currency news explains the main events and factors affecting the major exchange rates around the world including the Pound, Euro, US Dollar, Australian Dollar, New Zealand Dollar and Canadian Dollar. has partnered with TorFX to bring you competitve international money transfers. Sign up with TorFX today. Send money abroad with TorFX Currency Exchange the recommended money transfer company by

Latest Currency Headlines

Sterling (GBP) Knocked off Highs by Surprising Fall in UK Retail Sales - (19th January 2018)
Canadian Dollar (CAD) Plunges Despite Bank of Canada (BOC) Interest Rate Hike - (18th January 2018)
UK Inflation Fails to Inspire Sterling (GBP) Strength - (17th January 2018)
Pound Exchange Rates Falter Despite UK Inflation Falling Back to 3% - (16th January 2018)
‘Soft Brexit’ Hopes Fail to Boost Pound (GBP) against Strong Euro (EUR) - (15th January 2018)
European Central Bank (ECB) Teases With More Hawkish Stance - (12th January 2018)
NAFTA Concerns Lead to Canadian Dollar (CAD) Plummet - (11th January 2018)

More currency news: Visit exchange rate news archive

29th November 2017 - Exchange Rates News written by TorFX for

29th November 2017 News: Brexit Bill News Helps Sterling (GBP) Soar

Pound Sterling (GBP)

The Pound put on a mixed performance on Tuesday as investors were concerned about issues surrounding the Irish border. However, in the evening it was announced that the UK and EU had finally agreed to the terms of Britain’s financial ‘divorce bill’ settlement.

After months of this issue causing a ‘deadlock’ in Brexit talks, the UK government agreed to pay around £50b. The exact figure of the bill has not been revealed, but the news was enough to boost Sterling.

Despite the Pound’s rally, however, concerns remain about Ireland’s border. If the border issue is not resolved by the EU’s Monday deadline, UK-EU trade negotiations will be delayed.

US Dollar (USD)

The Pound to US Dollar exchange rate tumbled on Tuesday afternoon as investors digested comments from Federal Reserve Chair Nominee Jerome Powell.

Investors were relieved by Powell’s statements that he would likely continue outgoing Chairwoman Yellen’s central banking style. He also indicated that interest rates would likely rise somewhat further, but the bank needed to respond appropriately to financial stability issues.

The US Dollar’s gains from his comments were limited, as he also indicated that he isn’t averse to loosening monetary policy.

Euro (EUR)

The Pound to Euro exchange rate dipped to its worst levels in around a fortnight on Tuesday afternoon, before surging following reports that the UK-EU Brexit divorce bill had finally been agreed. On Wednesday morning, GBP/EUR trended near its best levels in three weeks.

Demand for the Euro has been mixed. While Eurozone ecostats continue to show the bloc’s economy is going from strength to strength, market uncertainty remained about Germany’s political situation.

Full-scale ‘grand coalition’ negotiations between Chancellor Merkel’s CDU and the SPD Party are unlikely to begin until the New Year, meaning Germany will be spending an extended period without a working government.

Australian Dollar (AUD)

The Pound to Australian Dollar exchange rate surged overnight to trend near its best levels in over a year on Wednesday morning. GBP/AUD trended near its best levels since the days following the key Brexit vote in 2016.

However, the Pound’s continued strength relies heavily on Britain meeting an EU-imposed deadline. If the UK government cannot settle its Brexit divorce offers by the 4th, including plans for the Northern Ireland border, Sterling could easily plummet again.

New Zealand Dollar (NZD)

Following Tuesday evening’s Brexit news, GBP/NZD recovered most of its weekly losses and trended nearer the week’s opening levels again.

Amid speculation that New Zealand’s coalition government may soften some economic reform stances, the New Zealand Dollar continues to see solid demand, which is helping the currency hold its ground against a strong Pound.

Canadian Dollar (CAD)

The Pound to Canadian Dollar exchange rate jumped to its best levels in over five months on Tuesday evening and Wednesday morning.

Tuesday saw the Bank of Canada (BOC) hold a press conference at which Governor Stephen Poloz indicated that the economy was improving enough for rate cuts to remain ‘off the table’. However, investors still don’t expect the bank to hike Canada’s interest rates again in the next few months amid disappointing Canadian retail growth data.

Currency Exchange

Currency exchange coming soon... Click here to download the app for the Apple iPhone.