Pound US dollar exchange rate: GBP/USD soars by 1.9 percent on UK-EU Brexit breakthrough

1189576_1

The pound US dollar exchange rate soared by over 1.9 percent today, with the pairing currently trading around $1.264 after the EU’s Chief Brexit Negotiator, Michael Barnier described a “constructive meeting” with the UK Brexit Secretary Steve Barclay. Today also saw the EU27 give the greenlight on “tunnel” negotiations ahead of the EU summit next week. Simply The Best 7 Days A Week

Read More

Pound US Dollar exchange rate: expectations for October Fed rate cut buoys GBP/USD

1189089_1

The pound rose against the US dollar this afternoon with the pairing currently trading at around $1.226 as the ‘greenback’ slumped on September data revealing the weakest US inflation reading since January. With US data also revealing a retreat in underlying inflation, expectations for another near-term Federal Reserve rate cut increased. Simply The Best 7 Days A Week

Read More

Pound euro exchange rate: GBP/EUR eases despite Brexit recession fears being ‘put to bed’

1189051_1

The pound euro exchange rate eased today, with the pairing currently trading around €1.109 after the UK’s growth figure for August fell from 0.4 percent to 0.1 percent. John Hawksworth, the Chief Economist at PwC, said that today’s figures had “put to bed” fears for a recession in the third quarter of 2019, but urged caution, warning of a problematic fourth quarter “as heightened Brexit-related uncertainty [is likely to take] a toll on both business investment and consumer confidence”. Simply The Best 7 Days A Week

Read More