Today's Pound / Dollar News (2024)

FAQs

How is the Pound doing against the Dollar? ›

The GBP / USD rate today is 1.3167 compared to yesterdays rate of 1.3167. This is a difference of 0.0000 which is a 0.00% increase. At market rates, this means that yesterday £1000 was worth $1316.70 and today £1000 is worth $1316.72 which is a difference of $0.02.

GBP/USD Technical Overview

On the downside, 1.3200 (static level) aligns as immediate support before 1.3150-1.3140 (100-period SMA, Fibonacci 38.2% retracement of the latest uptrend) and 1.3100 (static level). The first resistance could be seen at 1.3260 (end-point of the latest uptrend) before 1.3300 (static level).

GBP/USD forecast – technical analysis

GBP/USD trades within a rising channel; the price has recovered from the 1.30 low as it heads back towards 1.32, the round number, and 1.3265, the 2024 high. A rise above here brings 1.33 into focus.

1 USD = 0.756816 GBP Sep 18, 2024 11:42 UTC

The currency converter below is easy to use and the currency rates are updated frequently.

What is causing the drop in the U.K. pound? The U.K. economy has experienced a significant negative, external shock from higher energy prices, which is weighing on the growth outlook as a larger share of income is being spent on energy bills — the so-called 'cost of living' shock.

The Kuwaiti Dinar is renowned as the strongest currency in the world. Introduced in 1961, it has maintained a commanding presence due to Kuwait's substantial oil reserves, which account for a significant portion of its economic output.

The GBPUSD increased 0.0036 or 0.28% to 1.3203 on Wednesday September 18 from 1.3167 in the previous trading session. Historically, the British Pound reached an all time high of 2.86 in December of 1957. British Pound - data, forecasts, historical chart - was last updated on September 18 of 2024.

GBP/USD Daily Outlook

Outlook will stay bullish as long as 1.3043 resistance turned support holds. On the upside, firm break of 1.3265 will resume larger up trend to 100% projection of 1.2298 to 1.3043 from 1.2664 at 1.3409. However, firm break of 1.3043 will turn bias back to the downside for deeper pullback.

Why is Pound to Dollar rising? ›

The pound has also been boosted by market hopes that the new Labour government will offer economic stability. Higher rates in the UK increase the pound's value, because it can attract more overseas investment. This creates more demand for sterling, pushing up its value relative to other currencies.

Although the British pound is worth more than the U.S. dollar on a nominal basis, the dollar is still a stronger currency due to its status as the world's reserve currency and its greater volume of trading in the forex markets.

Pound (GBP) price predictions from AI-based websites

the British Pound is forecast to trade at 1.24 by the end of Q2 2024. Looking forward, the website estimates GBP/USD to trade at 1.21 in 12 months' time. Another AI-based website, Long Forecast, estimates GBP/USD to close in 2024 at around 1.2670.

In six months the projected rate is at 1.3071. Longer-term outlook: Will the Pound Strengthen or Fall Against the Dollar in the Coming 6 Months to two years? In one year the Pound-Dollar exchange rate is expected to be at 1.3042. In two years the projected rate is 1.2984.

GBP Surge: The British Pound reached a new 2024 high against the U.S. Dollar after U.S. labor market data revealed a significant overestimation in job creation, prompting expectations of Federal Reserve rate cuts.

Although the British pound is worth more than the U.S. dollar on a nominal basis, the dollar is still a stronger currency due to its status as the world's reserve currency and its greater volume of trading in the forex markets.

Is it better to get dollars in the UK or the US? It could be more beneficial to buy your dollars in the UK rather than when when you arrive in the US. This is because the pound-to-dollar exchange rate in the UK is can be better than some of the rates offered by providers in America.