Exchange Rate Forecasts

The relentless decline of the Pound has seen the UK currency fall 11% against the Euro since mid August and also plummet to a near 1-year low versus the Dollar as speculation continues to build that the Bank of England will cut interest rates in February. Nevertheless, the Pound consolidated on the recent gains made [...]

The recent revival in Sterling sentiment continued yesterday as the UK currency rallied against almost all of the 16 most actively traded currencies amid a distinct lack of economic data that failed to provide any further indication on the probability of an interest rate cut next month. The Pound has also found support in the [...]

The Pound was actually one of the few currencies that rallied against the U.S Dollar yesterday while also making modest gains versus the Euro following reports that UK inflation held above the Bank of England’s 2% target for a third consecutive month in December. Consumer prices unexpectedly rose 2.1% from a year earlier, which was [...]

The negative sentiment surrounding the Pound continued yesterday as the UK currency plummeted to fresh record lows against the Euro while also consolidating around 1.9550 versus the U.S Dollar despite a surprisingly strong report on factory-gate inflation. UK factories increased prices at the fastest annual pace since 1991 last month as output prices increased 5% [...]

Following on from last week, the Pound plummeted to a fresh record low against the Euro and also declined to the lowest level in almost a year versus the Dollar as the Bank of England decided to leave UK interest rates on hold at 5.50%. In the build-up to the announcement there was widespread speculation [...]

The Pound fell to a fresh record low against the Euro last night and to the lowest level in nearly a year versus the Dollar despite the Bank of England’s decision to leave UK interest rates unchanged at 5.50%. In the build up to the monthly announcement there was intense speculation surrounding a back-to-back rate [...]

The Pound has endured a torrid time in recent weeks and yesterday was no exception as the UK currency plummeted to a fresh record low against the Euro while consolidating under 1.9600 versus the U.S Dollar. The unrelenting downside momentum surrounding Sterling is geared towards today’s Bank of England interest rate announcement where the monetary [...]

The Pound tumbled against the Dollar yesterday, touching a fresh five month low against the U.S currency while also snapping three days of consecutive gains versus the Euro following reports that UK consumer confidence fell to the lowest level in 10 months. As a result, the Pound weakened against 15 out of the 16 most [...]

Despite making modest gains against the majors on Friday, the Pound resumed the downward momentum this morning and plummeted to a five-month low versus the U.S Dollar after the Prime Minister, Gordon Brown, said the economy faces “tough decisions” in 2008. In a statement to Sky News, Brown said that he wants to “control inflation [...]

Following on from last week, the Pound came under real pressure over the festive period, falling to the lowest level on record against the Euro and crashing to a four month low versus the Dollar as the outlook for the UK economy soured and speculation intensified over an impending rate cut. However, the Pound snapped [...]