Pound Sterling Live

17/10/2022

The British Pound extended gains on Monday after the UK government ripped up all its plans to cut taxes and said its energy bill support programme would now end in April.

The British Pound extended gains on Monday after the UK government ripped up its plans to cut taxes and said its energy bill support programme would now end in April.

14/10/2022

The Pound has rallied to its highest level in over a month against the Euro while recovering to its highest level in a week against the Dollar, amidst reports the UK government was set to reverse some, or all, of its mini-budget.

GBP surges on mini-budget u-turn rumours, corporation taxes could rise says report.

11/10/2022

The British Pound fell sharply late in U.S. trade after Bank of England Governor Andrew Bailey said the Bank would end its emergency support to pension companies on Friday, as planned.

11/10/2022

Goldman Sachs says a recent rebound in Pound Sterling is partly a result of the disruptions in UK pension plans which has led to some significant, but temporary, repatriation back to the UK in order to raise capital.

Goldman Sachs says a recent rebound in GBP is partly a result of the disruptions in UK pension plans which has led to some significant, but temporary, repatriation back to the UK in order to raise capital.

11/10/2022

The British Pound is under pressure amidst signs the UK's trillion pound debt markets are creaking at the seams, forcing fresh intervention from the Bank of England.

GBP under pressure as BoE announces fresh emergency measures.

28/09/2022

A renewed decline in global markets has put fresh pressure on the British Pound and all indications are further losses are likely, potentially resulting in a retest of recent lows.

27/09/2022

The British Pound is undergoing a major adjustment lower that will only end once it has fallen below parity, says a leading economist.

"The magnitude of Britain’s trade current account deficit underscores the seriousness of its challenges. My guess is that pound will find its way below parity with both the dollar and euro," says Summers.

The British Pound is undergoing a major adjustment lower that will only end once it has fallen below parity, says a leading economist.

26/09/2022

The British Pound was seen recovering from its lows against the Dollar, Euro and other major currencies as European markets opened for trade on Monday.

European traders bought Sterling at discounted levels after if collapsed in what appears to be a 'flash crash' during the Asian market trading conditions, which are notoriously less 'liquid' in UK assets than European and U.S. markets.

The British Pound was seen recovering from its lows against the Dollar, Euro and other major currencies as European markets opened for trade.

23/09/2022

This is a bold statement of intent by the government of Liz Truss, her mission statement is clear and it remains to be seen whether it works. If it does, the Pound faces a brighter future, if it doesn't surely record lows beckon.

GBP was seen higher against a number of currencies and recovering against the Dollar following a swathe of fiscal changes announced by Chancellor Kwasi Kwarteng.

22/09/2022

Will the Pound rise or fall in the wake of today's Bank of England policy update?

If the Bank raises rates by 75 basis points - its largest hike since 1989 - and turns more optimistic on the economic outlook the currency could rise.

But this is a big ask for a central bank that has tended to undershoot market expectations and place heavy emphasis on the downside risks facing the economy.

Bank of England: Scenarios determining whether Pound Sterling rises or falls against the Euro and Dollar.

16/09/2022

The Pound to Dollar exchange rate fell to its lowest level since 1985 on Friday at 1.1350 after it was reported UK retail sales contracted 1.6% on the month to August, leaving economists to suggest the UK economy is already in recession.

The headwinds facing the British Pound are "very strong" according to new analysis from Rabobank, which forecasts the printing of fresh 2022 lows against the U.S. Dollar within weeks.

16/09/2022

The Pound-Euro exchange rate fell as low as 1.1433 on Friday following the release of poor UK retail sales figures and the direction of travel remains very much towards the downside.

Pound Sterling is set to complete a third successive weekly decline against the Euro.