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British Pound PRICE Today

The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the Canadian Dollar.

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).

Created on November 15, 2024

• The US dollar initially rallied a bit during the course of the trading session on Thursday as we reached the 156 level and peaked above there but have since pulled back ever so slightly.
• At this point, I think this remains a buy on the dip market.
• This has been the pay for some time, and I think it will continue to be going into the future at this point. The interest rate differential has been a great way to pad your account for some time.

So, you need to keep that in mind, but we are a little stretched. So, it’s not a huge surprise to see a little bit of give back in the middle of the day. Regardless, there’s almost no way you can short this pair because the interest rate differential alone will destroy your account. The interest rates in. The United States continue to climb. And until that changes, there’s really no hope for the Japanese in as the Bank of Japan has no recourse for tightening monetary policy.

The Debt of Japan is the Real Issue Here

Quite frankly, it’s obvious to all involved that the Japanese economy is so far in debt, there’s no way it can hang on to that debt and pay a reasonable interest rate. So, with that being said, the Bank of Japan can’t get too aggressive with tight monetary policy. short term pullbacks, I think will continue to attract a lot of attention. And therefore, I like the idea of buying dips. We’ve recently had the so-called golden cross. That’s when the 50 day EMA breaks above the 200 day EMA. So, some longer term traders probably got involved as well. Nonetheless, I do think we’re going to go looking to the 160 yen level eventually. It probably will take some time to get there, but I do think that is our destination.

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Created on November 15, 2024

• During my daily analysis of the EUR/USD pair, the first thing that I notice is the fact that we have bounce from a crucial large, round, psychologically significant figure in the form of the 1.05 handle.
• This is an area that’s been important multiple times, so I think you need to be cognizant of this potential floor, as it’s possible that we could see the market try to make a big stand here.

Regardless, it’s obvious that the euro is oversold against the greenback, and I can make an argument that the greenback is overbought against almost everything else as well. With that being said, the market is likely to continue to see a lot of US dollar strengthen over the longer term, but in the short term I do think that little bit of a bounce makes quite a bit of sense. In fact, we could bounce all the way to the 1.0750 level without changing much in this pair.

Interest rates in America continue to skyrocket, and that of course makes the US dollar much stronger. Furthermore, there are a lot of questions to be asked about the US economy, but with a new pro-business administration taking the reins of power in a clean sweep of not only the White House, but also the House of Representatives, Senate, and still holding the Supreme Court, it’s very likely that we will see a potential revival of the 1980s, which had seen the American economy take off quite drastically.

All things being equal, most things American have performed quite well over the last several weeks, culminating with a bit of euphoria after the election. Nonetheless, nothing goes in the same direction forever and I think that’s what we are seeing here. Would I be bullish of the euro overall against the US dollar? No, not at all. However, I do think that we had gotten so far ahead of ourselves that a bounce was almost necessary.

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Investing.com — UBS has raised its forecast for the in a note Thursday, expecting significant fluctuations in the exchange rate over the coming year.

The bank now projects the currency pair to reach 155 by December 2024, followed by 152 in March 2025, 150 in June, and 147 in September.

By year-end 2025, UBS targets 145, a revision from its earlier predictions of 147, 143, 140, and 138, respectively.

According to UBS, a near-term surge to 158-160 remains possible, especially if U.S. 10-year yields rise another 30-40 basis points, potentially hitting 4.8%.

“Based on sensitivity analysis over the past three years, a 10bp widening of the US-Japan 10-year yield differential coincides with a one-yen rise in the USDJPY exchange rate,” UBS explained.

If U.S. bond yields indeed spike to 4.8%, the bank says USD/JPY could temporarily reach 160, though they view this level as “unsustainable” and likely to invite Japanese intervention, as observed during similar peaks earlier in 2024.

UBS analysts believe the USD/JPY will face downward pressure in 2025, driven by several factors. A key factor is the anticipated Fed rate-cutting cycle, which UBS expects will lead to lower U.S. yields.

“We think current USDJPY levels are higher than justified by yield differentials,” UBS notes, estimating that the currency pair should trend toward 145-146.

Additionally, trade tensions and a potential Trump-led administration’s focus on a stronger yen may reinforce this trend.

For investors, UBS suggests that any near-term spike toward 160 could be an opportunity to “tactically sell USDJPY.” Over the long term, UBS sees multiple forces supporting a downtrend, with USD/JPY likely to end 2025 at 145.

Created on November 14, 2024

• Alongside the anticipated Trump policies – a stronger US dollar – US inflation figures came in stronger than expected.
• This brought more heavy losses to the performance of the EUR/USD currency pair, with losses extending to the support level of 1.0533.
• Historically, this is the lowest level for the currency pair in a year which it is stable near it at the time of writing the analysis.

What do US inflation figures mean for the strength of the dollar?

Undoubtedly, the rise in US inflation rates has eased the pace of monetary policy easing by the US Federal Reserve, which is positive for the US dollar against other major currencies. Conversely, the European Central Bank is adopting an easing path. The US dollar has gained in the forex market following the rise in the main US consumer price index by 0.2% on a monthly basis in October, bringing the annual rate to 2.6% from 2.4% in September. Generally, the strength of the US dollar reflects the fading expectations of future US interest rate cuts, especially as investors are prepared for inflation to remain above the Federal Reserve’s target of 2.0% for a long time.

Will the EUR/USD reach parity?

There has been increasing talk about the possibility of the EUR/USD moving to parity at 1.1. According to reliable trading platforms, the EUR/USD pair has entered a downward trend in October, with selling intensifying after the unexpectedly strong performance of Donald Trump and the Republicans in the US presidential election vote. Expectations for further collapse of the euro against the dollar have increased as Trump wants to raise tariffs on US imports, which will affect the economies of exporters such as the eurozone. As is known, the United States is the main market for exporting manufactured goods in the eurozone, while any economic blow to China from tariffs will also affect another critical market.

Meanwhile, the ruling coalition in Germany has collapsed, and Europe’s largest economy is now facing a winter of political uncertainty ahead of the February elections.

EUR/USD Technical analysis and forecast:

The overall downward trend of the EUR/USD is gaining strength with the breaking of a key support level of 1.0600. As mentioned in previous technical analyses of the currency pair that this could give bears more strength. Therefore, dear reader, you should expect more downward pressure on the euro against the dollar daily as the picture becomes clearer for the upcoming Trump policies. At the same time, the eurozone, led by Germany, is going through political and economic turbulence.

EUR/USD Buying Signals Today:

Investing.com — UBS has raised its forecast for the in a note Thursday, expecting significant fluctuations in the exchange rate over the coming year.

The bank now projects the currency pair to reach 155 by December 2024, followed by 152 in March 2025, 150 in June, and 147 in September.

By year-end 2025, UBS targets 145, a revision from its earlier predictions of 147, 143, 140, and 138, respectively.

According to UBS, a near-term surge to 158-160 remains possible, especially if U.S. 10-year yields rise another 30-40 basis points, potentially hitting 4.8%.

“Based on sensitivity analysis over the past three years, a 10bp widening of the US-Japan 10-year yield differential coincides with a one-yen rise in the USDJPY exchange rate,” UBS explained.

If U.S. bond yields indeed spike to 4.8%, the bank says USD/JPY could temporarily reach 160, though they view this level as “unsustainable” and likely to invite Japanese intervention, as observed during similar peaks earlier in 2024.

UBS analysts believe the USD/JPY will face downward pressure in 2025, driven by several factors. A key factor is the anticipated Fed rate-cutting cycle, which UBS expects will lead to lower U.S. yields.

“We think current USDJPY levels are higher than justified by yield differentials,” UBS notes, estimating that the currency pair should trend toward 145-146.

Additionally, trade tensions and a potential Trump-led administration’s focus on a stronger yen may reinforce this trend.

For investors, UBS suggests that any near-term spike toward 160 could be an opportunity to “tactically sell USDJPY.” Over the long term, UBS sees multiple forces supporting a downtrend, with USD/JPY likely to end 2025 at 145.

British Pound PRICE Today

The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the Swiss Franc.

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).

Investing.com — UBS has raised its forecast for the in a note Thursday, expecting significant fluctuations in the exchange rate over the coming year.

The bank now projects the currency pair to reach 155 by December 2024, followed by 152 in March 2025, 150 in June, and 147 in September.

By year-end 2025, UBS targets 145, a revision from its earlier predictions of 147, 143, 140, and 138, respectively.

According to UBS, a near-term surge to 158-160 remains possible, especially if U.S. 10-year yields rise another 30-40 basis points, potentially hitting 4.8%.

“Based on sensitivity analysis over the past three years, a 10bp widening of the US-Japan 10-year yield differential coincides with a one-yen rise in the USDJPY exchange rate,” UBS explained.

If U.S. bond yields indeed spike to 4.8%, the bank says USD/JPY could temporarily reach 160, though they view this level as “unsustainable” and likely to invite Japanese intervention, as observed during similar peaks earlier in 2024.

UBS analysts believe the USD/JPY will face downward pressure in 2025, driven by several factors. A key factor is the anticipated Fed rate-cutting cycle, which UBS expects will lead to lower U.S. yields.

“We think current USDJPY levels are higher than justified by yield differentials,” UBS notes, estimating that the currency pair should trend toward 145-146.

Additionally, trade tensions and a potential Trump-led administration’s focus on a stronger yen may reinforce this trend.

For investors, UBS suggests that any near-term spike toward 160 could be an opportunity to “tactically sell USDJPY.” Over the long term, UBS sees multiple forces supporting a downtrend, with USD/JPY likely to end 2025 at 145.

• US consumer prices increased by 0.2% in October.

• Traders expect Trump’s policies to drive inflation and pause or significantly slow Fed rate cuts.

• BoE’s Catherine Mann noted that inflation might be higher than expected in the medium term.

The GBP/USD forecast shows the dollar at new peaks as the Trump trade overshadows recent inflation figures. As a result, the pound remained weak against the greenback despite hawkish remarks from policymakers.

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On Wednesday, the US released its CPI report, which aligned with expectations. Consumer prices increased by 0.2% in October, while core prices increased by 0.3%. Meanwhile, the annual figure rose by 2.6%. Since the increase in inflation was expected, the Fed will likely lower borrowing costs in December.

The dollar initially retreated before climbing as market participants shifted their focus to Trump’s win. Traders expect Trump’s policies to drive inflation and pause or significantly slow Fed rate cuts.

The next significant reports will include wholesale inflation and retail sales. Producer prices are a leading indicator of future consumer prices. Therefore, rate-cut bets might ease if producer prices are higher than expected. The opposite is also true. Meanwhile, retail sales will show consumers’ financial health. High sales will show robust consumer spending, reducing rate-cut bets. On the other hand, low sales will indicate weak consumer spending, solidifying bets for a December rate cut.

Meanwhile, in the UK, Bank of England policymaker Catherine Mann noted that inflation might be higher than expected in the medium term. Mann is the only policymaker who voted against a rate cut at the last BoE meeting. Market bets for rate cuts in the UK have dropped since the reading of the new government budget. The BoE might only cut rates twice next year. 

GBP/USD key events today

• Core PPI m/m
• PPI m/m
• Unemployment Claims
• Fed Chair Powell Speaks

GBP/USD technical forecast: Bearish momentum head for the 1.2650 level

On the technical side, the GBP/USD price has broken below the 1.2750 key support to make a new low in the downtrend. Moreover, the price trades well below the 30-SMA, showing bears have a strong lead. At the same time, the RSI is in the oversold region, indicating solid bearish momentum. 

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The next target for the pair is at the 1.2650 support level. However, after such a steep collapse, bulls might be preparing to return for a pullback to the 1.2750 level or the 30-SMA.

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