Exchange Rate Forecasts

The Pound rallied for a third consecutive day against the Dollar yesterday, while the UK currency also climbed above 1.0800 versus the Euro as renewed optimism for banking stocks swept through the market after Citigroup Inc recommended buying Lloyds Group Plc shares and eased concerns about the government’s role in rescuing lenders. Despite the dire [...]

The Pound rallied against the Euro for the first time in seven days yesterday, while the UK currency also continued the surprising upside momentum versus the Dollar, rising to a high of $1.4240 in London, as concerns eased about the amount of money required to bailout UK banks. The slump in banking stocks has increased [...]

The Pound recovered some significant gains against the Dollar yesterday, rising from the lowest level since 1985 on Friday to peak just under $1.4000 during the European session amid reports that Barclays Plc won’t need any further capital increases despite fears of nationalisation. Barclay’s share price rose 73% in London, the most in at least [...]

Following on from last week, the Pound posted its biggest weekly drop in three months against the majors after banking stocks plummeted and reports showed that the UK economy contracted by more than preliminary estimates in the fourth quarter to suggest that the recession is worsening. The UK currency slumped to the lowest level against [...]

The Pound has traded to a record low against the Japanese Yen on three separate occasions this week, while the UK currency remained close to a 23-year low versus the Dollar and dropped under 1.0600 against the Euro amid speculation that the worsening economic climate will force the government to nationalise UK banks. The escalating [...]

The worsening economic climate saw the Pound plunge to the lowest level against the Dollar since Margaret Thatcher’s reign as UK Prime Minister, while the UK currency also dropped to another record low versus the Japanese Yen and sank towards 1.0600 against the Euro amid concerns that the government will nationalise UK banks. The Pound [...]

The Pound plummeted against the majors yesterday, dropping under $1.4000 versus the Dollar for the first time since 2001, while the UK currency also declined heavily against the Euro and fell to a record low versus the Japanese Yen after the UK government’s second bank bailout in just three months. The announcement from the UK [...]

The Pound declined against both the Euro and the Dollar yesterday amid speculation that the government’s latest initiative to introduce a second bank rescue package in just three months won’t be sufficient in reviving the ailing UK economy and halting the first recession in 17-years. The UK currency also lost ground against a basket of [...]