Exchange Rate Forecasts

by Adam Solomon Sterling / Euro and US Dollar The Pound re-visited the trend support at 1.2000 versus the Euro yesterday and promptly broke to a low of 1.1953 overnight, as the UK currency lost some of its momentum against the single currency, after rallying to the highest level in 18-months. As we build up [...]

by Adam Solomon Sterling / Euro and US Dollar The Pound rallied to the highest level in one month against the U.S Dollar, briefly trading above $1.48 in London, as global risk appetite continued to improve, with UK stocks rising for a fifth straight day. The improvement in risk sentiment means the Pound is benefiting [...]

by Adam Solomon Sterling / Euro and US Dollar The Pound rallied strongly against the U.S Dollar yesterday, rising up to a one month high of $1.4787, after reports predicting faster economic growth and a narrower budget deficit increased speculation that the Bank of England will have little option but to raise interest rates from [...]

by Adam Solomon Sterling / Euro and US Dollar Following on from last week, the Pound declined against the Euro, losing roughly 1% on Friday and scuppering the weekly advance, after a government report showed UK manufacturing unexpectedly weakened in April. The index of factory output slumped for the first time in three months, fueling [...]

by Adam Solomon Sterling / Euro and US Dollar The positive sentiment surrounding the Pound continued yesterday, as the UK currency approached a fresh 18 month high versus the Euro, prior to the Bank of England interest rate announcement. The Monetary Policy Committee, led by the governor Mervyn King, elected to keep interest rates on [...]

by Adam Solomon Sterling / Euro and US Dollar The Pound found a solid level of support close to $1.44 against the U.S Dollar yesterday and the failure to break below $1.4350 helped improve confidence on technical grounds, as the UK currency closed towards $1.46 last night. Sterling also traded back above 1.21 versus the [...]

by Adam Solomon Sterling / Euro and US Dollar The Pound declined against the Euro yesterday, falling back below 1.21 from the strongest level since November 2008, after Fitch Ratings said that Britain faces a “formidable” fiscal challenge and needs to implement aggressive plans to reduce the record budget deficit. The UK currency extended declines [...]