Exchange Rate Forecasts

The Pound made robust gains against the majors yesterday, firming an additional 0.5% versus the Euro to peak at 1.4970, the highest point since June 2005, while against the Dollar, Sterling advanced beyond the resistance level at 1.9000 following a particularly strong report on the UK housing market. Recent surveys from Halifax and Nationwide has [...]

Following on from last week, the Dollar came under intense pressure against the majors as we trade back up towards 1.9000 against the Pound after the Federal Reserve elected to hold U.S interest rates at 5.25% for the fourth month in succession. The no change in policy for the month of October was widely anticipated [...]

The Dollar lost ground against the majors last night as the Federal Reserve elected to hold U.S interest rates at 5.25% for the third consecutive month, which was widely anticipated although the tone of the accompanying statement didn’t match investor’s expectations. Following a host of hawkish rhetoric from Fed officials over the past month and [...]

The Pound has been making steady gains against the majors in recent weeks but following a report from the Confederation of British Industry yesterday, Sterling eased 0.1% against the Dollar and the Euro. The CBI industrial trends survey, which provides a good insight into UK manufacturing activity, came in weaker than expected and the report [...]

The Dollar advanced yesterday, firming 0.7% against the Pound and a further 0.5% versus the Euro despite the apparent lack of any significant economic data released in the States as falling oil prices may boost growth in the U.S economy going into the final quarter of the year. Ahead of the FOMC rate announcement tomorrow, [...]

Following on from last week, the Pound remained strong against the majors after a preliminary report on UK GDP showed that the economy grew at a faster pace than expected in the third quarter led by growth in the service industries and manufacturing sector. Economic growth has increased at the fastest pace in three years [...]

The Pound declined against the majors yesterday following a worse-than-expected report on UK retail Sales, which fell for the first time in eight months for September led by a dramatic fall in petrol prices and rising unemployment. Retail sales accounts for over a third of UK consumer spending, which fell 0.4% last month despite forecasters [...]

The Pound declined yesterday, dropping 0.2% against the Dollar following the release of the minutes from the Bank of England’s last monetary policy meeting where the MPC elected to hold interest rates at 4.75% for the second month in a row. However, with UK inflation still above the Central Bank’s 2.0% target, two members out [...]

The Pound continued to make gains yesterday, firming 0.5% against the Dollar at a one-week high and a further 0.4% versus the Euro to breach the 1.4900 barrier following a glut of economic data on both sides of the Atlantic. The Pound rallied after a report on consumer price inflation supported the view that the [...]

The Pound received a timely boost yesterday, firming 0.2% against the Dollar and the Euro following a report on the UK housing market, which showed robust growth in the sector with prices jumping 2.0% on the month in October,. bringing the annual growth rate to a 22-month high. According to the Rightmove house price index, [...]