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Exchange Rate News:

Brexit Concerns and UK Retail Data Keep Pound (GBP) Unappealing - (19th October 2017)
Sterling (GBP) Static Despite Stronger-than-Expected Wage Data - (18th October 2017)
UK Inflation Rises to 3% in September, Pound Gains - (17th October 2017)
Hopes for Brexit Keep Pound (GBP) Buoyant - (16th October 2017)
Brexit Hopes from EU Negotiators Help Sterling (GBP) Soar - (13th October 2017)
Pound (GBP) Down from Weekly Highs - (12th October 2017)
Sterling (GBP) Stutters as UK Trade Data Disappoints - (11th October 2017)
Hopes for Reasserted UK Leadership Boosts Pound (GBP) - (10th October 2017)
Sterling (GBP) Recovers from Conservative Leadership Losses - (9th October 2017)
Pound Tumbles on May Speech, BoE Warning and Car Sales Slowdown - (5th October 2017)
Pound Prints Higher on Surprise UK Services Growth - (4th October 2017)
Pound Drops on UK Construction Contraction - (3rd October 2017)
Pound Down on UK Manufacturing PMI - (2nd October 2017)
UK Data Fails to Support Sterling (GBP) - (29th September 2017)

Currency News

11th October 2017 - Exchange Rates News written by TorFX for Exchange-Rates.com

Today's News: Sterling (GBP) Stutters as UK Trade Data Disappoints

Pound Sterling (GBP)

Demand for the Pound fluctuated on Tuesday due to mixed results from the latest UK ecostats and persistent political uncertainties.

Britain’s August manufacturing and industrial production results beat expectations year-on-year, as did the construction output figure.

However, the August trade deficit unexpectedly deepened, from a revised £-4.24b to £-5.63b. This disappointing report dashed hopes that the low value of the Pound was making UK exports more appealing to foreign buyers.

Investors still remain concerned about the stability of Britain’s leadership, as well as the lack of progress in Brexit negotiations. However, if Brexit talks show signs of developing, Sterling could strengthen.

US Dollar (USD)

The Pound to US Dollar exchange rate continued to recover from its monthly lows throughout Tuesday. Its advance slowed on Wednesday due to anticipation for the Federal Reserve’s latest meeting minutes report; due for publication on Wednesday evening.

Depending on the tone the Fed takes in the minutes report, GBP/USD could either continue to advance or shed some of this week’s gains.

If the Fed takes a hawkish tone and indicates more confidence in the possibility of a third 2017 interest rate hike, the US Dollar could push Sterling lower.

Euro (EUR)

The Pound to Euro exchange rate reversed recent gains on Tuesday, largely due to concerns about Britain’s trade deficit.

Despite market anxiety about how the Catalonian independence debate could end up, the shared currency remained strong throughout the day.

The Euro saw stronger demand on Tuesday morning and Wednesday morning, as markets expressed relief that Catalonia leader Carles Puigdemont appeared to edge away from declaring independence and instead pledged to negotiate with Spain’s government.

Australian Dollar (AUD)

The Pound to Australian Dollar is managing to remain within touching distance of Monday’s best levels.

Sterling was unable to advance much further due to concerns about Britain’s political outlook and trade stats, while the Australian Dollar was unable to push GBP/AUD lower amid low expectations for any Reserve Bank of Australia (RBA) hawkishness any time soon.

The ‘Aussie’ was little effected by Wednesday’s Australian ecostats, which saw the Westpac consumer confidence index improve from 97.9 to 101.35 in October.

New Zealand Dollar (NZD)

The Pound to New Zealand Dollar exchange rate climbed throughout Tuesday’s session, reaching its best levels in around a fortnight. Sterling has been able to easily capitalise on the ‘Kiwi’ this week, as NZ political uncertainty and low demand for risk-correlated currencies weigh on the antipodean currency.

Canadian Dollar (CAD)

The Pound to Canadian Dollar exchange rate edged higher yesterday, despite rising speculation that the oil market is finally rebalancing.

However, uncertainty remains about how the commodity will fare in 2018 and this has limited the Canadian Dollar’s potential commodity-correlated gains.

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