01/03/2021 – This Morning’s Exchange Rates

  • Posted by currencies in Rate Alerts
  • March 1, 2021
  • No Comments

Over the last week we saw the market being to face sell-offs due to concerns about bond prices and yields- what was positive to see was the Sterling reaction. GBPUSD fell under 1.40 (After a rise to 1.42) and GBPEUR managed to hold 1.15 which gives us a good base for the next week- and a good insight into the resilience of Sterling exchange rates currently.

Sterling is backing off again this week against the US dollar after printing the first negative weekly candle last week in nearly two months, despite making a fresh near-three-year high of 1.4242. The sell-off occurred as US Treasury bond yields jumped, boosting the greenback, as investors continued to worry about inflationary pressures further down the line.

Cable is currently trading around 1.3935 and looks likely to re-test 1.3900 soon, although support off the 20-day simple moving average at 1.3930 and last week’s low at 1.3888 should stem any further sell-off.

The Euro plunged lower against the US Dollar at the end of last week, and may continue to lose ground, if the European Central Bank follows through on suggestions that it will act aggressively to counter an unwanted rise in bond yields.

GBP/EUR 1.1585 GBP/USD 1.3961 GBP/AED 5.1210

GBP/AUD 1.8047 GBP/CHF 1.2764 GBP/CAD 1.7714

GBP/NZD 1.9295 EUR/USD 1.2039 GBP/ZAR 20.949

Leave a Reply

Your email address will not be published.

What's Going On?

Currencies 4 You Ltd is a company registered in England and Wales (registered no. 06866898). Registered office: Regus House Victory Way Admirals Park, Crossway, Dartford, Kent, DA2 6QD. Currencies 4 You Ltd Payment and Foreign Currency Exchange Services are provided by Currency Cloud Limited and Equals Connect Limited. Currency Cloud Limited. Registered in England No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money. FCA registration number: 900199. Payment Services are provided by Equals Connect Limited, registered in England and Wales (registered no. 07131446). Registered Office: Vintners’ Place, 68 Upper Thames St, London, EC4V 3BJ. Equals Connect Limited are authorised by the Financial Conduct Authority to provide payment services (FRN: 671508). Payment services for Currencies 4 You Ltd are provided by Sciopay Ltd. Sciopay Ltd is a company incorporated in England & Wales. Registration No: 12352935. Sciopay Ltd is licensed and regulated by HMRC as a Money Service Business (MSB). Licence No: XCML00000151326. Sciopay Ltd is authorised by the Financial Conduct Authority as an Authorised Payment Institution. Firm Reference Number: 927951. | Terms and Conditions | Privacy Statement | Careers