Dollar Exchange Rate News

The Pound to Australian Dollar exchange rate held steady today following the release of the latest UK factory output and orders data, which surged at its quickest rate since 1974. The pairing is currently fluctuating around AU$1.86. Rain Newton-Smith, the chief economist at CBI, however warned: ‘Businesses have already endured a prolonged period of inhibited demand, so it is vital that government now takes all possible steps to protect this resurgence in activity.’ Today also saw the Bank of England’s (BoE) deputy governor,...

The Pound Euro exchange rate rose today despite the latest Eurozone inflation gauge for May confirming forecasts and rising by 0.2%. The pairing is currently trading around €1.16. Analysts at Reuters commented: ‘A sharp spike in energy prices and more expensive services boosted euro zone consumer inflation in May as expected … taking the rate of price growth just above the European Central Banks target.’ However, the Euro has struggled from a weaker-than-expected Eurozone wage growth figure, which slowed to 2.2% in the...

The Pound New Zealand Dollar (GBP/NZD) exchange rate fell by -0.2% despite the Reserve Bank of New Zealand’s (RBNZ) hawkish bias this week by forecasting a possible rate hike next year. The pairing is currently trading around NZ$1.93. The New Zealand Dollar’s gains against the Pound – which shot up by 1% yesterday – proved to be short-lived as New Zealand-China trade relations continue to show signs of souring. New Zealand’s foreign minister Nanaia Mahuta warned about growing tensions between New Zealand and Beijing,...

The Pound Australian Dollar exchange rate rose today following yesterday’s release of the latest Australian inflation gauge. The nation’s inflation figure rose less than expected, dampening confidence in Australia’s economic recovery. The pairing is currently trading around AU$1.79. Sarah Hunter, chief economist for BIS Oxford Economics, commented: ‘Core inflation is likely to remain weak for some time. Wages growth remains subdued and demand for many services is still recovering to pre-pandemic levels, which will limit any...

Despite Canadian Dollar weakness earlier in the week, the currency experienced a fresh surge in demand after yesterday’s Bank of Canada (BoC) policy decision and the British Pound to Canadian Dollar (GBP/CAD) exchange rate plummeted again. Since opening this week at the level of 1.7305, GBP/CAD has been trending with an upside bias as the Canadian Dollar continued to sold back from recent highs. GBP/CAD surged earlier in the week, and on Tuesday night touched on a high of 1.7584. This was the best level for the pair in a month....

While the Pound struggled to mount much of a recovery against other major currencies this week, the Pound to US Dollar (GBP/USD) exchange rate has been gradually advancing. The Pound is benefitting from weakness in the US Dollar. Last week saw GBP/USD tumble from the level of 1.3830 down to 1.3705, as the Pound was sold in a bout of profit-taking. After touching near a monthly low at the beginning of this week, GBP/USD has been trending with an upside bias again. The Pound is taking advantage of the US Dollar’s weakness despite...

The past week has seen both the Pound and US Dollar sold from their best levels, but the British Pound to US Dollar (GBP/USD) exchange rate is tumbling as the Pound was hit particularly hard by a shift in market appetite. Both currencies have seen strong movement in recent weeks, leading to GBP/USD volatility. Last week, GBP/USD dipped before ultimately advancing from the level of 1.3790 to 1.3830. This week’s movement has been even more volatile. GBP/USD touched on a fortnight best of 1.3918 earlier in the week, before tumbling...

Despite fresh signs of resilience in the Eurozone economic outlook, the Euro to US Dollar (EUR/USD) exchange rate has been struggling to recover from this week’s lows as the US Dollar remains broadly appealing in comparison. Unless upcoming US data disappoints investors, the Euro may have a difficult time mounting a more solid recovery. Since opening this week at the level of 1.1771, EUR/USD has been struggling to hold its ground. EUR/USD tumbled in the middle of the week and hit a low of 1.1704 - the worst level for the pair all...

The British Pound to US Dollar (GBP/USD) exchange rate has been tumbling this week, as investors seeking safer assets buy the US Dollar against a weaker Pound. While the pair flounders near lows, markets await tomorrow’s key UK and US data. Since GBP/USD opened this week at the level of 1.3869, the pair has been trending with a bearish bias. GBP/USD touched on a low of 1.3673 this morning, the pair’s worst level since the beginning of February over a month and a half ago. At the time of writing, Sterling is steadying slightly....

After trending lower for half of the week, the British Pound to US Dollar (GBP/USD) exchange rate has been attempting to climb since last night’s Federal Reserve decision. However, today’s Bank of England (BoE) decision did little to bolster Sterling higher. Since opening this week at the level of 1.3921, GBP/USD has seen mixed movement. GBP/USD neared March lows earlier in the week, before rebounding last night and nearing March highs today. Before the Bank of England policy decision, GBP/USD touched just below the key level...