Exchange Rate Forecasts

Following on from last week, the Dollar relinquished much of the earlier gains against the majors on Friday as the advanced estimate of U.S gross domestic product showed that the economy grew at the slowest pace in four years in the first quarter. The report from the Commerce department confirmed an annual growth rate of [...]

The Pound came under renewed pressure against the majors yesterday, dropping 0.5% versus the Dollar to close under the $2.0000 barrier for the first time in a week while Sterling also fell considerably against the Euro. Following another round of seemingly positive economic data, the Pound retraced back towards the major support level at 1.9875 [...]

The negative sentiment surrounding the Dollar continued yesterday as the U.S currency fell to a fresh two-year low versus the Euro and also declined against the Pound despite a positive round of U.S economic data. Recent reports have suggested that the slump in housing has showed few signs of abating as sales of previously owned [...]

The Pound managed to snap a three day losing steak against the Dollar yesterday and closed above the significant support level at $2.0000 despite a reasonably negative report on the UK manufacturing sector as the CBI’s industrial trends survey weakened in April. Elsewhere, the Pound managed to remain fairly strong against the Dollar, gaining 0.2% [...]

The Dollar managed to consolidate against the majors yesterday after last week’s sharp decline as the U.S currency rose 0.2% versus the Euro and a further 0.1% against the Pound, breaking through the major support at the $2.00 level. Despite the apparent lack of economic data released in the States, the U.S currency continued to [...]

Following on from last week, the Pound increased to the highest level versus the Dollar since June 1981 after a string of economic reports showed that UK inflation has accelerated to the fastest pace in a decade, fuelling speculation that the Bank of England will continue raising interest rates in May and beyond. The minutes [...]

The Pound’s recent resolve was tested yesterday as the UK currency fell for the first time in seven days, dropping 0.3% versus the Dollar after achieving a 26-year high earlier this week. A slump in global shares has seemingly prompted investors to unwind UK carry trades, which has sent the Pound trading lower, ending the [...]

Initially, the Pound surged through the resistance level at 2.0105 against the Dollar yesterday morning and rose to its strongest level in more than 25-years following the release of the minutes from the Bank of England’s last policy meeting. The report showed that the nine-strong monetary policy committee voted 7-2 in favour of a ‘no [...]

The Pound surged forward against the Dollar yesterday, rising to the highest level since September 1992 as we breached the $2 barrier for the first time since ‘Black Wednesday’. The move was driven by contrasting inflation data as UK consumer price inflation accelerated to the fastest pace in a decade in March, which means that [...]

The Pound advanced against the Dollar yesterday and closed in on the illusive $2 level as signs of higher UK inflation pushed the Pound to the highest level since “Black Wednesday in September 1992. UK Producer price inflation rose by the most in 11 months in March as companies increased prices with rising inflationary concerns [...]