GBP Exchange Rate News: Pound Gains as the Conservatives Dominate in the Polls

Pound (GBP) Spikes as Tories Dominate the Polls

The Pound (GBP) briefly rallied during yesterday’s session as the latest polling data indicated a likely Conservative victory.

This comes in spite of Labour launching its manifesto, which it claimed would be its most ambitious plan to transform the UK economy in decades.

Looking ahead, the publication of the UK’s latest PMI figures may provide a momentary distraction from domestic politics this morning, but with the UK’s private sector expected to have stagnated this month the data could weaken the Pound.

GBP/EUR Exchange Rate Strengthens on Gloomy Consumer Confidence

The Pound Euro (GBP/EUR) exchange rate drifted higher yesterday as the Eurozone’s consumer confidence index revealed household sentiment remained broadly negative in November.

Potentially weighing on the Euro today will be the Eurozone’s own PMI figures, which are expected to show the bloc’s manufacturing sector remains in the doldrums.

Christine Lagarde’s first speech as President of the European Central Bank (ECB) will also be scrutinised on hopes she may drop some hints on her plans for monetary policy in 2020.

GBP/USD Exchange Rate Fluctuates on Mixed Trade Headlines

The Pound to US Dollar (GBP/USD) exchange rate initially edged higher on Thursday as the safe-haven ‘Greenback’ was undermined by reports the US may delay tariffs due to kick in next month.

However, subsequent headlines from China caused risk appetite to weaken again after Beijing warned the Hong Kong bill recently passed by the Senate could impede talks.

On the docket today is the final print of the US consumer sentiment index, which could offer some support to the US Dollar as economists forecast consumer confidence will have seen a modest improvement this month.

GBP/CAD Exchange Rate Dented, BoC Deems Current Policy Appropriate

The Pound to Canadian Dollar (GBP/CAD) exchange rate stumbled on Thursday following a speech by Bank of Canada (BoC) Governor Stephen Poloz.

Poloz suggested the BoC’s monetary policy is ‘about right’ given the current conditions, suggesting the bank is planning to keep rates on pause for the time being.

GBP/AUD Exchange Rate Firms as Australia’s Private Sector Shrinks

The Pound to Australian Dollar (GBP/AUD) exchange rate edged higher overnight on Thursday as Australia’s latest PMI figures showed that the country’s private sector contracted in November.

GBP/NZD Exchange Rate Buoyed by US-China Trade Uncertainty

The Pound to New Zealand Dollar (GBP/NZD) exchange rate also trended higher overnight, with the conflicting headlines regarding US-China trade limiting the appeal of the risk-sensitive ‘Kiwi’.

Matthew Andrews

Contact Matthew Andrews


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