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Sterling (GBP) Traders Await Theresa May’s Brexit Speech - (22nd September 2017)
Sterling (GBP) Strengthens on Strong UK Retail Data - (21st September 2017)
Strong UK Retail Stats Boost Sterling (GBP) - (20th September 2017)
Uncertainty Rises Over Bank of England (BoE) Hawkishness - (19th September 2017)
Sterling Slips from Highs after Last Week’s Bank of England Optimism - (18th September 2017)
Sterling (GBP) Surges on Bank of England Rate Hike Bets - (15th September 2017)
Pound (GBP) Investors Anticipate Bank of England (BoE) Meeting - (14th September 2017)
Bank of England (BoE) Speculation Flares on Strong UK Inflation Report - (12th September 2017)
Sterling (GBP) Recovers from Recent Lows - (11th September 2017)
Euro (EUR) Stronger on ECB President Draghi’s Press Conference - (8th September 2017)
Canadian Dollar Holds onto Gains after Surprise BOC Rate Hike - (7th September 2017)
German Retail PMI Rebound Boosts Euro Exchange Rates - (6th September 2017)
Sterling (GBP) Pressured by Construction and Services Data - (5th September 2017)
Sterling (GBP) Benefits from Rival Weakness, Euro (EUR) Traders Await ECB - (4th September 2017)

Currency News

11th September 2017 - Exchange Rates News written by TorFX for

Today's News: Sterling (GBP) Recovers from Recent Lows

Pound Sterling (GBP)

The Pound was boosted at the end of last week by some notable economic stats. Manufacturing production beat expectations in both monthly and yearly prints in July, while June’s trade deficit was revised.

Investors were also encouraged by NIESR’s Q3 Gross Domestic Product (GDP) projection for Britain. According to NIESR, growth for the three months into August should come in at 0.4%, double the 0.2% rate for the three months into July.

US Dollar (USD)

The Pound to US Dollar exchange rate saw a strong advance last week. Sterling was able to easily recover against a weak US Dollar, as Fed rate hike bets remained low and US data did little to make investors more hawkish on the currency.

Recent notable US ecostats, such as non-manufacturing PMIs from ISM and Markit, fell short of projections. The latest US jobless claims results disappointed too.

On top of this, Fed rate hike bets have essentially been unmoving in recent sessions. Bets that the Fed will leave rates frozen until 2018 remain at around 67%. Some industry experts believe that the Fed may become even more cautious due to the damage caused by powerful Hurricanes over the last month.

Euro (EUR)

The Pound to Euro exchange rate advanced last week. Despite dipping after the European Central Bank’s (ECB) September policy decision, the pair was boosted further by Friday’s UK data.

News that the ECB is likely to make major decisions on monetary policy during its October meeting has given Euro hawks much to look forward to, but until then the overvalued currency’s potential for gains is limited.

Australian Dollar (AUD)

The Pound to Australian Dollar exchange rate recovered slightly last week as Australia’s latest ecostats gave traders little reason to continue buying the overvalued ‘Aussie’.

Australia’s Q2 Gross Domestic Product (GDP) improved, but failed to meet some of the more hawkish market projections. Australia’s August construction PMI, and retail sales and trade surplus reports for July all fell short of expectations.

Overall, the ‘Aussie’ was volatile but failed to hold its ground against a recovering Pound.

New Zealand Dollar (NZD)

The Pound to New Zealand Dollar exchange rate has seen wide fluctuations over the past seven days, but Sterling ultimately recovered slightly by the weekend after a big Friday dip.

Market jitters about potential missile tests from North Korea caused NZD weakness before markets closed on Friday. However, markets cooled on Monday morning as North Korea took no new surprising action. This bolstered risk-sentiment slightly.

Canadian Dollar (CAD)

The Pound to Canadian Dollar exchange rate ended last week slightly below opening levels. This was impressive as the ‘Loonie’ saw a burst of demand following the Bank of Canada’s (BOC) surprising interest rate hike, which briefly sent GBP/CAD to its lowest levels since January.

GBP/CAD recovered from its lows on Friday due to Sterling’s recovery efforts, but the Canadian Dollar remains in demand.

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