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British Pound Sterling

British Pound Sterling Daily Market Updates with latest GBP exchange rates, charts and rate changes in the major GBP cross currency pairs for day, week and quarter periods. This allows you to take advantage of any market moves as well as the low margins from our online currency and foreign payment partners to ensure you get the best possible exchange rates deals.

“I Can’t Get No Dollar Traction”

This morning’s US healthcare vote, strong Eurozone Manufacturing PMI data and a pending US Durable Goods report left traders in overnight markets singing “I can’t get no dollar traction.” Asia opened with Kiwi getting spanked on a weaker-than-expected New Zealand Trade report. (Actual    -18 million vs. forecast $16 million) NZDUSD fell from 0.7034 to 0.6997 in Asia but edged back to 0.7014 by the New York open. View article >

Pound Rallies After Upbeat Retail Sales


GBP/USD 1 Week Chart
The Pound (GBP) strengthened against most of its peers yesterday as markets reacted positively to the UK’s latest retail sales data. The ONS reported that sales leapt from -0.5% to 1.4% in February, sailing past initial expectations of 0.4% growth and suggesting consumers were still willing to spend despite rising inflation. However, Sterling softened overnight against some of the majors as economists warned that first quarter growth would still be negatively affected by lacklustre sales at the start of the year. View article >

Traders Cautious ahead of US Healthcare Debate

It is a pivotal moment in the Donald Trump presidency, or so says the conventional wisdom. The US dollar has been under enormous pressure on speculation that if President Trump can’t implement their version of a health-care bill, Trump won’t be able to pass anything else, including his tax cut package. The vote could be today. If it passes, the US dollar will rally.  View article >

Pound Steady as Markets Brace for Brexit


GBP/USD 1 Week Chart
The Pound stabilised against the majority of its peers yesterday as markets begin to limit movements ahead of the start of Brexit next week. Investors remain dovish in advance of Theresa May triggering Article 50 on Wednesday as the following two years of negotiations will create a great deal of market uncertainty. However Sterling was able to strike higher this morning following the release of the UK’s latest retail figures for February, which clocked in at 3.7% on the year instead of 2.6% as forecast. View article >

US Political Questions Scuttle Greenback

Questions as to whether President Trump can deliver on his election promises of tax cuts and infrastructure spending have unnerved equity markets. Global equity indices followed US equity indices lower in Asia and in Europe and that weakness drove USDJPY down to levels last seen on November 22. Tuesday’s USDJPY sell-off in New York extended throughout the entire overnight session, helped by a better than expected Japan Trade report.  View article >

GBP up on EUR, USD, AUD as UK Inflation Rises


GBP/USD 1 Week Chart
The Pound (GBP) rallied against its peers on Tuesday as markets reacted favourably to the UK’s latest inflation figures. Data released by the ONS showed that the inflation rate leapt from 1.8% to 2.3% in February, outpacing forecasts it would rise to 2.1% and striking its highest levels since September 2013. The jump prompted speculation that the Bank of England (BoE) will be forced to raise interest rates to prevent inflation from rising further. View article >

Dollar Lower Across the Board

The US dollar is on the defensive as the New York session starts.  Better than expected UK inflation data and a strong performance by French centrist candidate Emmanuel Macron in a TV debate. lifted sterling and Euro, respectively. In Asia, the RBA minutes pointed out pitfalls from the housing market and rising personal debt which drove AUDUSD down from 07737 to 0.7698. View article >

Pound Softens as Brexit Date Announced


GBP/USD 1 Week Chart
The Pound (GBP) tumbled against the other majors yesterday as Prime Minister Theresa May announced that she would trigger Article 50 next Wednesday. The slump suggests that Brexit has not been completely priced into Sterling, with markets still having concerns over the uncertainty that Britain’s split from the EU will bring. However the Pound could mount a recovery later this morning as economists expect February’s CPI figures to surge, with the UK’s inflation rate forecast to jump from 1.8% to 2.1%. View article >

G20 Waters Down Free Trade

The G20 handed President Trump a minor victory and failed to include the usual pledge to keep global trade free and open.  Score “1” for the Donald. Asia markets were not overly impressed with the omission and kept the US dollar on the defensive, a carry-forward action from last week. The fact that Japan was closed for Vernal Equinox Day probably exaggerated the impact although FX ranges were fairly narrow. View article >

Pound’s Early Losses Reversed by Rate Hike Speculation


GBP/USD 1 Week Chart
An early morning slump in the Pound (GBP) was reversed this morning as markets began to speculate on the possibility of the Bank of England raising interest rates earlier than expected. The dissent of policymaker Kristin Forbes in last week’s policy meeting and expectations that inflation will continue surging this month has prompted economists to forecast that the BoE may hike rates later this year. View article >

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