Pound Sterling (GBP) Exchange Rate Lifted by UK Borrowing Figures
The Pound (GBP) exchange rate was able to find some tentative gains against the majority of its peers on Tuesday as the currency was strengthened by the latest UK borrowing figures.
The Office for National Statistics (ONS) reported government borrowing shrank to £42.6bn over the last financial year, easily beating expectations and helping the Pound to begin recoup some of its recent losses.
GBP/EUR Exchange Rate Climbs as German Business Confidence Slides
The Pound Euro (GBP/EUR) exchange rate edged higher yesterday as German business leaders appeared increasingly concerned about international trade tensions.
The Euro felt the drag of declining business confidence yesterday as Germany’s business climate index tumbled from 103.3 to 102.1 in April, suggesting Europe’s largest economy remains on an unsure footing going into the second quarter.
GBP/USD Exchange Rate Recovers from Recent Lows
The Pound to US Dollar (GBP/USD) exchange rate rallied from a one-month low yesterday on suggestions that the recent sell-off of GBP may have been overdone.
However Sterling still struggled to make any real headway as the US currency was bolstered by some strong housing data and better-than-expected consumer confidence figures.
GBP/CAD Exchange Rate Muted Despite Uptick in Oil Prices
The Pound Canadian Dollar (GBP/CAD) exchange rate continued to hold steady on Tuesday, with the Canadian Dollar struggling to find any gains as growing risk aversion and ongoing concerns over US trade policy offset a marked rise in oil prices as Brent crude rose over $75 a barrel.
GBP/AUD Exchange Rate Strengthened as Market Risk Appetite Continues to Wane
The Pound Australian Dollar (GBP/AUD) exchange rate ticked higher on Tuesday as the recent bullish turn of the US Dollar continued to pressure market risk appetite, while volatility in iron ore prices also did little to bolster the appeal of the ‘Aussie’.
GBP/NZD Exchange Rate Rockets Higher on RBNZ Concerns
The Pound made its strongest gains against the New Zealand Dollar (NZD) yesterday, with the pairing soaring around 0.6% higher as growing concerns over the divergence in monetary policy between the Reserve Bank of New Zealand (RBNZ) and other major central banks, weighed heavily on the ‘Kiwi’.