02/03/2018 – This Morning’s Exchange Rates

  • Posted by currencies in Rate Alerts
  • March 2, 2018
  • No Comments

The exchange rates are listed at the bottom of this article. Please note they are for indication only. For a live quote please contact us.

Sterling steadied close to a seven-week low against the dollar today, all eyes are on a speech from Prime Minister Theresa May on her plans for a trade deal with the European Union.

May will in the early afternoon set out her vision for a Brexit deal. The prime minister, weak after losing her parliamentary majority last year, will struggle to satisfy the demands of EU officials.

Based on media reports on the cabinet deal reached last week, the speech may well contain lots of unrealistic scenarios that (European Council President) Donald Tusk has stated recently were based on pure illusion.

If that’s the case today, we may well see further pound weakness.

Worries that Britain might not secure the post-Brexit transition period that it wants by the end of March have knocked sterling this week, with the EU’s chief negotiator Michel Barnier saying a deal on that was not guaranteed.

The pound has struggled to build on a rally earlier this year amid a resurgence in political risk centered on Brexit and a broad rebound in the dollar. It suffered its worst month since October 2016 in February, as the greenback strengthened across the board.

GBP/EUR 1.1201
GBP/USD 1.3766
GBP/AED 4.9055
GBP/AUD 1.7766
GBP/CHF 1.2904
GBP/CAD 1.7704
GBP/NZD 1.8995
EUR/USD 1.2276
GBP/ZAR 16.226

Leave a Reply

Your email address will not be published. Required fields are marked *

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’s Payment and Foreign Currency Exchange Services are provided by Ebury Partners UK Limited. Currencies 4 You Ltd is partnered with Ebury Partners UK Limited as its Programme Manager. Ebury Partners UK Limited are authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution. (Reference Number 900797). Ebury Partners UK Ltd is registered with the Information Commissioner's Office, with registration number: ZA345828. | Terms and Conditions | Privacy Statement | Careers