DAILY CURRENCY REPORT
The British Pound has increased 0.30 US cents (or 0.2%) from its last trading session of February 23, 2021 to close at $1.41.
Currency Dashboard : GBP/USD
|Trading Countries||GBP: United Kingdom USD: United States Of America||1-day change (%)||0.2|
|25 Feb, Close||1.4137||YTD change ( % )||3.4|
|Relative Strength (6 mo)||90.6||USD||US Dollars|
+ The GBP is up 1.4% against the USD in the past week.
+ The exchange rate ranged between a low of 1.4052 on Monday, Feb 22 and a high of 1.4137 on Thursday, Feb 25.
|Day||British Pound||Close (USD)||Change %||Comment|
|Monday||Increases 0.7% vs the US Dollar (USD)||1.4052||0.7||Top Rise|
|Tuesday||Rises for a second consecutive day, a two-day rise of 1.1% vs the US Dollar (USD)||1.4107||0.4||Rises for a second consecutive day|
|Thursday||Increases vs the US Dollar (USD)||1.4137||0.2||Week-high of 1.4137|
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SECTION 1 Business News Round up
1.1 Recent Business News Round up: CNBC
September 10 2020: Sterling notches 6-week lows as Brexit tensions rise
The British government is set to announce new details on its existence outside the European Union later on Wednesday, with a particular focus on the already agreed terms regarding Northern Irelands customs relationship with the bloc.
It will undoubtedly sour the eighth round of trade talks that commenced this week, and has raised the possibility of the U.K. leaving the EU without a free trade agreement in place when the Brexit transition period expires at the end of the year.
Sterling touched six-week lows against both the U.S. dollar and the euro on Wednesday morning after the U.K. revealed plans to renege on its Brexit withdrawal agreement with the EU.
September 07 2020: Dollar rises to four-week high as sterling, U.S. stocks fall
The safe-haven dollar climbed to a four-week peak on Tuesday, led by gains versus sterling on renewed worries about Brexit and as risk appetite waned with a sell-off on Wall Street.
Analysts said the U.S. currency gains are likely to be unsustainable. Sterling fell to a four-week low against the dollar and was last down more 1.2% at $1.2987.
1.2 Other Publishers
|Feb 25, 2021||GBP/USD keeps the longest weekly rally in three years above 1.4100||FXSTREET.COM|
|Feb 24, 2021||GBP/USD recovers back to mid-1.4100s after choppy day||FXSTREET.COM|
|Feb 23, 2021||Pound to US Dollar Exchange Rate Heads Higher as Summer Will be Incomparably Better According to PMI||FUTURECURRENCYFORECAST|
|Feb 23, 2021||GBP/USD to rise as Powell is set to pressure the dollar||FXSTREET.COM|
|Feb 22, 2021||GBP/USD now looks to 1.4100||FXSTREET.COM|
|Feb 19, 2021||Pound US Dollar Exchange Rates Hits Best Level Since April 2018 on UK Services PMI Improvement||FUTURECURRENCYFORECAST|
SECTION 2 Today's Bullish Signals
2.1 Uptrend of GBP vs USD
Price/Moving Average Price of 1.08:
- The exchange rate to 200-day MAP ratio is 1.08, a bullish indicator. The GBP/USD is trading above both its MAPs and the 50-day MAP of $1.36 is higher than the 200-day MAP of $1.30, another bullish indicator.
- Rises to Falls: In the past month the number of rises outnumbered falls 17:5 or 3.4:1.
Relative Strength (6 months) 91 percentile:
- The GBP/USD has a 6-month relative strength of 91 in the market of 1,507 Currency Pairs means it is beating 91% of the market.
- A price rise combined with a high relative strength is a bullish signal.
SECTION 3 Ongoing Bullish Parameters
3.1 Rank in the top 20% in the Currency Pairs market
|1-month Price Change %||3.4||In Top 9%|
|Price/MAP50||1.04||In Top 14%|
|Price/MAP200||1.08||In Top 16%|
|1-week Price Change %||1.4||In Top 20%|
3.2 Present Value of $1000 Invested in the Past [3 Mo, 3 Yrs]; The Best Periods with PV$1000 > 1,011
|PV$1,000||3 mo ago||3 yrs ago|
3.3 The Best Periods [3 Mo, 1 Yr, 3 Yrs] with Change % > 1.1
|Change %||Quarter||Year||3 Years|
SECTION 4 Today's Bearish Signals
4.1 Overbought/Bearish Signals:
- The Relative Strength Index (RSI) of 83.5 has penetrated the overbought line of 70, suggesting the exchange rate gain of 2.9% in the last 14 days is unusually high.
SECTION 5 Ongoing Bearish Parameters
5.1 Present Value of $1000 Invested in the Past Year; The Worst Period with PV$1000 < 919
|PV$1,000||1 yr ago|
SECTION 6 Currency Crossrates
Currency Crossrates Today's Snapshot for GBP
|GBP1=1.9006NZD||New Zealand||Decreases 1.2% vs the New Zealand Dollar (NZD)|
|GBP1=1.8664SGD||Singapore||Increases vs the Singapore dollar (SGD)|
|GBP1=150.2082JPY||Japan||Increases 1.3% vs the Japanese Yen (JPY)|
|GBP1=1.4137USD||United States Of America||Increases vs the US Dollar (USD)|
|GBP1=1.7693CAD||Canada||Decreases vs the Canadian Dollar (CAD)|
|GBP1=1.2772CHF||Switzerland||Increases 0.6% vs the Swiss Franc (CHF)|
|GBP1=10.9617HKD||Hong Kong||Increases vs the Hong Kong dollar (HKD)|
|GBP1=1,572.8635KRW||South Korea||Increases vs the South-Korean Won (KRW)|
|GBP1=29.4239MXN||Mexico||Increases 1.5% vs the Mexican Peso (MXN)|
|GBP1=1.7766AUD||Australia||Decreases vs the Australian Dollar (AUD)|
|GBP1=9.1268CNY||China||Increases vs the Chinese Yuan Renminbi (CNY)|
|GBP1=11.6492SEK||Sweden||Decreases vs the Swedish Krona (SEK)|
|GBP1=1.1565EUR||European Union||Decreases vs the Euro (EUR)|
|GBP1=11.8641NOK||Norway||Decreases 0.8% vs the Norwegian Kroner (NOK)|
SECTION 7 Period-Based % Change
% Change of GBP vs Currency Basket Period-Based
In the past year the Great Britain Pound rose 8.9% against the US Dollars; in the past three years the Great Britain Pound rose 1.2% against the US Dollars.
|Last||Country||1-day %||1-week %||1-Year %||3-Yrs %|
|GBP1=1.414USD||United States Of America||0.2||1.4||8.9||1.2|
SECTION 8 Historical Perspective
Year-on-Year Comparison GBP/USD (Trailing year - ended 25 Feb)
In the past 5 years, the GBP/USD has jumped 0.7% from 1.4 to 1.41, an average compound annual appreciation of the GBP by 0.1%.
|Range||1.28 - 1.47||1.39 - 1.47|
GBP1 buys USD 1.41 today: Appreciation of USD from 1.96 v/s GBP thirty years ago
|Last||5 Yrs ago||10 Yrs ago||15 Yrs ago||20 Yrs ago||25 Yrs ago||30 Yrs ago|
Present Value of $1000 Invested in GBP 30 years ago is $721
|PV$1,000||5 yrs ago||10 yrs ago||20 yrs ago||30 yrs ago|
SECTION 9 Macroeconomic Indicators
|INDICATOR||UNITED KINGDOM[GBP]||UNITED STATES[USD]|
|GDP (Billion USD)||2,829||21,433|
|GDP growth yoy (%)||-7.8||-2.5|
|Interest rate (%)||0.1||0.25|
|Inflation rate (%)||0.6||1.4|
|Unemployment rate (%)||5.0||6.3|
|Budget / (Deficit) to GDP ratio (%)||(1.8)||(4.6)|
|Current account / (Deficit) to GDP ratio (%)||(3.8)||(2.3)|
|Debt to GDP ratio (%)||80.7||107.6|
SECTION 10 Credit Rating Summary
|Rating Agency||Long Term||Foreign Currency||Description|
|S&P||AA+||Very strong capacity to meet financial commitments. The plus (+) sign shows relative standing within the major rating category.|
|FITCH||AAA||Highest credit quality: 'AAA' ratings denote the lowest expectation of default risk. This capacity is highly unlikely to be adversely affected by foreseeable events.|
|DAGONG||A-||High Credit Quality: "A" ratings denote expectations of relatively low default risk. The capacity for payment of financial commitments is considered sufficient. However, this capacity may be more vulnerable than those of the higher ratings to adverse business or economic conditions due to any foreseeable event. The minus (-) sign shows relative standing within the major rating category.|
|Rating Agency||Long Term||Foreign Currency||Description|
|S&P||AA||Very strong capacity to meet financial commitments.|
|FITCH||AA+||Very high credit quality: 'AA' ratings denote expectations of very low default risk. The plus (+) sign shows relative standing within the major rating category.|
|DAGONG||A+||High Credit Quality: "A" ratings denote expectations of relatively low default risk. The capacity for payment of financial commitments is considered sufficient. However, this capacity may be more vulnerable than those of the higher ratings to adverse business or economic conditions due to any foreseeable event. The plus (+) sign shows relative standing within the major rating category.|