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04/04/2018 – This Morning’s Exchange Rates

Posted by currencies in Rate Alerts
April 4, 2018
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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 was on track for its fourth consecutive day of gains against the dollar on Wednesday as traders paused ahead of a survey of Britain’s construction sector.

However, the construction data came in worse than expected at 47.0 compared to an expected 51. The pound did not lose ground on the back of this result and continues to gain against the Dollar and Euro.

In January, Britain’s construction sector came close to contracting for the first time since September as uncertainty linked to Brexit caused new orders to dry up.

Expectations the Bank of England could raise interest rates as early as May has helped sterling outperform most major currencies this year.
Some investors remain sceptical about the odds of policy tightening because of lingering economic uncertainties.

Mainly the broad weakness of the dollar is linked to a trade dispute between the United States and China – that is keeping sterling above $1.40.

GBP/EUR 1.1430
GBP/USD 1.4059
GBP/AED 5.1570
GBP/AUD 1.8326
GBP/CHF 1.3456
GBP/CAD 1.8035
GBP/NZD 1.9306
EUR/USD 1.2285
GBP/ZAR 16.602

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