BER Currency News

BER Home/s

  1. Home
  2. Currency News
  3. Market Updates
  4. Currency Movement Expected on UK Inflation Data

Currency Movement Expected on UK Inflation Data

Categories: AUD, CAD, EUR, GBP, Markets, News, NZD, USD


GBP/USD 1 Week Chart

The Pound (GBP) remains on the back foot against the majority of its peers this morning as markets await the UK’s latest CPI figures.

Economists predict that the data will show that inflation surged from 2.3% to 2.6% in April, putting it well over the Bank of England’s (BoE) target of 2.0%.

Investors are hopeful that this will lead the Bank to begin discussing the tightening of monetary policy. However, BoE Governor Mark Carney has previously said that inflation was not currently a concern for the bank and that it was only so high due to the devaluation of the Pound.


The Pound Euro (GBP EUR) exchange rate plummeted over half a cent from its best levels yesterday as investors reacted positively to Emmanuel Macron’s first moves as French President.

Macron appointed Édouard Philippe, a Republican mayor from Le Havre, to be the new Prime Minister, which markets hope will help gain Macron the bi-partisan support needed to push through his economic reforms in Parliament.

Traders also welcomed the President’s first meeting with German Chancellor Angela Merkel and their following press conference in which the pair said they would work together to ‘deepen the European Union’.

US Dollar

Following a dip yesterday afternoon Sterling trended higher against the US Dollar (USD) again overnight following new allegations against Trump.

The US media reported that Trump had shared highly classified information with Russia regarding the Islamic State, fanning the flames of speculation over the President’s supposed links to Moscow.

The ‘Greenback’ may tumble even further this afternoon with the release of the latest US Industrial Production figures, with analysts predicting that activity fell  last month.

Canadian Dollar

The Pound Canadian Dollar (GBP CAD) exchange rate softened by around half a cent on Monday as the ‘Loonie’ was strengthened by rising oil prices.

The recent uptick in prices comes thanks a joint press conference by Saudi Arabia and Russia in which the two nations signalled that they would support extending the current production cuts until next year in order to combat the supply glut.

Australian Dollar

After slumping by around half a cent in trade yesterday, Sterling was able to recoup most of its losses against the Australian Dollar overnight on Monday as a recent report from ANZ suggesting that the Reserve Bank of Australia (RBA) was unlikely to hike rates again until well into 2018 weighed on the ‘Aussie’.

New Zealand Dollar

The Pound New Zealand Dollar (GBP NZD) exchange rate painted a similar picture this morning, with Sterling bouncing back by the morning, however the ‘Kiwi’ may rally again later this afternoon if prices rise once again at the latest Global Dairy Auction.

TorFX Author: TorFX

"Our company's mission is to provide outstanding exchange rates, expert guidance and a simple, friendly service that people will want to recommend to others." – Jon Beddell (CEO). Contact TorFX for an FX Quote - UK & Europe - Australia & NZ.

You can get in touch with TorFx via email here or via the contact page.
Please note that the opinions of our authors are their own and do not reflect the opinion of BestExchangeRates and should not be taken as a reference to buy or sell any financial product. Full Disclaimer

BER logo BestExchangeRates - We make it Easy to Compare Exchange Rates & Fees of Banks and Currency Exchange & Payment Providers

Level 2, 50 Bridge St, Sydney NSW 2000.

Disclaimer | Copyright | Privacy Statement

DISCLAIMER is an information only service. By browsing on the website, using our comparison tools or FX provider referral service, you are asking BestExchangeRates to provide you with information about currency exchange products & services from multiple financial institutions.

We will try to show you a range of products & services in response to your request for information. The search results do not include all providers and may not compare all features relevant to you. In giving you product information we are not making any suggestion or recommendation to you about a particular product.

If you decide to conduct foreign exchange you will deal directly with a financial institution, and not with BestExchangeRates. Rates and product information should be confirmed with the relevant financial institution, see our terms of use for further details.

BestExchangeRates may receive fees or other benefits in relation to activity on the BestExchangeRates website. BestExchangeRates may receive remuneration for vendor referral links. Please note that the opinions of our authors are their own and do not reflect the opinion of BestExchangeRates and should not be taken as a reference to buy or sell any financial product.

Read our Full Terms of Service


This website and its contents are the copyright of BEST EXCHANGE RATES PTY LTD © 2009-17. All rights reserved.

Any redistribution or reproduction of part or all of the contents in any form is prohibited other than the following. You may print or download contents to a local hard disk for your personal and non-commercial use only. You may copy some extracts only to individual third parties for their personal use, but only if you acknowledge the website as the source of the material.

You may not, except with our express written permission, distribute or commercially exploit the content. You may not transmit it or store it on any other website or other form of electronic retrieval system.

For more details or request distribution right please contacxt us here.