Pound finds Relief against Euro, Australian Dollar

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Pound Sterling (GBP) Exchange Rate Recoups Losses following Mass Sell-Off

The Pound (GBP) managed to rally yesterday after a large-scale offload by investors in the beginning of the week saw its value plummet.

With no UK news to focus on yesterday economists speculate that the principle reason behind GBP’s recovery was that the initial sell-off was somewhat overzealous.

The US Dollar (USD), however, continued to climb against the Pound, but Sterling regained some of the ground lost against the Euro (EUR), among others.

The Pound has a chance today to extend its reversal of fortune, with GDP figures meeting their forecast increases, although analysts speculate that this increase may already have been priced in.


GBP/EUR Exchange Rate Rises following ECB Bulletin

The Pound Euro (GBP/EUR) exchange rate managed to gain 0.2% yesterday, which offered some marginal relief following Sterling’s dramatic decline on Wednesday.

This increase had more to do with the Euro dipping, however, as the European Central Bank (ECB) released their latest economic bulletin. The bank’s bearish outlook on the effects that issues like trade tariffs and Brexit may have on the world economy did little to incite investor confidence in the single currency.

The Eurozone is not due to publish any more major data this week, which will likely leave Euro exchange rate fluctuations dependent on news from abroad.


GBP/USD Exchange Rate Continues Downtrend as Trade Tensions Remain Prominent

The Pound US Dollar (GBP/USD) exchange rate hit a one-year low overnight as the pairing continues to be pummelled by trade fears.

Investors turned to USD as safe-haven demand was exacerbated by enduring trade war fears, as well as an announcement that the White House will enact further sanctions on Russia.

The US Dollar may continue its drastic appreciation this afternoon if the US’s latest CPI data shows an increase in inflation, as this would support the prospect of further interest rate hikes by the Federal Reserve.


GBP/CAD Exchange Rate Firms following Dip in Oil Prices

The Pound Canadian Dollar (GBP/CAD) exchange rate was stable yesterday as crude oil prices fell, causing the commodity-correlated ‘Loonie’ to lose popularity with investors.

CAD may strengthen this afternoon even without oil prices to back it up, as today’s Canadian jobs data is expected to show a decline in unemployment.


GBP/AUD Exchange Rate Bolstered by Trade Tensions

A decline in risk appetite saw the Pound Australian Dollar (GBP/AUD) exchange rate boosted on Thursday, with the continuing US-China trade spat leading to a decline in demand for the ‘Aussie’.


GBP/NZD Exchange Rate Swells amid RBNZ Dovishness

The Pound New Zealand Dollar (GBP/NZD) exchange rate rose by nearly a cent yesterday as fallout

from the Reserve Bank of New Zealand’s interest rate decision continued to spell a decline in the

‘Kiwi’. While the Pound has since shed some of these gains, GBP/NZD remains up on the week’s worst levels.


Further Reading


New Year Optimism Retreats on US/Iran Tension

The threat of a proxy war between the US and Iran in Iraq has pared back some of the recent gains of “risk-on” currencies.

Last update: 8 Jan, 2020

AUD/GBP Between a Rock and a Hard Place – USD Strength


Both the Australian dollar and British pound sterling have had a hard time of late caught between the rock of the China/US trade war and the Brexit hard place.

Last update: 7 Jan, 2020

Australia Cuts Interest Rates to Record Low

RBA Australian dollar AUD currency news and forecasts

The RBA has cut Australian interest rates to a record low of 1 percent in an effort to boost inflation. The Australian dollar is slightly stronger following the widely expected decision but is expected to lose 5–7 percent of its value before year-end.

Last update: 7 Jan, 2020


Posted to: News

Please note that the opinions of our authors are their own and do not reflect the opinion of Best Exchange Rates and should not be taken as a reference to buy or sell any financial product.

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