Currency Converter

Currency Converter



Wednesday, May 31, 2023

Pound US Dollar Exchange Rate News: GBP/USD Wavered on Shifting Market Sentiment

US Dollar (USD) Undermined by Debt Limit Fears The US Dollar (USD) traded sideways on Monday amid a lack of economic data. External factors appeared to influence the ‘Greenback’ as geo-politics and the ongoing debt limit negotiations concerned investors. President Joe Biden reported that relations between the...

* This article was originally published here

Wednesday, May 24, 2023

Pound Euro Exchange Rate News: GBP/EUR Climbed as BoE Hikes Rates to Highest Level Since 2008

Pound (GBP) Rallied as BoE Hikes Cash Rate to Highest Level since 2008 The Pound (GBP) firmed on Thursday as the Bank of England (BoE) continued their battle against inflation as they raised the interest rate to its highest level in 15 years. The central bank met expectations and raised the interest rate for the...

* This article was originally published here

Friday, May 19, 2023

Pound US Dollar Exchange Rate News: GBP/USD Climbed as Markets Brace for Fed Interest Rate Decision

US Dollar (USD) Undermined by Expectations of Final Rate Hike The US Dollar (USD) struggled for demand, despite expectations of a 25bps interest rate hike at the Federal Reserve policy meeting late on Wednesday. But with many believing it to be the final rate hike before a pause, the ‘Greenback’ lost demand. Jim...

* This article was originally published here

Monday, May 15, 2023

Pound Euro (GBP/EUR) Exchange Rate Falls amid Sharp Retail Sales Drop

Pound Euro (GBP/EUR) Exchange Rate Falls amid Sharp Retail Sales Drop The Pound Euro (GBP/EUR) exchange rate weakened on Friday, as a sharp drop in UK retail sales weighed on GBP investors. At the time of writing, GBP/EUR traded at around €1.1304, a decline of roughly 0.4% from Friday’s opening...

* This article was originally published here

Thursday, May 11, 2023

Pound US Dollar Exchange Rate News: GBP/USD Rangebound Ahead of US Inflation Data

US Dollar (USD) Choppy Ahead of Crucial Inflation Data The US Dollar (USD) endured mixed trading conditions on Wednesday as investors move to the sidelines in anticipation of key headline CPI data. With inflation set to remain unchanged at 5% after nine consecutive months of cooling CPI readings, a...

* This article was originally published here

Tuesday, May 9, 2023

Pound US Dollar Exchange Rate News: GBP/USD Firmed as US Data Disappoints

US Dollar (USD) Soured amid Downbeat Economic Data The US Dollar (USD) struggled for demand despite a cautious market mood. Another run of poor economic data disappointed, potentially curbing further interest rate hike bets from the Federal reserve. Preventing further losses are the maintained hawkish rhetoric from Fed...

* This article was originally published here

Monday, May 8, 2023

ECB Interest Rate Increased by 25 Basis Points

The Governing Council of the European Central Bank has hiked its repo, deposit, and marginal lending facility rates by 25 basis points each to 3.75%, 3.25%, and 4.0%. Today’s action represents a further reduction of incremental tightening after a trio of 50-bp hikes in December, February and March and before that hikes of 50 bps […]

* This article was originally published here