Daily Forex Commentary

14 December 2017 - USD falls sharply after FOMC. GBP mixed after last night’s Govt defeat. BoE and ECB meetings at lunchtime today.

By Nick Parsons
As Wednesday drew to a close, a quick look at the GBP/USD exchange rate would suggest it had been a good day for the British Pound. read more

12 December 2017 - USD rallies as stock markets reach fresh all-time highs. GBP awaits CPI figures for direction, NZD extends gains to 4-week high

By Nick Parsons
It is a rare day when Brexit doesn’t make the lead story on the front page of the major UK newspapers but that’s the situation this morning and one which will doubtless bring some relief in Downing Street. read more

11 December 2017 - USD breaks its 5-day winning streak

By Nick Parsons
Monday 11 December British Pound (GBP) As a new week begins, let’s remind ourselves about Friday’s moves in the GBP. We’l... read more

08 December 2017 - UK and EU agree “sufficient progress” has been made to move onto next phase of Brexit talks; GBP extends rally

By Nick Parsons
The British Pound began the latest leg of its move higher around 11.30am London time on Thursday and from its low of USD1.3333 it rallied almost two cents to an overnight high of 1.3512; not quite matching last Friday’s high of 1.3542. read more

07 December 2017 - GBP fortunes still depend on Irish border news, AUD and NZD both lower

By Nick Parsons
The pound is again lower this morning. In a Press Conference yesterday, Irish Prime Minister Leo Varadkar said that Theresa May had told him she would come back with fresh proposals late on Wednesday or Thursday. read more

06 December 2017 - GBP ponders the Irish question, AUD softer after GDP figures, Bank of Canada meets today

By Harriet Easton
It is tempting to wonder whether England’s performance on last day of the second Ashes test might be a metaphor for this week’s Brexit negotiations; acres of newsprint taken up with the possibility of a victory then a sudden and dramatic collapse leaving read more

05 December 2017 - GBP lower as Prime Minister May struggles to find answer Irish question

By Nick Parsons
The pound opens this morning down at USD1.3433, having on Monday traded as high as 1.3548 before news that Theresa May was unable to offer an agreement on the Irish border issue to European Commission President Jean-Claude Juncker read more

04 December 2017 - GBP lower as Prime Minister May heads to Brussels for key Brexit meeting

By Nick Parsons
The pound opens lower this morning after its wild ride last week; falling to USD1.3230 on Tuesday afternoon then jumping over three cents to a best level on Friday of 1.3540. read more

01 December 2017 - GBP steady ahead of manufacturing PMI data and Irish Brexit news

By Nick Parsons
It is certainly unusual not to begin the London comment by noting how much the pound has gone up overnight. read more

30 November 2017 - GBP gains extended on reports of Irish agreement, NZD tumbles

By Nick Parsons
After Turnaround Tuesday and Wonderful Wednesday for the British Pound, Thursday is shaping up for more positive alliteration as the GBP again opens higher against every major currency read more

29 November 2017 - GBP surges on EU Divorce Deal: USD lifted by fresh stock market highs

By Nick Parsons
The pound had a quite remarkable Tuesday, falling sharply against every major currency for 18 hours then regaining all its losses and more in the space of just 20-30 minutes on headlines that “Britain and EU Agree Divorce Bill”. read more

28 November 2017 - GBP weighed down by fresh Brexit row

By Nick Parsons
In a generally quiet Asian session, the GBP traded pretty much sideways against most currencies, falling a little against the AUD and a bit more against the NZD. read more

27 November 2017 - GBP slips as Irish Question dominates Brexit talks

By Nick Parsons
England’s cricketers didn’t last until lunch on the fifth day of the first Ashes test and the GBP has followed their downward trajectory: its’ positive momentum of last Thursday now fading under the relentless pressure of the Brexit timetable. read more

24 November 2017 - GBP losing support after further examination of Budget

By Nick Parsons
A sequence of 1.4, 1.3, 1.3, 1.5 and 1.6 would be a pretty dire set of marks in ice-skating or gymnastics. As a set of GDP forecasts, it is equally grim. read more

23 November 2017 - USD dumps after Fed Minutes; can GBP hold its gains?

By Nick Parsons
The pound had a pretty mixed day on Wednesday – up against the USD and AUD but down slightly against the EUR, CAD and NZD – after UK Chancellor Philip Hammond delivered his annual Budget speech to the House of Commons. read more

22 November 2017 - GBP steady ahead of UK Budget, CAD jumps with oil prices

By Nick Parsons
The big event for Wednesday is obviously the UK Budget, delivered by Chancellor of the Exchequer Philip Hammond. read more

20 November 2017 - EUR falls after failure of German Coalition talks

By Nick Parsons
The British Pound opens a after a good week which saw GBP/USD begin at 1.3130, move up to a high of 1.3250 on Friday, and then end at 1.3220. read more

17 November 2017 - GBP ends the week on a high note; AUD and NZD slump

By Nick Parsons
The British Pound couldn’t quite get to 1.32 in the Northern Hemisphere yesterday but when it did finally reach this level in Sydney overnight, it pretty quickly added another 40 pips or so to be the strongest currency in the Asia session. read more

16 November 2017 - GBP flat ahead of retail sales data

By Nick Parsons
It has been a much calmer session overnight for the British Pound, which traded in an exceptionally tight range between USD1.3168 and 1.3180 for just over 12 hours. read more

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