GBP to USD Forecasts
NAB have revised upwards their pound sterling forecasts for 2020 through 2022. However the closer we get to a 'No-deal Brexit' the heavier the downward pressure will be on the pound.
GBP to EUR Forecast
The coronavirus pandemic has replaced Brexit in the headlines for 2020 which is favourable for GBP.
GBP to AUD Forecast
The success or failure of post Brexit negotiations will dominate GBP to AUD trends and forecasts in 2020.
AUD to GBP Forecast
The success or failure of post Brexit negotations will dominate AUD/GBP trends and forecasts in 2020.
GBP Trends, News and Forecasts for 2020
GBP to USD GBP to AUD GBP to EUR British pound in the markets The following sections show a summary of bank forecasts for popular GBP cross rates that we have reviewed, you can view each forecast article for more details. Forecasts for the British pound change all […]
TransferWise Borderless Account – BER Review
TransferWise’s Borderless Account allows users to hold and convert funds in 40 different currencies and send and spend internationally, all at the “real” exchange rate and with exceptionally low service fees. Users can also receive major-currency payments free of charge.
Revolut App & Card – Best Exchange Rates Review
We review Revolut, a digital bank that allows users to receive, send and spend money at the interbank exchange rate.
WorldFirst Foreign Transfers – BER Review
WorldFirst is a market leader in the international payments space and is consistently ranked among the most reliable and cheapest money transfer handlers for four-figure sums.
OFX Global Currency Account – BER Review
OFX Global Currency Account – Independent BER Review OFX Global Currency Account: A Summary OFX has a 30-year history and is one of the largest foreign exchange specialists in the world. It offers a “Global Currency Account” that allows online sellers to hold, send and receive funds in GBP, EUR, USD, AUD, CAD and HKD. […]
Coronavirus panic drives US dollar strength
Currency rates were extremely volatile last week as the coronavirus situation worsened day by day with various countries implementing ever-tougher measures to stop the spread of the disease.
Coronavirus spread fears linger – USD strong – AUD at 11 year lows
This week the US Dollar was touching three-year highs when valued against a basket of major currencies. The greenback's traditional role as one of the safe-haven currencies is helped by a domestic economy that is largely immune to the threats of the coronavirus.
Coronavirus unnerves currency markets
The strong start to the year for "risk-on" currencies is already a distant memory.
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.
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.
Australia Cuts Interest Rates to Record Low
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.
GBP’s Bright Start to the Year Is a Distant Memory
The British pound was the worst-performing major currency in the April-June period and remains “impossible to forecast” amid a Tory leadership battle that might force "no deal” or a general election.
Australians Swerve Thai Holidays with Exchange Rates in the Gutter
With AUD-THB at a 10-year low, Australians travelling this year to Thailand's wildly popular resorts are facing holiday costs 50 percent higher than those paid in 2012. With exchange rates as they are, those in Oz are choosing better-value destinations.
Canadian Dollar in the Spotlight After Surging to 16-Week High
Lifted by oil, economic data and the Fed, the Canadian dollar has soared against the US dollar to a 16-week high and has reached even more impressive milestones against the pound, euro and Australian dollar.
Booming Commodities Can’t Save Australian Dollar
The Australian dollar is at or near multi-month lows against a number of major currencies in spite of a rampant iron ore market — once a great influence on AUD.
Sterling Nears 5-Month Low Versus Euro
The UK economy is shrinking, as is the pound, which is buying less than 1.12 euros for the first time since mid-January. Investors are becoming increasingly unsettled over Brexit, particularly with Boris Johnson a hot favourite to become the UK's next prime minister.
US Dollar at 10-Week Low After Payrolls Disappoint; Fed Rate Cuts Now a Certainty
Investors dumped the US dollar on Friday after US jobs data came in well short of estimates and cemented expectations for lower US interest rates. In the coming months, the greenback might maintain its value based on safe haven inflows and looser monetary policies in other parts of the world.
Australia Cuts Interest Rates for the First Time in 3 Years
The Australian dollar remains stable in the high US$0.69s following the RBA’s decision on Tuesday to cut Australian interest rates to a record low of 1.25 percent.
Pound Could Be 10 Percent Higher at Year-End as No-Deal Brexit Risks Overblown
A “no deal” Brexit remains highly unlikely according to experts at Goldman Sachs and ING, and as such the pound is grossly undervalued and could rise strongly from current levels.
SGD, MYR at 6-Month Lows After Singapore, Malaysia Added to U.S. Currency Watchlist
The currencies of Malaysia and Singapore were trading at 6-month lows against the dollar on Wednesday following news that the US had added the Southeast Asian nations to its watchlist of suspected currency manipulators.
Westpac Cuts Australian Dollar Forecasts, Expects Interest Rates to Halve This Year
The struggling Australian dollar will lose a further 5 percent of its value against the US dollar and pound before the year is out, and 3 percent against the euro and New Zealand dollar, Westpac predicted on Friday.
Expensive Holidays for Brits After Pound Slips for Record 13th Day; What Next?
The British pound fell on Wednesday for a record thirteenth consecutive day against the euro. The currency is taking a Brexit-induced beating days before May’s half-term school break — a popular time in the UK for family holidays.
Sterling in Trouble: Eighth Day of Losses Takes GBP to 3-Month Low
The British pound fell on Wednesday towards a 3-month low against the euro and US dollar as attention turned back to Brexit and after lower-than-expected wage growth lessened prospects for a Bank of England rate hike.
Australian Dollar at 4-Month Low After China Announces Tariff Retaliation
The US-China trade war is hotting up and that’s bad news for the Australian dollar, which slipped on Monday to a 4-month low against the dollar, euro and yen.
Canadian Dollar Shockingly Undervalued, Analysts Say
The Canadian dollar might be worth considerably more towards the end of this year based on research by Scotiabank analysts who describe the currency as being “egregiously” undervalued.
Australian Dollar Leaps as RBA Stands Firm on Interest Rates
The RBA left interest rates on hold at 1.5 percent on Tuesday, spurring big gains for the Australian dollar, which had slipped beforehand to long-term lows against several major currencies. Roughly half of economists had expected rates to be cut by 25 basis points.
AUD/INR: A Perfect Storm for a Higher Exchange Rate
Seasonal weakness, election uncertainty, strong technical support and oil market complications should be more than sufficient to spur an AUD/INR rally into mid-year.
British Pound in Great Form with Brexit Troubles Fading
Constructive Brexit talks between UK politicians have imparted a sense of renewed optimism that has lifted the British pound to a 2-week high against the dollar and to a 3-week high against the euro.
Dollar Turbocharged by Economic Data; At Long-Term High Versus Euro, Franc and Krona
A turbocharged US dollar is likely to be “stronger for longer” after reaching long-term highs against a host of major currencies, including the euro, Swiss franc and Swedish krona.
Swiss Franc Slumps to 6-Month Low Versus Euro
The Swiss franc continued its shocking run of form on Tuesday, slipping against the euro to its weakest level in 6 months.
8 Percent Drop Coming Soon for Australian Dollar; RBA “Wants a Weaker Currency”
HSBC has reaffirmed its US66¢ year-end forecast for the Australian dollar, thereby signalling an upcoming 8 percent slide in the world’s fifth most traded currency.
SGD/MYR at 17-Month High; Ringgit Slumps on FTSE Index Deselection
What is arguably Southeast Asia’s most important exchange rate, Singapore dollar-Malaysian ringgit, leapt on Thursday to its highest level since November 2017, driven by FTSE Russell’s decision to reconsider Malaysia’s inclusion in an important bond index.
Commodities Boom Will Take Australian Dollar to US$0.74
The Australian dollar is forecast to climb to US$0.74 in the coming months, supported by a commodities boom that has seen the price of Australia’s largest export, iron ore, climb to a 5-year high.
Brexit This Year Now a Toss-Up, Bookmakers Say; What Next for Pound?
With the chance of a 2019 Brexit now reduced to 50 percent, the pound’s value is likely to remain capped for the time being, most likely near US$1.34, experts say. On the downside, US$1.24 is likely should the latest Article 50 extension be used to hold a UK general election.
Euro to Sink to US$1.08, Says ANZ
The euro hasn’t traded as low as US$1.08 since the early portion of 2017, but that’s where we’re heading within the next 3 months, analysts at ANZ believe.
AUD/NZD at 10-Week High and “Likely to Run Higher From Here”
The Australian dollar-New Zealand dollar exchange rate rose on Friday to a 10-week high as traders continue to make bets on monetary policy divergence between the RBA and RBNZ. Even higher rates are expected by teams at TD Securities and Societe Generale.
Bitcoin More Popular Than Visa, MasterCard for Large Payments; Recent Price Surge Only the Beginning (DataLight)
Research has highlighted the popularity of bitcoin for large payments, including those across borders. By transaction volume, bitcoin has nearly caught up with Mastercard and may in future overtake the market leader, Visa. In the markets, bitcoin’s sudden surge earlier this week is yet to be explained.
Get Ready for Sterling’s “Big Finish”; Australian Dollar at 2-Week Low
Goldman Sachs is backing British MPs to soon find a way through the current political deadlock, after which a “big finish” is expected by the British pound. Meanwhile, pessimism surrounds the Australian and New Zealand dollars, both of which have fallen to multi-week lows.
Banks Bet Against Aussie, Kiwi Dollar
For much of this year, banks have been betting on further Australian dollar deprecation, but after last week’s RBNZ shocker, they have also given a thumbs down to the New Zealand dollar.
Shocking Loss for New Zealand Dollar After RBNZ Says a Rate Cut Most Likely
The New Zealand dollar plummeted on Wednesday after the RBNZ said its next move on interest rates was likely to be a cut.
Benign Brexit Outcome Most Likely; Pound to Strengthen, Says Bank of America
Developments this week make a “benign Brexit outcome” the most probable and offer reason enough to be favouring British pound appreciation for the foreseeable future, analysts at Bank of America Merrill Lynch have said.
Australian Dollar: Last Week’s Price Action Suggests Further Declines
Given what should have been obvious advantages, the Australian dollar’s inability to gain against the US dollar last week is an ominous sign that suggests further Aussie depreciation in the near term.
US Dollar Plunges After Fed Signals No Rate Hikes This Year
The US dollar crumbled on Wednesday after the Federal Reserve signaled it would keep interest rates unchanged throughout 2019, thereby backtracking on the two rate hikes it predicted in December.
CBOE Ditches Bitcoin Futures Amid Reduced Interest
Amid declining interest, the Chicago Board Options Exchange, or CBOE, has announced it will no longer offer bitcoin futures contracts once current contracts expire in June.
Australian Dollar Still Struggling; AUD/GBP at Lowest Since 2016
A slight advance in AUD/USD this week to $0.705 is hardly cause for celebration; however, the stability this represents following 3 weeks of losses would normally signify reduced currency pessimism—in this case, it doesn’t even do that.
Pound Falls From 21-Month High After Doubts Cast on May’s “Legally Binding” Assurances
The pound fell rapidly away from long-term highs on Tuesday morning after Britain’s Attorney General said that the “legally binding” assurances secured on Monday night by Theresa May merely “reduced the risk” of the UK being trapped in a permanent backstop.
Australian Dollar, Euro Get Lift from “Too Bad to Be True” US Data
US jobs growth of only 20,000 in February, versus expected growth of 180,000, has allowed rest-of-the-world currencies to claw back ground against the US dollar which, until Friday, had been on a stellar run.
Canadian Dollar Still Friendless After GDP; Fair Value Much Lower
After a friendless Friday, the Canadian dollar has continued to lose value at the start of the new week. Now worth C$1.332 per USD, the loonie is at a 12-day low, but it has far further to fall if CIBC’s fair value estimation of C$1.4 is anything to go by.
JP Morgan: Aussie Dollar to Face Hard Times If No Let-Up in Housing Decline
Investors should expect the Australian dollar to face “global scrutiny” and “material downward pressure” should conditions in Australia’s housing market continue to deteriorate, JP Morgan’s head of FX has said.
Sterling Leaps to 21-Month High on Prospects of Brexit Delay, Second Referendum
The British pound has hit a 21-month high against the euro following increased speculation of a delayed Brexit and after Britain’s opposition party leader said he would now back a second referendum on EU membership.
Pound at 2-Week High Ahead of May-Juncker Brexit Meeting
The British pound was in high demand on Tuesday ahead of an important meeting between British PM Theresa May and EU officials, at which investors are hoping for a Brexit breakthrough.
Euro to Strike 20-Month Low This Week; $1.12 Beckons
Those intending to pick up euros this week should consider heeding warnings offered by MUFG. The bank expects the euro to move towards cheaper levels in the coming days and it would therefore be unwise to pay rates offered on Monday.
Dollar Optimism Drives Markets
Against a basket of currencies, the US dollar struck an 8-week high on Tuesday after US lawmakers reached an agreement on border security funding and as hopes build for a breakthrough in US-China trade talks.
Cryptocurrencies Soar: Litecoin Gains 30 Percent
Cryptocurrencies exploded on Friday for reasons not fully understood by analysts. Litecoin was among the day’s stars, gaining 30 percent. Brokers, though, remain skeptical about the rally’s sustainability.
Tough Week for Australian Dollar as RBA Disappoints on Growth, Interest Rates
Further losses on Friday cemented the Australian dollar’s status as the week’s worst performing major currency. Depreciation has been driven by Australia's central bank, which has slashed forecasts for 2019/20 economic growth and signaled it could lower interest rates.
Pound Rejects Lower Prices After Bank of England Slashes Growth Forecast
The pound rejected sub-US$1.29 levels on Thursday even after the Bank of England slashed growth forecasts, indicating underlying strength. Analysts say that the pound will rally to buy US$1.40 should Theresa May secure the EU concessions needed to pass her Brexit withdrawal agreement.
Australian Dollar in the Headlines This Week; Latest RBA Forecasts Due
With a number of Australian data releases, RBA statements and forecasts on the economic calendar, the Australian dollar is likely to be in the headlines this week, for good or bad.
Pound Reverses from 3-Month High After MPs Reject a Delayed Brexit
The pound is back trading in the US$1.30s after British MPs rejected a proposal to delay the UK’s exit from the European Union, which analysts say increases the likelihood of "no deal."
AUD Steady Ahead of Inflation, FOMC and Trade Talks
The Australian dollar was little changed on Tuesday despite what should be AUD-supportive remarks from an RBA board member. The Aussie remains subdued ahead of important inflation data, a Fed meeting and a second round of trade talks between the US and China.
Investors Ditch US Dollar Ahead of Fed Meeting; GBP/USD at 15-Week High
The US dollar recorded its largest one-day fall in nearly 3 months on Friday as the attention of traders turned back towards an increasingly cautious Federal Reserve.
Researchers Make Sweeping Cuts to Australian Dollar Forecasts
Within recent days, a host of experts have cut forecasts for the Australian dollar, indicating a new wave of pessimism on what is already the past year's worst-performing major currency.
Euro Struggles on Increased Recession Risk; Rand Outlook Worsens After Central Bank Changes Tune on Interest Rates
The euro is under siege following disappointing data and news this week that Germany barely escaped a recession in 2018. The ECB will now wait longer before raising interest rates, analysts say; however, EUR/USD will still end the year higher. In South Africa, a prediction by the country’s central bank that interest rates will be raised only once before 2021 put an end to the rand’s great start to the year.
Pound Fights Back on Hopes for Soft Brexit; Thai Baht at Long-Term Highs
Despite a crushing defeat for Prime Minister May’s Brexit deal on Tuesday night and a motion of no confidence tabled against the British government—which the government survived on Wednesday—the pound is close to multi-week highs. In emerging markets, the Thai baht remains an outperformer.
Sterling at 7-Week High Ahead of Important Brexit Vote
Ahead of Tuesday’s “meaningful vote” on the Brexit withdrawal agreement, the British pound has strengthened to a 7-week high against the dollar—evidence that investors are increasingly optimistic that a soft Brexit can be achieved.
Euro Fails in Breakout Attempt, Has Mixed Outlook in 2019
Late last week, EUR/USD failed to hold gains above $1.15, disappointing traders who had hoped for a big breakout. For 2019, experts still believe in higher EUR/USD rates, although the euro will likely lose value relative to the pound on any soft-Brexit options. In the short term, too, it may be in trouble.
Australian Dollar, Canadian Dollar to Outperform; Yuan at 5-Month High
The Australian dollar has rallied strongly following last Thursday’s “flash crash” and, like the Canadian dollar, is expected to outperform its peers in the near term. Investors remain willing to take on risk but the US dollar remains soft. In Asia, the yuan is expected to weaken beyond ¥7 within the next 6 months.
USD Nears Peak; Oil Rebound to Send CAD Higher, INR to Record Low
For the US dollar, analysts are predicting significant weakness in 2019. In contrast, the Canadian dollar will likely strengthen amid an energy market rebound, but under the same conditions the Indian rupee will slide to a record low. Cryptocurrencies, meanwhile, are trading higher but fail to inspire confidence.
Pound to Rebound Higher in 2019, Says SEB; No-Deal Brexit Unlikely
2019 will be a good one for the British pound, thinks a foreign exchange analyst at SEB. Recent depreciation is overdone, the analyst says, and will be corrected once markets begin to price in the improbability of a no-deal Brexit. Investors should expect a GBP/EUR rally into the mid-€1.17s or higher.
US Dollar Posts Worst Day in 7 Weeks After Fed Cuts Interest Rate Forecasts
The US dollar was sold heavily on Thursday in the aftermath of midweek announcements by the Federal Reserve. Though the Fed raised US interest rates by 25 basis points, as widely expected, it lowered its expectations for rate hikes in 2019, to the disappointment of dollar investors.
Australian Dollar Lacks Inspiration Following RBA Minutes, Looks Cheap Versus CAD, JPY
The Australian dollar continues to stagnate in the aftermath of Monday's RBA meeting minutes and ahead of this week’s meeting of the US Federal Reserve. Barring surprises, the Aussie is likely to remain well supported against the British pound, Canadian dollar and Japanese yen.
US Dollar Strikes 18-Month High, Will Lose Value in 2019
Against a basket of currencies, the US dollar climbed on Friday to an 18-month high as investors sought safer assets in the aftermath of disappointing economic and political developments in Europe and China. Given a growing consensus for dollar weakness in 2019, now might mark an opportune moment for exchanging dollars into foreign currency.
AUD/USD Forecast at $0.75 in 3 Months’ Time; Potential for Extreme AUD/GBP Moves on Wednesday
The Australian dollar has offered broad stability in recent days—a welcome change from last week’s sharp decline. The Aussie will likely trade higher over the coming months, Goldman Sachs has said, although anything goes for AUD/GBP on Wednesday as a vote of no confidence in the British Prime Minister takes place.
Pound at 20-Month Low After PM Cancels Big Brexit Vote; UK Prepares for No-Deal
The British pound was hammered on Monday following news that a House of Commons vote on the proposed EU withdrawal agreement has been cancelled. Against the US dollar, sterling fell to its lowest level since April 2017.
Big Bank Rolls the Dice on British Pound, Is a Buyer Ahead of Crucial Brexit Vote
Credit Agricole is seemingly rolling the dice on the British pound ahead of a hugely important vote in the House of Commons on Tuesday—a vote that will likely shape the nature of Brexit. Via the options market, the French bank is betting on an increase in the pound’s value.
Pound to Lose 25 Percent on Disorderly Brexit, Bank of England Warns
The British pound weakened against all major currencies on Thursday, a day after the Bank of England offered a stark warning on Brexit. Under a “no deal” outcome, sterling will lose between 15 and 25 percent of its value, the Bank said.
Australian Dollar and Euro Heading Higher, Experts Say
Weakness in the Australian dollar since Friday is to be short-lived, experts at National Australia Bank have said. A rally in AUD/USD to 0.74 is on the cards, as are politically-driven moves in EUR/GBP and EUR/CHF towards 0.92 and 1.2.
Australian Dollar Threatens $0.73; Pound Plunges as Brexit Secretary Resigns
The Australian dollar is benefitting from disarray in Europe and upbeat employment data. The day’s biggest news comes from Europe, though, where the British pound suffered one of its largest intraday declines in recent years following the resignation of the UK’s chief Brexit negotiator.
AUD, NZD Lead the Pack; No Imminent Recovery for CAD (SocGen)
The Australian and New Zealand dollar currencies were way out in front this week on the list of top performing FX majors. The Canadian dollar, meanwhile, continues to suffer from what is now a technical bear market in crude oil. Sterling is again under Brexit-related pressure amid reports of potential UK ministerial resignations.
Hard to Bet Against USD Despite Midterms and Rough Start to November
FX markets lacked volatility on Tuesday ahead of US midterm elections, the results of which will begin to trickle in after 7pm EST. November typically represents the best month of the year for USD and recent losses arguably offer a grab-it-now opportunity to get the currency at improved exchange rates.
GBP, AUD, NZD Jump as UK-EU Reach Deal on Financial Services
The mood was buoyant in foreign exchange markets on Thursday following news that the UK has achieved a deal with the EU on financial services that would give London’s banks continued access to European markets post-Brexit. Together with the pound, currencies that benefit from the switch to “risk on,” like the Australian dollar and New […]
Dollar Strikes 16-Month High; Euro FX Down in the Dumps; Mexican Peso Falls Sharply
Developments outside the US allowed for the dollar to appreciate against a basket of currencies to a sixteen-month high on Wednesday. The ICE-maintained US dollar Index, which provides a weighted-mean measure of the greenback’s value against the euro, British pound, Swiss franc, Canadian dollar, Japanese yen and Swedish krona, traded above 97.0 for the second […]
Canadian Dollar Gets Interest Rate Boost; Rand Dips on Budget Disappointment
The Canadian dollar received a significant boost on Wednesday after the Bank of Canada said it would “need to raise [interest rates] to a neutral stance to achieve the inflation target.” As widely expected, the BoC also hiked its benchmark rate by 25 basis points to 1.75 percent. The Canadian dollar strengthened by nearly a […]
Manufacturing Weakness Creates Further Uncertainty for Sterling
The British pound showed resilience on Tuesday in the face of data showing the fastest decline in UK manufacturing orders in three years. Pound uncertainty prevails, however, and a vote of no confidence in British P.M. Theresa May draws closer.
Focus Turns to Europe Ahead of Big Brexit Meeting; Stay Long Euros; Krona Revived
All eyes on Wednesday will be on the meeting between EU leaders and British Prime Minister Theresa May in Brussels, at which some still hope a Brexit deal might be struck. Expect volatility in sterling and euro rates throughout the evening. Meanwhile, the Swedish krona continues to outperform in Europe on expectations for tighter Riksbank policy.
Australian Dollar Steady Despite Risk Aversion, Sterling to Get Wild and Bitcoin Makes Its Move
This week’s flight from risky assets, evident from massive losses in equities, has yet to affect the risk-sensitive Australian dollar. The yen is firmer though, bitcoin has finally broken lower and options traders are paying up for protection against future sterling volatility.
EUR/GBP at 3-Month Low; EUR/USD Much Higher Next Year
The Brexit-driven EUR/GBP exchange rate opened on Monday at a 3 ½-month low as investors continue to bet on the UK and EU striking a deal. Against the dollar, the euro will be worth as much as 13 percent more next year, according to a new forecast from ING.
“Avoid GBP,” Forecasters Say; Swiss Franc Volatility to Increase
It’s no time to be brave with your British pounds, think foreign exchange experts at Crédit Agricole. “Stay conservative; avoid GBP,” the bank’s research team wrote on Tuesday. The pound has had a mixed year. As of writing, its 3.9 percent year-to-date loss against the US dollar ($1.299) is balanced by a 5.2 percent gain […]
Australian Dollar Has Best Week in 9 Months; Sterling Has a Shocker
A gain last week of 1.9 percent marked the Australian dollar’s best weekly performance versus the US dollar since December. The Aussie rebound continued with a touch of the $0.73 handle on Friday. Australia’s currency had been worth less than $0.71 just 10 days earlier. It settled for the week at $0.7285. Further to gains […]
Time to Exchange British Pounds: Currency Is Under Siege Following Latest Brexit Deal Humiliation
The British pound has been sold widely on Friday following Thursday’s comprehensive rejection by EU leaders of the UK’s proposed Brexit deal—the “Chequers” plan. The Chequers plan, which outlines terms for the UK’s departure from the EU and which includes a “combined customs territory” on the Irish border, “would not work,” said European Council President […]
Relief in Emerging Market FX After Turkey Raises Interest Rates
There was widespread relief among emerging market investors on Thursday after the Turkish central bank finally raised interest rates to protect the embattled lira. Elsewhere, the dollar lost value for a fourth consecutive day and ethereum stabilized after a ten-day fall.
More Upside Expected for Norwegian Krone
The Norwegian krone was the best performing G10 currency on Monday. The krone benefitted from better-than-expected inflation data and an uptick in European sentiment that followed this weekend’s Swedish election and Michel Barnier's prediction that a Brexit deal will be concluded within 6-8 weeks.
EUR/GBP Set for Big Move Lower on Impressive Technical Formation
The euro fell sharply against the British pound on Friday after the EU's chief Brexit negotiator, Michel Barnier, said he was determined to strike a deal with the UK. A near-perfect Head and Shoulders pattern now indicates a move in EUR/GBP into the high 0.87s.
Frightening FX Losses in Argentina; SNB Might Intervene to Weaken Franc
The currency situation in Argentina is becoming desperate. In a single three-hour period on Thursday, the Argentine peso shed 19 percent of its value as it slid to 41.47 to the dollar. The peso had already lost 45 percent since January. With the peso’s spiral downwards, default risk in Argentina moves ever higher, resulting in […]
Dollar and Yen Soar on Flight to Safety; Turkey Leads Turmoil in EM FX
The US dollar and Japanese yen soared on Friday as traders fled risk-sensitive currencies. Turmoil in emerging market FX is being led by the Turkish lira, which fell 15 percent in twelve hours after President Trump doubled tariffs on Turkish steel and aluminium imports.
Canadian Dollar at Multi-Month Highs; NZD/CAD Sinks to Lowest Since December
Entering the second trading week of August, the Canadian dollar remains at or near multi-month highs against many of the world's major currencies. The "loonie" has been well supported since the end of June following a hawkish repricing of Canadian interest rate expectations.
US Dollar on the March; Markets Yet to Price in Full Extent of Fed Hikes, Says SEB
The US dollar made inroads against most of the world’s currencies on Thursday as trade fears forced investors into safer assets.
FX Markets Subdued Despite Trump-EU Deal to Avoid a Trade War
Trade tensions were eased on Wednesday after the US announced it had agreed to work towards zero tariffs on “non-auto industrial goods” with the European Union. Unlike equity markets, which rallied strongly on the news, FX markets were little changed on Thursday morning.
Yuan and Australian Dollar Hit by Latest Round of US Tariffs
Traders offloaded Chinese yuan and Australian dollars on Wednesday after the US government said it would introduce 10 percent tariffs on a further $200 billion worth of Chinese goods.
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Higher Yields Support Dollar’s Best Week Since Trump Elected
It was a disappointing end to the week for the US dollar but enough was achieved between Monday and Thursday for it to record its best week since bubbling over in the aftermath of Donald Trump’s election in November 2016. Investors piled into dollars as yields rose amid a massive increase in the supply of […]
Swiss Franc Slides to Symbolic 1.2 Per Euro Level, Cheered On by SNB
Thursday and Friday saw the Swiss franc slide through the symbolic 1.2 per euro level at which the Swiss National Bank capped the franc’s value prior to “Francogeddon” in January 2015. The franc has weakened steadily since it traded at 0.965 per euro in the aftermath of the SNB’s abrupt abolition of the currency cap, […]
Sterling to Remain Steady but Bitcoin, Canadian Dollar Face Difficult Times Ahead
Little has been felt in foreign exchange markets from the UK’s recent political entanglement with Russia, which escalated last week with a tit-for-tat expulsion of diplomats. The pound gained last week against both the dollar and euro and will remain steady for the foreseeable future, according to the collective opinion of FX analysts surveyed by […]
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BER-News: Bitcoin below $US10K mark (again)
Among the world’s ten most actively traded currencies, it was the Chinese yuan that was leading the pack approaching the end of the Asian business week. Last week: majors all down Aussie dollar (AUD) was down last week, retreating from US0.80 cents, on Australia’s disappointing rise in private sector wages, their massive contraction […]
BER-News: Cryptos hung onto recent gains.
Last week’s much-improved US inflation data had the desired effect on US rate expectations which have adjusted to indicate a 100% probability of the Federal Reserve raising interest rates in March. Ordinarily, such a revision to expectations would fuel a transfer of hot money into US dollars, yet dollar traders continue to chart their own […]
FX Calm Amid Broader Market Carnage; Dollar, Yen and Bitcoin Benefit
During a week which saw global equity markets suffer their largest losses in two years and broader market volatility pick up, foreign exchange markets were surprisingly calm. A flight to safety benefitted the US dollar, which finished higher against a basket of currencies for the second consecutive week; and the Japanese yen, which at one […]
Dollar Doldrums: USD Suffers Worst Day in 10-Months Despite Pick-Up in Core Inflation
The U.S. Dollar Index (DXY) suffered its worst one-day decline in ten months on Friday in spite of an unexpected acceleration in the rate of core inflation and what appeared to be an upward revision to U.S. interest rate expectations. After the Bureau of Labor Statistics announced that U.S. consumer prices, excluding food and energy, […]
Westpac, ING Forecasts: Australian Dollar Set for 10 percent Decline and Sterling to Climb on Trade Deal, Hawkish BoE
The Australian dollar is set for a double-digit (11%) fall to just 68 US cents in the coming eighteen months, according to the revised forecast of Australia’s fourth largest bank, Westpac. In a note to clients, the team at Westpac said this week that it sees a fall from Friday’s AUD/USD 3 Month Chart Regular […]
Transferwise changes UK fee structure
In October 2017, Transferwise introduced a new fee structure for foreign transfers from the UK ... its complicated so we will break it down for you!
Ruble Volatile After Rate Cut; Reverses From 8-Week Low
The Russian ruble has been one of the most volatile emerging market currencies in recent years, and it ended this trading week in much the same way. On Friday, USD/RUB’s high-low range ran close to 1.1 rubles, marking the Russian currency’s most volatile session since July. Yesterday’s excitement in USD/RUB was largely the result of […]
Korean Won at 7-Week High, Canadian Dollar Suffers and ECB to Announce Plans for QE
The South Korean won climbed to a seven-week high against the dollar on Wednesday (a USD/KRW low) of 1123.3 after third-quarter GDP data showed South Korea’s economy growing at its fastest pace in seven years. Third-quarter growth of 1.4% was well above the median estimate of 1.0% and an improvement on second-quarter expansion of 0.6%. […]
A Higher Australian Dollar Poses No Problems for Exporters, Says Treasurer
Australian Treasurer Scott Morrison expressed no discomfort with the current valuation of the Australian dollar this weekend. In an interview with Bloomberg TV, Morrison said that Australian exporters had adapted to a currency that was now 9.3% higher against the US dollar ($0.7873) and nearly 4% higher against the Chinese yuan (¥ 5.1954) than it […]
RBA Preview: Australian Dollar, Labour Market and House Prices in Focus
At 2:30pm local time (GMT+11) on Tuesday, the Reserve Bank of Australia will announce its latest decision on interest rates. No change is expected to the RBA’s cash rate which has been held at a record low of 1.5% since August 2016, and therefore, once again, the spotlight will be shone on the RBA’s accompanying […]
HSBC Admit Mistake on Euro-Sterling Forecast; No Longer Sees Parity
“We were wrong,” said HSBC’s head of strategy David Bloom as he cancelled the bank’s forecast for the euro to reach parity with sterling this year. For much of 2017, HSBC analysts have been among the gloomiest on sterling with their predictions for continued declines in the currency against both the euro and dollar. Bloom had […]
Moody’s Downgrade the UK and Elections Begin in New Zealand, Germany
US ratings agency Moody’s has downgraded the UK’s credit rating from Aa1 to Aa2 over concerns for the future of the UK’s public finances. The ratings outlook is now “stable”, from “negative”. Moody’s stripped the UK of its AAA rating back in 2013. “The outlook for the UK’s public finances has weakened significantly since the […]
ABM Amro Has “Strong Conviction” on Future Dollar Weakness; Predicts 12 percent Rise in AUD and NZD
New forecasts from Dutch bank ABN Amro see continued weakness in the US dollar heading into and throughout 2018. “We have a strong conviction that the US dollar has entered a multi-year downtrend,” said ABN’s Georgette Boele. The dollar will be hardest hit against “growth sensitive and commodity currencies,” according to the bank, which include […]
Sterling Soars, Yen the Casualty at the End of Eventful Week
The British pound rose on Friday to its highest level against the dollar since the UK’s historic ‘Brexit’ vote in June of last year. By lunchtime in London, the pound was buying $1.3616, capping a brilliant fortnight in which it has risen from rates close to $1.29. On minor profit taking, the currency settled back […]
Singapore Dollar Trades Cautiously but Still Reaches 6-Week High Versus Yen
The Singapore dollar has begun the week cautiously. Against the US dollar, having risen on Friday to a one-year high of 0.7493, the currency of Asia’s ‘Lion City’ conceded some ground on Monday and Tuesday, with SGD/USD falling back below 0.745. A retreat in the pair was likely given last week’s approach to major technical […]
New Zealand Dollar Remains Heavy as Election Looms
The New Zealand dollar sank on Monday morning against the other FX majors amid uncertainty over New Zealand’s future government and on the back of a continuation in weak sales data. Advanced voting in New Zealand’s general election begins on Monday, ahead of election day on September 23rd, and while polls indicate no clear favourite, […]
Baht’s Climb Not Yet Done, Says New Forecast
Asia’s best performing currency, the Thai baht, isn’t done yet, said both Scotiabank and Standard Chartered in recent days. USD/THB, which has fallen (the baht has risen) 7% this year, is set for a further 7% fall to levels around ฿31 in 2018 according to Standard Chartered, from Monday’s exchange rate of ฿33.25. Analysts at […]
Australia Adds 28k Jobs, AUD/NZD and AUD/GBP Rally to Multi-Month Highs
Fuelled by a return to “risk-on” amid easing geopolitical tensions and ahead of a crucial employment report, the Australian dollar rose broadly and was the currency world’s best performer yesterday. Notable exchange rates include AUD/NZD, which rallied to a fifteen-week high of N$1.087, and AUD/GBP, which rallied to a four-and-a-half-month high of £0.616. A notable […]
Yen Falls as Risk Appetite Returns
The yen fell by nearly a percent yesterday against the US dollar – its biggest one-day fall in six weeks – as investors regained their appetite for risk amid an easing of the tense situation surrounding North Korea. The yen, which has long been considered the FX world’s premier safe haven, typically falls in value […]
Banks in Agreement: Euro to Reach Parity Versus Pound
HSBC and Morgan Stanley are in agreement: The euro will rally to reach parity (1.0) with the British pound within the next 4-8 months. This consensus has been formed after Morgan Stanley this week released their latest forecasts which show EUR/GBP at 1.02 by the end of March next year. HSBC had already publicly forecast […]
Drama in Asia as the Yuan Spikes to 10-Month High Amid Speculation of a Wider Trading Band
Tuesday’s Asian session was stirred by a surprise surge in the Chinese yuan. Starting around 9:30am in Beijing, the yuan began rallying strongly against the dollar, with offshore rates declining (the yuan strengthening) to 6.7024 by 1pm, from rates earlier in the session around 6.73. Onshore yuan easily broke the 6.7 level and as of writing […]
Sterling Predicted to Fall 15 percent Before Year-End and RBA Deputy Cools Australian Dollar
The British pound is set to fall by as much as 15% by the end of 2017 according to Guy Petcho of Voya Investment Management. Petcho, who formerly was a part of George Soros’ investing team, said in an interview with Reuters on Friday that a turn for the worse in UK economic growth will […]
New Zealand Dollar Hits 1-Month Low Versus EUR and GBP, 3-Month Low Versus CAD
The New Zealand dollar continued yesterday to retrace its broad May-June uptrend, falling to a one-month low against the British pound and euro, and to a three-month low against the Canadian dollar. NZD/GBP, NZD/EUR and NZD/CAD fell to 0.5583, 0.6293 and 0.9305 respectively. Although the kiwi has fallen across the board in recent weeks, it […]
Ringgit Completes Turnaround, Is Asia’s Best Performing Currency in Second Quarter
The Malaysian ringgit was Asia’s worst performing currency in 2016, having suffered from a slump in the oil price, a general deterioration in Malaysia’s economic outlook and a far-reaching political and economic scandal involving the country’s Prime Minister, Najib Razak, and billions of lost dollars from Malaysia’s state development fund. With that said, in 2017, […]
Yen Falls to 1-Month Low Ahead of Yellen Speech
“Hedge funds are selling yen this week, and positive comments from Yellen could give them an excuse to sell even more,” said Kaneo Ogino of FX research group Global-Info Co yesterday. Ogino’s comments came at the end of yesterday’s New York session which ended with the yen trading at ¥111.84 against the dollar, marking a […]
Sterling Set for Significant Fall, Says Investment Guru
In an interview with CNBC journalists on Thursday, Beat Wittmann of Porta Advisors – a man with more than 30 years of investment experience, including time spent at UBS, Credit Suisse and Julius Baer – expressed his belief that the British pound is set for further significant falls over the coming year as a result […]
EM Asia Currencies Fall Following Moderately Hawkish Fed Speak
A rally in the US dollar prompted by moderately hawkish Fed speakers pushed emerging market Asian currencies such as the Thai baht, Philippine peso and Malaysian ringgit lower on Tuesday. Asian currencies from developed economies but which nonetheless remain second tier and under the “emerging” umbrella, such as the Korean won and the Taiwan dollar, […]
Ramsdens Exchange Rates – BER Review
Better exchange rates may be available from our other UK providers. For a comparison of today’s best online currency deals, goto our comparison calculators for Foreign Transfers and Travel Money. Minimum Order Values Euro (€) / US Dollars ($) Orders The minimum order value for Euro and US Dollars is £50 or the equivalent of […]
Malaysian Ringgit Trapped in Range Versus Pound, Reverses from Five-Month High
Having been one of Asia’s worst performing currencies for some time, the Malaysian ringgit has turned a corner recently; a small corner, but a corner nonetheless. The ringgit is now clearly trending upwards against the US dollar, albeit on low volatility, and is up nearly 6% since lows in mid-November. One ringgit now buys more […]
New Zealand Dollar Finally Turns Following FOMC and Weaker Than Expected GDP
A combination of this morning’s FOMC meeting and weaker than expected GDP data pushed the New Zealand dollar down against a broad group of currencies on Thursday. Data released by Stats NZ on Thursday morning showed that GDP rose 0.5% in the first quarter, which although higher than a 0.4% print in the fourth quarter, was comfortably […]
Australian Dollar Unmoved by Fall in Consumer Sentiment
This morning, investors learned that the Westpac-Melbourne Institute (WMI) survey of Australian consumer sentiment fell last month by 1.8% and remained in “pessimist” territory for the seventh consecutive month. The survey is seen by many analysts as an important gauge of the Australian public’s willingness to spend, which is itself an important driver of the […]
Canadian Dollar Surges as Central Banker Hints at Rate Hike and Hong Kong Dollar Hits 16-Month Low
Very early this morning in Asia, Bank of Canada (BOC) Council member Carolyn Wilkins lit a fire under the Canadian dollar with her remarks to an audience at the Asper School of Business in Winnipeg, in which she hinted at a possible rate hike by the BOC. Wilkins said that “as growth continues…the Governing Council […]
New Zealand Dollar Strength Continues, Reaches 7-Month High vs. Canadian Dollar
The New Zealand dollar was the best performing of the FX majors in May. By the month’s end, the currency had gained 2.9% against the US dollar, beating a resurgent euro, which gained 2.6%, into first place. The rapid appreciation of New Zealand’s currency, which has been attributed by Citi Bank to improving trade, strength […]
Sterling Tumbles as a Hung UK Parliament Most Likely with Half of Votes Counted
The UK is on course for a hung parliament following yesterday’s general election and the British currency has tumbled to multi-week lows against most currencies. As of 3am GMT, with around half of the votes counted, it looks fairly likely that the ruling Conservative party will win the most seats, but that it will fall […]
UK to Vote, ECB Decision and Comey Testimony Make It a Big Day for FX and Politics
Significant exchange rate volatility should be expected on Thursday and Friday with the following major events on the calendar. UK General Election GBP/USD 3 Month Chart On Thursday, British voters will go to the polling stations to vote in their general election. Campaigning in the election has been interrupted by terrorist attacks in London […]
US Dollar Index Falls to 7-Month Low on Poor Jobs Data
The US dollar fell across the board yesterday and the Dollar Index (DXY) fell to 96.67 – its lowest in nearly seven months – following a highly disappointing US jobs report. For traders, the monthly report, which includes numbers for US non-farm payrolls, average hourly earnings growth, as well as the unemployment and participation rates, […]
Pound Falls as Shocking Poll Data Suggests UK Should Brace for a Hung Parliament
Late on Tuesday night, the British pound fell two-thirds of a cent against the dollar to 1.2789 following results from the latest YouGov poll, which indicate that the UK’s ruling Conservative party will fall 16 seats short of an outright majority and that Britain faces a hung parliament after its general election on June 8th. […]
New Zealand Dollar Is Best Performer in May but Big Bank Predicts Lower Value Ahead
Of the FX majors, the New Zealand dollar has been the best performer in May. At the end of yesterday’s New York session, with NZD/USD at 0.754, the pair is up 2.9% since May 1st. By comparison, the kiwi’s closest cousin, the Australian dollar, is down 0.5% against the US dollar. The New Zealand dollar […]
Sterling Falls to 1-Month Low as Polls Show Tory Lead Shrinking
Throughout May, the British pound has battled with the $1.30 level against the US dollar. Since April 27th, the majority of trading in GBP/USD has occurred within a narrow range between $1.2845 and $1.30. Only once since that date did the pair manage to post a close above $1.30, which occurred on May 19th at […]
Merkel Adds Fuel to Euro Rally, Says Euro “Too Weak” for Germany
In the past several hours, the euro has surged following the release of comments from German Chancellor Angela Merkel, who has said that the single currency is “too weak” for Germany – weakness which is “due to the ECB’s policy” and which “makes German goods…comparatively cheap.” As of writing at 13:35 GMT, the euro is […]
Make the Most of Japan’s Spring Time Charm: Yen Great Value Against Korean Won, Taiwan Dollar, Pound and Euro
In the four-weeks leading up to last Friday’s close (May 12th), the Japanese yen had been one of the world’s worst performing currencies against the US dollar, falling 4.3% within that time. The yen’s weakness during that period marks one hell of a turnaround from the four-weeks immediately prior, in which the yen was one […]
Sterling Falls After 4-Week Winning Streak, Fails to Penetrate $1.30 Despite Disappointing US Data
It was a quiet day in markets on Friday. The VIX index closed at 10.4, marginally higher than Monday’s dismal close in the index at 9.8, but remains near to multi-decade lows. Commodities prices – key drivers of CAD, AUD, NZD and emerging market currencies – traded in narrow ranges. US WTI oil traded within […]
Australian Dollar Getting Cheaper by the Day as Further Economic Data Drags Currency Lower
There is good news for those in the US, Europe, Japan, Singapore, the UK, New Zealand, Taiwan, India, Mexico and just about anywhere at all, and that news is: that the Australian dollar is offering itself up for sale, in a buy 1 get all special. If you’ve always dreamt of cuddling that koala, buying […]
Traders Bought the Rumour, Sold the Fact as Euro Falls Slightly on Macron Victory
Former Rothschild banker and centrist candidate Emmanuel Macron is the new French president. Macron secured almost precisely two-thirds of yesterday’s vote (66.06%) and, in doing so, easily fended off his competition, Marine Le Pen, who secured one-third (33.94%). At 39, Macron will become France’s youngest ever president. He also becomes the first president since 1958 […]
Fed and Economic Data Add to a Terrible Day for Australian Dollar
Yesterday on BestExchangeRates.com, we suggested that now might be the time to change your Australian dollars into Canadian dollars, having seen the Aussie’s buying power reach 6-month highs on Tuesday. Those words now seem prophetic, given what we saw yesterday in Australian dollar exchange rates. The Australian dollar tumbled across the board yesterday, including against […]
Sterling Soars on May’s Election U-Turn and Switzerland Denies Currency Manipulation
Described as a “game-changer” by Deutsche Bank, British prime minister Theresa May’s decision to call a snap general election was the big story of the day on Tuesday and has reignited sterling exchange rates. For months Theresa May had played down the possibility of an election earlier than 2020. In the eyes of many of […]
Thai Baht Close to 21-Month Highs as Central Bank Governor Denies Currency Manipulation
The Thai baht closed higher against the US dollar again on Thursday, ending the day just several pips short of recording its highest close in 21-months. Against the euro, the baht posted its highest close in 23-months. USD/THB and EUR/THB ended the New York session at 34.37 and 36.40 respectively. The baht continues […]
A Big Increase in the Yen Is Coming, Says Analyst at Investment Bank
The probability of a significant appreciation of the Japanese yen in the coming weeks has increased substantially, at least according to Georgette Boele, coordinator of FX strategy at Dutch banking group ABN Amro. In the bank’s latest update on markets, Boele points to factors such as the Federal Reserve’s plans for significant balance sheet reduction […]
Wednesday’s Data to Breathe New Life into FX, and Time to Buy Your Sterling
The FX markets welcome China back from a two-day holiday on Wednesday, and markets will be hopeful that the Asian giant’s re-introduction, combined with a host of US data, will spark new life into what has been an uneventful start to the FX week. Again yesterday, like the day before, some of the world’s most […]
TorFX International Money Transfers – BER Review
In this guide we take a look at TorFX exchange rates, customer service and user ratings, so you can see how they compare to other providers.
World First’s selection of 11 global events for sports lovers in 2016
A new year brings a wealth of sporting delights around the world, from Euro 2016 to the Invictus Games. Here at World First, we help people transfer money around the world. Some of the people we help in 2016 might be out in the US for the Ryder Cup golf, and enjoy it so much […]
World First’s list of 101 things to do around the world in 2016
Want to do something different in 2016? We’ve scoured the world for the biggest, messiest, noisiest, most iconic and, frankly, the weirdest events around the world to compile the ultimate list of 101 things to do around the world in 2016. From sport to music, festivals to the weird and wonderful, we’ve got you covered. […]
Azimo Reviewed
Azimo have created a way to send money that suits how people live today – online, mobile and social. Born out of frustration at the money transfer industry. So much waste, cost and poor customer service. Set up by a super hard-working team, who have created a better way to send money overseas. One advantage […]
Currencies Direct – BER Review
Currencies Direct is one of Europe’s leading non-bank providers of currency exchange and international payment services. Since its formation in 1996 Currencies Direct has maintained its focus on being an innovative service provider of foreign exchange and international transfers for consumers and high net worth individuals with an extensive client base of 200,000. When you […]
