Exchange Rate Forecasts

The Pound declined heavily against the majors yesterday, dropping towards 1.1150 versus the Euro and under the 38.2% Fibonacci retracement level at 1.1277, while the UK currency also registered sharp losses versus the Dollar, falling to a low of $1.4401 on the session amid speculation that the Bank of England will cut to near zero [...]

The Pound rallied for a fifth straight day against the Dollar yesterday, rising to a high of $1.4985 on the session, while the UK currency also held on to the recent gains made versus the Euro amid speculation that the Bank of England’s quarterly inflation report will show a slight upturn in consumer prices, reducing [...]

Following on from last week, the Pound advanced against the Euro for the second week in succession, rising to a high of 1.1540 on Friday, amid suggestions that UK interest rate cuts will help bring the economy out of a recession faster than the rest of Europe, while the UK currency also strengthened against a [...]

The Pound made substantial gains against the majors yesterday, rising above the 38.2% Fibonacci retracement level at 1.1277 versus the Euro for the first this year, while the UK currency also advanced against the Dollar after the Bank of England cut interest rates to a new historic low and appear to be coming to the [...]

The Pound rallied against the Euro yesterday to find strong resistance at the 38.2% Fibonacci retracement level at 1.1277, while the UK currency also made strong gains against a basket of currencies, including the U.S Dollar after a government report showed that UK service industries contracted by less than expected in January. An index based [...]

The Pound continued to decline against the Euro for a second day yesterday, while the UK currency also slipped against the Swiss Franc and Australian Dollar amid speculation that UK economic data released this week will add to recent evidence that the economy is slipping deeper into a recession. The Nationwide house price index will [...]

The Pound’s rally against the majors came to an abrupt end yesterday as the UK currency declined for the first time in six days against the Dollar and fell by the most versus the Euro since December after Barclays Plc’s credit rating was severely lowered, while investors sold Sterling in anticipation of another cut in [...]