently trading at 1.6781 versus the US Dollar (USD), after slumping in recent weeks with poor UK economic figures. Moreover the US Dollar has sprung to popularity recently when the Federal Reserve became more hawkish in their remarks regarding interest rate hikes. The UK interest rate rises are still under...
US Dollar (USD) Bullish; Euro (EUR) Precarious; ‘Aussie’ (AUD) Slumps
Published: 8 Aug at 11 AM
The Pound (GBP) is presently trading up versus the US Dollar (USD) at 1.6819, and against the Euro (EUR) at 1.2554. Friday will see the publication of UK Construction Output and Trade Balance figures, which are forecast to prove favourable. The first half of next week will be quiet by way of UK data publishing; however,...
Pound (GBP) Awaits BoE Meeting; Euro (EUR) Softens; Sanctions May Affect ‘Buck’(USD)
Published: 7 Aug at 1 PM
Thursday will see the Bank of England (BoE) Asset Purchase Target and Interest Rate Decision announced, which the currency market eagerly anticipates to assess the strength of Sterling. Much speculation presently surrounds the UK economy and its feasibility to withstand interest rate hikes. The Pound (GBP) has flopped in recent...
US Dollar (USD) Gaining, ‘Kiwi’ (NZD) Flops, Pound (GBP) Softens, Eurozone Disappoints
Published: 6 Aug at 11 AM
The Pound (GBP) has fallen against the US Dollar (USD) following UK Shop Price data which showed a steeper decline than anticipated on Wednesday. The Shop Price Index is used as an indication for inflation pressures and fell by -1.9% year-on-year, exceeding forecasts of a -1.6% decline. Wednesday will also see the publication...
Australian Dollar (AUD) Firms, Rand (ZAR) Declines, UK Economy has More Slack
Published: 5 Aug at 12 PM
Tuesday has seen the publication of highly influential former official, David Blanchflower’s, most recent paper claiming that the Bank of England (BoE) are failing to acknowledge the amount of slack left in the UK economy. Bloomberg stated Blanchflower’s suggestion: ‘The Bank of England is underestimating the amount of...
Euro (EUR) and Pound (GBP) Await Central Bank Meetings Thursday; ‘Buck’ (USD) Firm
Published: 4 Aug at 12 PM
The Pound (GBP) has entered its fourth week of depreciation versus the firming US Dollar (USD), presently trading at 1.6825. Monday will see the release of UK Construction PMI, presently forecast to reach 62.0. Thursday however will be the most influential day for the Pound this week with the Bank of England (BoE) meeting to...
Federal Reserve speculation returns
Published: 30 Aug at 10 AM
The Pound recovered the losses it made against the US Dollar after the latest consumer confidence and house price data beat economist expectations. As a result Sterling is on track to make a monthly gain against all 16 of its major peers. Adding to the currency’s strength the British Chamber of Commerce raised its...
Canadian Dollar to US Dollar (CAD/USD) Exchange Rate – ‘Loonie’ falls on strong US data
Published: 29 Aug at 4 PM
The Canadian Dollar has weakened against the US Dollar after data out of the USA showed that economic growth in the world’s largest economy accelerated at a faster pace than forecast in the second quarter of the year.
The USA’s GDP expanded at an annual rate of 2.5% beating economist forecasts and increasing speculation that the...
Send Money News: Emerging Markets Recover as Syria Tensions Ease
Published: 29 Aug at 10 AM
The Pound made a second day of gains against the Euro following yesterday’s speech to business leaders in Nottingham by Bank of England Governor Mark Carney’s. His comments failed to convince investors that the Central Bank will maintain interest rates at the current record lows. As a result the currency managed to...
Indian Rupee plummets to new record low INR/USD
Published: 28 Aug at 3 PM
The Indian Rupee has spent most of Wednesday’s session battling to avoid falling further against the US Dollar after it fell by its biggest margin in two decades as oil prices surged and the threat of conflict in the Middle East spooked investors.
Economists are warning that if the Rupee does not halt its slide soon then India is...
Drums of war continue to bolster safe havens
Published: 28 Aug at 10 AM
The Pound began the day weaker against both the US Dollar and Euro as investors waited to see whether Bank of England Governor Mark Carney would affirm his commitment to maintaining borrowing costs at record lows in a speech due later in the session. The currency has also been weighed upon by growing concerns that military...
Turkish Lira TRY/USD falls to all-time low on Syrian tensions
Published: 27 Aug at 3 PM
The Turkish Lira has fallen to a record low of 2 to the US Dollar after speculation grows that Turkey may join a United States led coalition that is preparing to strike at Syria.
As a result of the rumours the Lira nosedived against the US Dollar, the lowest level record since 1981. Turkey is expected to join forces with a number of other...
US Dollar higher on safe-haven demand
Published: 27 Aug at 10 AM
The Pound has softened against the Euro and US Dollar in early trading. Sterling lost ground against the ‘Greenback’ as speculation continues to build that the Federal Reserve could begin tapering its monetary easing policy in September. The Euro gained ground after this morning’s data showed further signs of...
US Dollar Declines (USD/CAD, USD/EUR, USD/GBP) On Poor Housing Data
Published: 23 Aug at 5 PM
After the minutes of the latest Federal Open Market Committee meeting were published on Wednesday and showed that the majority of policy makers were backing the plan to begin tapering easing before the end of the year, the US Dollar broadly strengthened, advancing on peers including the Yen and Euro.
The North American currency extended...
Positive Outlook for GBP/EUR As UK GDP Beats Estimates
Published: 23 Aug at 10 AM
GBP/EUR – Trading in the Region of 1.1698
Although the Pound began the day heading for a five-day decline against the Euro and US Dollar, the British currency is likely to strengthen in the hours ahead as UK GDP and export data exceeded expectations. Economists were anticipating growth of 0.6 per cent in the second quarter...
Norwegian Krone At Nine Year Low, US Dollar Bullish
Published: 22 Aug at 4 PM
With interest rate concerns heating up in both Sweden and Norway, the Nordic country’s currencies have clashed.
During European trading the Norwegian Krone sank to an almost nine-year low against its Swedish rival, weakening to 1.0712 Swedish Krona.
The last time the NOK/SEK pairing was at this level was in the spring of 2004....
Fed Minutes Shake Things Up - USD Broadly Strengthens
Published: 22 Aug at 10 AM
GBP/EUR – Trading in the Region of 1.1698
Ahead of tomorrow’s UK GDP report Sterling lost ground against the US Dollar and Euro as both assets were supported by home grown developments. The Pound could continue softening against these peers in the hours ahead if this afternoon’s US data meets expectations.
Mexico's Peso Climbs (USD/MXN) And Rupee Stages Modest Rebound (USD/INR)
Published: 21 Aug at 11 AM
As lower-than-anticipated domestic growth increased the likelihood of the Mexican central bank cutting interest rates the Peso advanced on its US peer, surging 0.8 per cent to 12.9745 Peso per Dollar.
The 1.5 per cent gain in Mexican GDP in the second quarter was smaller than economists envisaged.
The data was swiftly followed by the...
Fed Minutes To Cause Notable GBP/USD EUR/USD Movement
Published: 21 Aug at 10 AM
GBP/EUR – Trading in the Region of 1.1690
In a relatively quiet news day, UK public sector net borrowing figures are likely to be the main driver of GBP/EUR movement in the hours ahead, but US news is likely to inspire extensive market movement overnight.
USD/EUR – Trading in the Region of 0.7468
Fed Speculation And Thai Recession See Baht Hit 12-Month Low
Published: 20 Aug at 12 PM
Ahead of the release of policy meeting minutes from the most recent Federal Open Market Committee gathering, emerging market currencies like the Rupee, Rand and Baht are bearing the brunt of some significant shifts in sentiment.
With some economists expecting the FOMC minutes to confirm that the tapering of US easing will begin in...
GBP/USD Close To Two-Month High, GBP/AUD And GBP/NZD Surge
Published: 20 Aug at 10 AM
GBP/EUR – Trading in the Region of 1.1736
As the local session began the Pound was trading close to a two-month high against the US Dollar. The British currency posted significant gains against the New Zealand and Australian Dollars overnight, but further Sterling fluctuations may be limited due to a lack of pertinent...
Rupee And Lira Hit Historic Lows (USD/INR) (EUR/TRY)
Published: 19 Aug at 3 PM
In what is becoming a recurring theme, the Rupee tumbled to yet another record low against the US Dollar during local trading.
The emerging-market asset continues to bear the brunt of ongoing speculation regarding the Federal Reserve tapering stimulus in September, and the Reserve Bank of India’s best efforts to temper volatility appear...
Sterling (GBP) Retains Gains, Euro (EUR/USD) Close To Week High
Published: 19 Aug at 10 AM
GBP/EUR – Trading in the Region of 1.1729
The Pound is maintaining its bullish relationship against peers including the Euro and US Dollar today, despite a report detailing an unexpected decline in UK home prices. Sterling remains supported by last week’s positive UK developments and is likely to continue trading in a...
Emerging Market Currencies Like The Rupee And Baht Decline
Published: 16 Aug at 5 PM
India’s Rupee sank to a fresh record low against the US Dollar today as concerns rose that the steps taken by the Reserve Bank of India to curb the currency’s volatility will damage the nation’s appeal to investors.
Earlier this week the central bank outlined plans to restrict foreign-currency outflows from local residents and...
Pound Headed For 5-Day Gain Against Euro And Dollar GBP/EUR GBP/USD
Published: 16 Aug at 10 AM
GBP/EUR – Trading in the Region of 1.1712
After a positive week for the UK the Pound is headed for its second consecutive five-day gain against the Euro and US Dollar. Sterling has advanced this week in response to several pieces of positive UK news, including retail sales and employment data. Pound fluctuations may occur...
US Dollar (USD) And Pound (GBP) Bullish As Domestic News Beats Forecasts
Published: 15 Aug at 5 PM
The US Dollar advanced on peers including the Euro, Canadian Dollar and Indian Rupee during the North American session after being boosted by the news that US jobless claims dropped to their lowest level since 2007 – fuelling speculation that the Federal Reserve will opt to taper stimulus in the near future.
The cost of living in the US...
Pound (GBP) Could Climb If Retail Sales Impress, Kiwi (NZD) Bullish
Published: 15 Aug at 10 AM
GBP/EUR – Trading in the Region of 1.1690
The expectation of a positive UK retail sales report supported the Pound against the Euro and US Dollar as European trading got underway. If sales rise for a third month, as forecast, Sterling’s upward momentum is likely to continue.
USD/EUR – Trading in the...
Better-Than-Expected Eurozone Growth Data Sees Swiss Franc Fall (EUR/CHF)
Published: 14 Aug at 1 PM
During the European session Switzerland’s Franc declined against the majority of its most traded currency rivals, notably softening to a month-low against the Euro after data revealed that the Eurozone had finally exited its record long recession.
The 17-nation currency bloc posted quarter-on-quarter growth of 0.3 per cent in the...
Eurozone Growth Data And UK Employment Reports To Inspire Exchange Rate Movement
Published: 14 Aug at 10 AM
GBP/EUR – Trading in the Region of 1.1639
While the Pound was supported yesterday by positive UK news, the British currency softened modestly against the Euro this morning as the German economy recorded larger-than-expected growth. Sterling volatility is likely to occur in response to UK employment figures and the Bank of...
Russia’s Ruble Tumbles To Four-Year Low, Sweden's Krona Climbs
Published: 13 Aug at 12 PM
Bank Rossii’s decision to move its trading band higher once more saw the Ruble weaken against the Euro-Dollar basket and hit 37.9613 – almost a four year low.
The corridor for the Ruble against the basket was increased to 31.95-38.95 yesterday. This is the sixth time the central bank has upped its trading band since the end of June,...
US Retail Sales, UK Inflation And German Economic Sentiment Today's Key Data
Published: 13 Aug at 10 AM
GBP/EUR – Trading in the Region of 1.1635
After a gauge of UK house prices surged to an almost seven-year high the Pound climbed to within touching distance of a month-high against the Euro. Whether the British currency is able to retain or extend recent gains largely depends on the outcome of today’s UK inflation...
US Dollar (USD) Advances On Peers Due To Retail Sales Speculation
Published: 12 Aug at 4 PM
With UK mortgage approvals improving in June and tomorrow’s home price data expected to show prices at a three year high, the Pound advanced on the Euro.
According to the Council of Mortgage Lenders the number of UK home loans was up 15.7 per cent in June from a year earlier.
Sterling strengthened to 85.86 pence per Euro. The British...
Pound (GBP) And Aussie (AUD) Begin the Week Stronger
Published: 12 Aug at 10 AM
GBP/EUR – Trading in the Region of 1.1626
Sterling put in a solid performance last week and could extend gains in the days ahead if UK data continues to trump expectations. Pound movement may be limited today due to a lack of influential domestic data, but tomorrow’s UK home price gauge is expected to trigger...
Commodity-Driven And Emerging Market Currencies Climb
Published: 9 Aug at 4 PM
Commodity-driven and emerging market currencies have ended the week on a bit of a high as positive trade and industrial output data from China (the world’s second largest economy) spurred demand for higher risk assets.
Thailand’s Baht rebounded from a month low against the US Dollar, strengthening to 31.23.
The Asian currency was...
Aussie (AUD) Pound (GBP) And Kiwi (NZD) All Post Notable 5-Day Gains
Published: 9 Aug at 10 AM
GBP/EUR – Trading in the Region of 1.1617
Prior to the release of UK construction output and trade balance figures the Pound was in line to record a 5-day gain against the US Dollar and Euro. The currency could experience fluctuations in the hours ahead.
USD/EUR – Trading in the Region of 0.7475
Chinese Data Boosts Baht And Aussie, Franc And Rand Soften On Domestic Concerns
Published: 8 Aug at 4 PM
Thailand’s Baht was able to achieve an almost four-week high against the US Dollar after appetite for higher-risk assets was boosted by better-than-forecast import/export data from China.
China is one of Thailand’s biggest trading partners and the world’s second largest economy, so the news helped the Baht rebound from yesterday’s...
Pound (GBP/USD) And Euro (EUR/USD) Approach Seven-Week Highs
Published: 8 Aug at 10 AM
GBP/EUR – Trading in the Region of 1.1600
After the Bank of England published its inflation report the Pound recovered from a brief dip and surged against its main rivals. As the European session began Sterling was heading for a seven-week high against the US Dollar and trading close to a month-high against the Euro....
Yuan Reaches for 20-Year High (USD/CNY) Pound Gains, Rupee Climbs
Published: 7 Aug at 1 PM
Over the last eight months the Yuan has advanced by 1.8 per cent against the US Dollar. Today, with the People’s Bank of China supporting the Yuan’s reference rate, the currency achieved an almost twenty-year high against its American counterpart.
The Chinese asset was also boosted by mounting speculation regarding the government’s...
BoE Inflation Report Key to GBP/EUR GBP/USD Movement
Published: 7 Aug at 10 AM
GBP/EUR – Trading in the Region of 1.1524
Although Sterling was able to climb against its peers yesterday in reaction to better-than-expected UK housing and industrial production data, the British currency weakened against the US Dollar and Euro as investors speculate on the outcome of today’s Bank of England inflation...
Rupee At Fresh Record Low (USD/INR) While Lira Strengthens (USD/TRY)
Published: 6 Aug at 2 PM
Although the Rupee was able to post a modest advance against the US Dollar at the beginning of the week (as the North American currency softened in response to disappointing employment figures) over the course of trade on Tuesday the Rupee sank to a fresh record low.
India’s asset fell to a historic low of 61.80 against the US Dollar,...
Pound (GBP) Boosted, Euro (EUR) Close To 7-Week High, Aussie (AUD) Rebounds
Published: 6 Aug at 10 AM
GBP/EUR – Trading in the Region of 1.1572
Sterling could extend gains today if UK industrial production data meets or exceeds estimates for an increase of 0.7 per cent in May. Already today a report has shown that UK house prices climbed for a sixth month in July.
USD/EUR – Trading in the Region of...
Peso (MXN) Rupee (INR) Pound (GBP) And Krona Climb
Published: 5 Aug at 3 PM
After all the steps taken by the Reserve Bank of India to temper the Rupee’s volatility it was actually US data which helped the currency post its most significant advance in two-weeks.
On Friday US data showed that the world’s largest economy added less jobs than forecast in July, although the nation’s unemployment rate did decline...
US Dollar Weaker, Pound Boosted By Positive UK Data, Euro Fluctuations Likely
Published: 5 Aug at 10 AM
GBP/EUR – Trading in the Region of 1.1521
As the European session got underway the Pound continued to edge away from last week’s lows against the Euro and US Dollar. Sterling received another boost as trade continued and UK services PMI smashed estimates, coming in at 60.2 in July rather than the 57.4 expected.
US Dollar Falls Against GBP, EUR, CAD And JPY On Disappointing Employment Data
Published: 2 Aug at 4 PM
Today’s US employment data has been a driving force behind market movement for the last 24 hours.
Prior to the publication of US non-farm payrolls and the US unemployment rate the ‘Greenback’ was trading strongly against the majority of its currency rivals.
Economists predicted that the US economy added 185,000 jobs in July,...
GBP, EUR, AUD And CAD Movement Expected In The Wake Of US Employment Data
Published: 2 Aug at 10 AM
GBP/EUR – Trading in the Region of 1.1448
Following yesterday’s Bank of England rate decision, the Pound recovered some ground against peers including the US Dollar and Euro. The British currency began the European session holding steady prior to the release of UK construction PMI but could advance in the hours ahead as...
Euro (EUR) Falls While Pound (GBP) Gains Following Central Bank Rate Decision
Published: 1 Aug at 4 PM
In a full-on news day the fortunes of the Euro and Pound have reversed, with the Euro falling from its four and a half month high against its British counterpart and Sterling broadly strengthening.
The Euro also fell from a six-week high against the US Dollar as the European Central Bank maintained rates at their current record lows, and...
Euro (EUR) And Pound (GBP) Weaken Ahead of ECB and BOE Rate Decisions
Published: 1 Aug at 10 AM
GBP/EUR – Trading in the Region of 1.1444
Positive Euro news saw the common currency broadly strengthen yesterday, and the Pound slumped to a four and a half month low against its European peer. However, the Pound was able to strengthen slightly against the US Dollar following the FOMC announcement.Today’s Bank of...