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 Rewan Tremethick on June 23rd, 2017.
Pound Sterling softened yesterday as markets were awaiting the outcome of Theresa May’s trip to Brussels, during which she was set to deliver her offer on the rights of EU citizens living in the UK. Confederation of British Industry (CBI) data showed that UK industry saw total order volumes grow to a 29-year high in [...] Read more
Posted by Matthew Andrews on June 22nd, 2017.
The Pound Danish Krone (GBP DKK) exchange rate fluctuated today as markets speculated over the outcome of Prime Minister Theresa May’s meeting with EU leaders at a European summit in Brussels. The Pound struggled ahead of the European summit in which Theresa May is set to address EU leaders for the first time since the [...] Read more
Posted by Oliver Meredew on June 22nd, 2017.
The Pound has fallen slightly against the Swiss Franc, remaining in the doldrums as Brexit talks continue. The Pound dipped against the Swiss Franc today as a series of conflicting Bank of England (BoE) statements left GBP in flux. Sterling advanced strongly against the Franc on June 21st when BoE official Andy Haldane surprisingly talked up [...] Read more
Posted by Josh Jeffery on June 22nd, 2017.
The Euro to US Dollar exchange rate tumbled at the beginning of the week due to hawkish comments from New York Federal Reserve President William Dudley. However, EUR/USD has recovered from its lows as 2017 Fed rate hike bets remain below 50%. The pair has slipped from the week’s opening level of 1.1188 and currently [...] Read more
Posted by Josh Ferry Woodard on June 22nd, 2017.
The plot thickens… Sterling surged last week when three Bank of England policymakers voted for higher interest rates, but demand for Sterling slumped on Tuesday when BoE Governor Mark Carney argued against raising rates anytime soon. Following the Governor’s speech investors felt the discussion was settled: no rate hike this year. That was until BoE [...] Read more
Posted by Josh Jeffery on June 21st, 2017.
After falling earlier in the week, the Pound to Japanese Yen exchange rate recovered on Wednesday due to surprisingly hawkish comments from Bank of England (BoE) chief economist Andy Haldane. GBP/JPY still remains below the week’s opening levels at around 141.30, but has recovered from the week’s low-point of 139.88. The Bank of England (BoE) [...] Read more
Posted by Louisa Heath on June 21st, 2017.
While the Pound was boosted by the unexpectedly split Bank of England (BoE) vote on interest rates, the impact of this surprising hawkish development ultimately proved short-lived. Comments from Governor Mark Carney prompted GBP exchange rates to slump on Tuesday, with the policymaker reiterating his view that interest rates will not rise for some time [...] Read more
Posted by Josh Ferry Woodard on June 21st, 2017.
The Pound shed around 1% against most of its major currency peers yesterday as rate hike bets plummeted in response to Bank of England Governor Mark Carney’s delayed Mansion House speech. In an address to the banking community, alongside Chancellor Philip Hammond, Carney said that now was not the time for higher interest rates. Citing [...] Read more
Posted by Oliver Meredew on June 20th, 2017.
The Pound has dropped sharply against the Canadian Dollar today, following a pessimistic statement from Bank of England (BoE) Governor Mark Carney. In the lull before Parliament is officially opened, the Pound has fallen sharply against the Canadian Dollar. The downward lurch has been caused by Carney, who was speaking at a Mansion House event. [...] Read more
Posted by Louisa Heath on June 20th, 2017.
Worries over South Africa’s economic outlook have continued to pressure the Rand, with the second quarter business confidence index plunging sharply. The index dipped from 40 to 29 as domestic sentiment continued to deteriorate. Signs of instability and infighting within the ruling African National Congress (ANC) are keeping business in a more pessimistic mood, particularly [...] Read more