Exchange Rate Forecasts

The Pound stood firm against the majors yesterday and even made some gains versus the U.S Dollar despite the release of the minutes from the Bank of England’s last policy meeting where the MPC considered a cut in UK interest rates this month. The nine-strong committee actually voted 8-1 in favour of a no change [...]

The Pound was driven lower against both the Euro and the Dollar yesterday, falling 0.3% by the close of trading last night after UK inflation unexpectedly held at the lowest level since March 2006. Consumer prices rose just 1.8% from this stage last year, the same as August and below the Central Bank’s 2.0% target [...]

The Pound continued to make gains against the Dollar yesterday and remained largely unchanged versus the Euro amid reports from the online property site, Rightmove plc, which showed an unexpected rebound in house prices this month. The renewed appetite for the UK currency was severely tested last week as a separate gauge of property prices [...]

The renewed appetite for the Pound looked to continue yesterday as the UK currency managed to consolidate above 2.0400 versus the U.S Dollar but had made modest losses against the Euro as we hovered around the trend support at 1.4420. A recent spate of positive economic reports combined with a particularly hawkish statement from the [...]

In the build-up to the release of the FOMC minutes last night, the renewed appetite for the Dollar saw the U.S currency make further gains against both the Euro and the Pound as Fed policy makers were expected to provide some insight into future policy. Unfortunately the report failed to deliver any sort of cohesive [...]

The renewed appetite for the Dollar continued to gather pace yesterday as a delayed reaction to Friday’s non-farm payrolls report sent the U.S currency higher against both the Euro and the Pound despite the fundamental lack of economic data due to the Columbus Day holiday. The focus today will inevitably fall on the release of [...]

Following on from last week, the U.S dollar posted the biggest weekly gain against the Euro in over a month amid signs that the economy is weathering the housing recession. The monthly U.S employment report showed that payrolls increased by 110,000 in September and revised figures for August showed an unexpected gain, which wiped out [...]

The Pound rallied back above 1.4400 against the Euro yesterday and also made gains versus the Dollar as the Bank of England kept its benchmark interest rate unchanged at a six-year high in the lunchtime announcement. A recent spate of negative economic reports combined with the furore surrounding the Northern Rock fiasco led to some [...]

The Pound declined heavily against the Dollar yesterday and also made moderate losses versus the Euro as a lacklustre performance in the UK service sector has heaped further pressure on the Bank of England to lower interest rates. The recent spate of negative economic reports has painted a worrying picture for the UK economy as [...]

The Dollar came under renewed pressure against the Pound yesterday following a report from the National Association of Realtors, which showed that pending home sales fell an incredible 6.5% in August. The index, based on contracts signed in August, is just the latest example of the overwhelming decline in the U.S property market as lenders [...]