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Weekly Market Analysis November 20th 2017  |
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GBP rebounds despite chaos in Downing Street In a sign that even political turmoil in the UK is just considered ‘business as usual’ now, the pound managed to rack up some notable gains last week versus its major peers. Sterling is on rosy form today, with GBP/EUR up 0.4% to €1.1243, while GBP/USD has climbed 0.3% to US$1.3257. There’s plenty to keep the supposedly stable GBP, EUR and USD roiling this week, including the UK Budget and monetary policy meeting minutes from the European Central Bank (ECB) and the Federal Open Market Committee (FOMC). |
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Today's Rate The rates above are using the British pound (GBP) as the base rate. All rates are for indication purposes only. Prices can vary dramatically based on amount and delivery date. |
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| | "Markets will be looking for economically-friendly policies from the Budget on Wednesday; the pound could therefore fall if Hammond looks set to continue cutting spending with no additional investment."  Transfer 24/7 with our currencies direct app   |
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The only way is up? Pound exchange rates climb despite UK political turmoil Pound Sterling largely ended the week higher versus its peers, although the first half was fraught with turbulent developments that threatened to derail GBP exchange rates. |
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Euro firms as Eurozone economic outlook keeps brightening A week of forecast-beating data for the Eurozone pushed the euro higher against most of its regular currency peers last week. The economic outlook for the currency bloc looks rosy, but will the coming week’s monetary policy communications be as uplifting? |
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Fed hike odds keep USD exchange rates contained The US dollar was on mixed form over the past week, with the huge odds of an interest rate hike next month preventing it from trending too widely. USD was in the backseat in most of its pairings, being pushed higher or lower in response to the weakness or strength of other currencies. |
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Losses for AUD and NZD as risk appetite evaporates Both the Australian dollar and New Zealand dollar slid lower last week. A general lack of meaningful domestic data gave markets little reason to buy into AUD or NZD while global risk appetite cooled. |
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