Live UK Exchange Rates: Currency News Roundup — Warsh Speech Hits Gold, Silver and Bitcoin; Pound Ends August Mixed
Key Takeaways
- •Kevin Warsh's Jackson Hole speech revived Fed hike expectations, lifting September odds toward 60% and producing the Dollar's biggest daily advance in more than two months, with EUR/USD closing at 1.1582.
- •Gold fell 2.99% to $4,457, silver dropped 3.98% to $66.42, and Bitcoin declined 3.08% to below $78,000 as higher rate expectations raised the opportunity cost of non-yielding assets.
- •UK economists expect the Bank of England to hold its Bank Rate through end-2027, though a 3.7% inflation peak keeps a November hike risk alive, leaving Sterling with a mixed August performance.
- •USD/JPY closed Friday at 160.10, nearly five Yen above post-intervention lows, showing that record joint US-Japan intervention provided only temporary relief against wide rate differentials.
- •Goldman Sachs now expects the RBA to hike to 4.60% in November after July's inflation surprise, though AUD/USD slipped 0.45% after Warsh's speech to 0.7163 while staying 1.7% higher for August.

Exchange Rates UK (exchangerates.org.uk) provides live exchange rates, currency comparison tools, exchange rate forecasts and historical data, tracking major FX pairs such as Pound to Euro and Pound to Dollar in real time with mid-market rates updated every minute. The exchange rates on the page were updated at 31st Aug 2026. All currency rates are updated every minute while markets are open; Exchangerates.org.uk believes the information to be accurate but does not warrant or guarantee such accuracy, and users are advised to verify any values before use.
Latest Currency News
Bank of England outlook: UK economists see the Bank Rate on hold through the end of 2027, but stronger growth and a 3.7% inflation peak leave a November hike risk firmly alive. The mixed rate outlook is reflected in Sterling's diverging August performance: the Pound held broadly flat against the Euro, lost ground against the Australian and Canadian Dollars — two currencies whose central banks are themselves turning more hawkish — and remained modestly higher against the US Dollar.
EUR/USD: The Euro-Dollar dropped to 1.158 after Kevin Warsh revived Fed hike bets, but Rabobank still sees choppy trade giving way to 1.18 into spring. Warsh's remarks at the Jackson Hole symposium — the Federal Reserve's annual gathering where policymakers have historically signalled policy shifts — marked the key event of the week for FX markets. The EUR/USD exchange rate ended Friday at 1.1582 after the speech triggered the Dollar's strongest daily advance in more than two months, a reminder that interest-rate differentials remain the dominant driver of major-currency moves.
USD/CAD: Canada's 3.3% Q2 rebound supports the Loonie, but Scotiabank sees USD/CAD wrestling with 1.39 as the broader Dollar regains momentum. The pair illustrates the tension between domestic fundamentals and global Dollar flows: firm Canadian data have not been enough to offset renewed Fed hike expectations. USD/CAD ended Friday around 1.3903, extending its late-August rebound despite another strong batch of Canadian economic data, though USD/CAD has still fallen around 0.8% during the period.
Gold, silver and Bitcoin: The prices of gold, silver and Bitcoin all fell after Warsh pushed September Fed hike odds towards 60%, abruptly challenging August's debasement trade — the positioning in hard and non-sovereign assets that builds when investors lose confidence in fiat currency value. Higher rates raise the opportunity cost of holding non-yielding assets, which is why the three moved down together on the day. Gold fell 2.99% on Friday to $4,457, silver dropped 3.98% to $66.42, and Bitcoin lost 3.08% to finish below $78,000.
AUD/USD: Goldman now expects an RBA hike to 4.60% in November after a broad July inflation surprise, adding fresh rate support to the Australian Dollar. With both the Fed and the RBA potentially hiking, the Aussie is caught between two tightening cycles. AUD/USD ended Friday at 0.7163, still 1.7% higher in August despite losing 0.45% after Warsh's Jackson Hole speech.
USD/JPY: USD/JPY is back above 160 despite record intervention, reinforcing UniCredit's warning that FX operations struggle when fundamentals resist them. The episode echoes a well-documented pattern in currency markets: official intervention typically offers only temporary relief when interest-rate differentials — here, the wide gap between US and Japanese rates — continue to favour the higher-yielding currency. USD/JPY closed Friday at 160.10, almost five Yen above the lows reached after the extraordinary joint US-Japan intervention. Watch upcoming Japanese and US policy signals for any shift in that differential.
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