04/10/2017 – This Morning’s Exchange Rates
- Posted by currencies in Rate Alerts
- October 4, 2017
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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.
The PMI showed growth in services activity unexpectedly sped up a little last month, compensating for weaker readings in the manufacturing and construction industries reported earlier in the week.
Taking the three sector surveys together, Britain’s economy probably expanded at a quarterly rate of around 0.3 percent in the July-September period, matching its second-quarter performance, survey compiler IHS Markit said.
The dollar pulled away from seven-week highs today, amid speculation that U.S. President Donald Trump’s choice for the next head of the Federal Reserve could be a less hawkish candidate than had previously been expected.
The greenback had reached its highest since mid-August against a basket of major currencies on Tuesday, driven by stronger economic data, as well as expectations for another Fed rate hike by the end of the year and a revival of the so-called “Trumpflation trade”.
The Euro has been under pressure this week by worries over Catalonia, after a violence-marred independence referendum. The common currency appeared largely unruffled by Catalonia’s leader, Carles Puigdemont, saying on Tuesday that the region would declare independence in a matter of days.
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