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Spot Exchange Rate History:
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The British Pound took a battering at the hands of Bank of England Governor Mark Carney overnight, confirming that Bank of England interest rate expectations remain a key driver of Sterling.
Pound Sterling took a hammering after London markets closed on Thursday, April 19 after Bank of England Mark Carney cooled expectations for a May interest rate rise.
Economists at Bank of America Merrill Lynch Global Research believe that the UK data pulse seen over recent months suggests the Bank of England is unlikely to deliver two interest rate rises in 2018.
Sterling continues its rally to range highs versus the Euro and the Dollar after encouraging statements from leading economist.
UK economy watchers were given reasons for cheer Wednesday after a key survey by the Bank of England showed wages picking up during the first quarter, although the implications for interest rates may be less straightforward than the headline numbers appear to suggest.
The Pound was boosted during late morning and noon trading Friday after the Monetary Policy Committee member Gertjan Vlieghe told an audience at a Confederation of British Industry (CBI) event the current robust state of the UK labour market probably warrants a sustained tightening cycle from the Bank of England (BoE).
Two members of the Bank of England's Monetary Policy Committee vote to raise interest rates in the March meeting.
Markets are expecting no change to interest rates at the March 2018 Bank of England Monetary Policy Committee meeting, however, expectations for a May interest rate rise are running close to 90% at the time of writing.
The Bank of England will announce its latest interest rate decision at 12:00 pm Thursday 22, March while providing an updated outlook for the economy and monetary policy in the UK.
Britain's interest rates will rise gradually but Brexit remains the biggest uncertainty, Governor of the Bank of England Mark Carney told a sitting of the UK Parliament's Treasury Select Committee.
Brexit-related risks are clearly a threat for Sterling, but today focus will be on speeches from two Bank of England decision makers.
Coverage of the Bank of England's interest rate decision, the minutes covering the latest MPC meeting, the quarterly Inflation Report and Governor Mark Carney's press conference.
The Pound-to-Euro exchange rate is said to be biased towards further weakness as the Bank of England is likely to fall short of market expectations this Thursday.
Analysts at RBS expect the MPC’s guidance to edge in a ‘hawkish’ direction - what are the implications for the British Pound?
"I consider it likely that interest rates will need to rise further over time"
Analysts give their views on the Bank of England's latest interest rate decision and monetary policy statement.
Brexit talks are the main event into year-end but, some say, interest rates will take centre stage again in 2018. Here's what that means for the Pound Sterling:
In one scenario - where the global debt bubble pops - the British Pound could fall 27%.
The Bank of England have just released their Agents’ summary of business conditions - the report offers a snapshot of investment intentions amongst British businesses and is a key reference for policy makers at Threadneedle Street.
We cover the British Pound's reaction to the Bank of England's November policy decision, Inflation Report bringing the views of the most prominent analysts in the financial sector.