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02/01/2018 – This Morning’s Exchange Rates

Posted by currencies in Rate Alerts
January 2, 2018
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The exchange rates are listed at the bottom of this article. Please note that the rates are for indication only. For live quotes please contact us via phone, email or SMS.

Sterling kicked off the first trading day of 2018 by climbing to a three-month high against the dollar this morning as the greenback weakened broadly, ahead of a survey of Britain’s manufacturing sector.

The pound, which in 2017 recorded its best annual performance against the dollar since 2009, with an almost 10 percent rise, added to those today.

Many currency analysts expect the pound could continue this bullish run and test the 1.40 level.

As always, the course of Brexit negotiations will be important and developments in the coming weeks will be important given we expect a transition deal to be struck quickly.

Brexit minister David Davis said that Britain wants to include financial services in a trade deal with the European Union which covers a full sweep of economic areas and that any deal that left out the sector would be “cherry-picking”.

GBP/EUR 1.1238
GBP/USD 1.3548
GBP/AED 4.8788
GBP/AUD 1.7283
GBP/CHF 1.3165
GBP/CAD 1.6969
GBP/NZD 1.9026
EUR/USD 1.2043
GBP/ZAR 16.549

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