TorFX market updates provide analysis of various exchange rates in order to keep our clients up-to-date with the latest currency news.
By keeping our clients informed, we can enable them to take full advantage of the foreign exchange rate trends, helping them to achieve the maximun return when they decide to trade their chosen currency.
Posted by Oliver Meredew on March 22nd, 2017.
The Pound has dropped by -0.4% against the Norwegian Krone as GBP began to give up the gains recorded following the news that UK inflation had risen from 1.8% to 2.3% in February. Krone movement recently has largely been dictated by the price of Brent crude oil, which has continued tumbling since the start of March. [...] Read more
Posted by Louisa Heath on March 22nd, 2017.
Demand for the Pound surged in the wake of the Bank of England’s (BoE) interest rate decision, with policymakers unexpectedly split on the matter. Known hawk Kristin Forbes voted for an immediate 25bpt rate hike, raising hopes that the Bank could shift from its neutral outlook sooner than anticipated. This optimistic view was cemented by [...] Read more
Posted by Josh Ferry Woodard on March 22nd, 2017.
UK inflation jumped from 1.8% to 2.3% in February, it was announced yesterday, beating forecasts of 2.1% and rising above the Bank of England’s 2.0% target for the first time since late 2013. The Pound jumped on the news, with investors increasing their bets of an interest rate hike from the Bank of England. Food [...] Read more
Posted by Matthew Andrews on March 21st, 2017.
The Pound to Japanese Yen (GBP JPY) exchange rate spiked on Tuesday following the release of impressive inflation figures from the UK. GBP JPY currently sits around 140.20 following the release of the inflation data, up from around 139.18 at the start of the day’s session. The Pound jumped against the Japanese Yen this morning [...] Read more
Posted by Louisa Heath on March 21st, 2017.
January’s South African production figures showed a general improvement, on the whole recovering from the contraction seen at the end of 2016. This encouraged investors to pile back into the Rand, particularly as the general appeal of higher-yielding assets picked up. Even though the domestic political situation remains volatile and the underlying fundamentals of the [...] Read more
Posted by Josh Jeffery on March 21st, 2017.
The Pound to Australian Dollar exchange rate recovered from its earlier dip on Tuesday as investors piled into the British currency after the day’s impressive UK inflation stats. The pairing recovered from 1.59 to 1.61. Sterling rebounded from its lows against the Australian Dollar as demand for the ‘Aussie’ weakened. GBP/AUD went on to extend [...] Read more
Posted by Josh Ferry Woodard on March 21st, 2017.
The Pound registered gains versus some of the majors at the beginning of this week’s session thanks to the recent shift in Bank of England rhetoric towards a potential rate hike at some point in 2017. Indeed, this time last week traders estimated there was a 25% chance of rate rise in November 2017, whereas [...] Read more
Posted by Oliver Meredew on March 20th, 2017.
The Pound has dropped heavily against the Turkish Lira today, as continuing weakness in the US elevates demand for higher-risk currencies. Last week saw the Pound gradually edge lower against the Lira, with that trend continuing as markets reopened following the weekend. The Pound was in a general state of decline on Monday following the news [...] Read more
Posted by Matthew Andrews on March 20th, 2017.
The Pound to Indian Rupee (GBP INR) exchange rate slumped this afternoon as Prime Minister Theresa May announced that she will trigger Article 50 next Wednesday, effectively beginning the Brexit process and starting two years of negotiations. The GBP INR rate fell to 80.95 following the announcement, down from a high of 81.22 earlier in [...] Read more
Posted by Louisa Heath on March 20th, 2017.
After the government’s Article 50 bill received parliamentary approval, passing without amendment, the GBP NZD exchange rate weakened. While the move eliminated some of the uncertainty surrounding Theresa May’s Brexit timetable, Sterling was weighed down by worries over the potential outcome of negotiations. Scottish First Minister Nicola Sturgeon was quick to call for a second [...] Read more