Exchange Rate Forecasts

The Pound continued its downward slide against the majors yesterday, edging closer towards the lowest level on record versus the Euro while the U.K currency also slipped under the support at 1.8300 against the Dollar following the release of the Nationwide housing survey. UK house prices fell at the fastest annual pace since the first [...]

The Pound declined to the lowest level in almost three months against the Euro yesterday, dropping through the support at 1.2500 by the close of trading last night, amid speculation that the escalating slump in the housing sector will force the Bank of England to cut interest rates. The UK currency also plunged to a [...]

The Pound slipped below 1.8400 against the Dollar last night and the UK currency looks poised for a further dip towards the support at 1.8300 amid speculation of U.S interest rate increase over the coming months. The Pound also remained subdued against the Euro yesterday and also registered losses versus a basket of currencies as [...]

Following on from last week, the Pound revisited the significant support level at 1.2500 versus the Euro while the UK currency also recorded a fresh 22-month low against the U.S Dollar amid suggestions that the economy is edging closer towards a recession while projected drop in consumer prices will lead to an interest rate cut [...]

The Pound fell against the Euro yesterday after a report from the Office of National Statistics showed that UK retail sales rose by the weakest annual rate in 17 months, strengthening the case for a reduction in borrowing costs. The UK currency staged a brief rally against the majors in the aftermath of the report [...]

The Pound continued its slide against the Dollar yesterday and also remained under pressure versus the Euro following the release of the minutes from the Bank of England’s last policy meeting, which showed that the MPC was again split three ways on UK interest rates. The Governor of the BoE, Mervyn King, along with six [...]

The Pound resumed its downward momentum against the Dollar yesterday and also recorded losses versus the Euro after Bank of England policy maker Timothy Besley, who was the sole voice for an increase in UK interest rates last month, said that inflation will retreat by the end of next year. The Pound has extended its [...]

The Pound struggled to break above 1.2700 versus the Euro yesterday while the UK currency also consolidated near a two year low against the Dollar after a report from Rightmove Plc showed that house prices slumped to record the biggest annual decline since the survey began in 2002. The average asking price for a home [...]

Following on from last week, the Pound declined for eleven consecutive trading days against the Dollar to record the longest run of losses in at least 37-years amid speculation that an impending recession will force the Bank of England to cut interest rates from the current 5.0%. The UK currency posted its fourth weekly drop [...]

The overwhelming decline in Sterling sentiment continued yesterday as the UK currency plunged to a fresh 22-month low against the Dollar, falling through the support at 1.8836 to a low of 1.8646 by the close of the European session following the release of the Bank of England’s quarterly inflation report. The Pound also recorded heavy [...]