08/07/2021 – This Morning’s Exchange Rates

  • Posted by currencies in Rate Alerts
  • July 8, 2021
  • No Comments

GBP is set to at least hold it’s value throughout July with the freedom day of July 19th set to go ahead after being given the green light from Boris Johnson.

The main factor behind this decision is due to the correlation that vaccines are having on bringing down hospitalisations and deaths. Economically, GDP is released on Friday morning, expectations suggest GDP could reach over 5% with recent re-openings and vaccine boosted confidence leading to a better recovery than first thought.

A full re-opening of the economy later this month should also support a further surge in GDP throughout the 3rd quarter of the year.

The USD has continued its strength this morning off the back of The Fed Reserve’s minutes last night. Their last meeting had seen members back two rate hikes in 2023 with strong support for a first rate hike coming next year.

The minutes last night backed up this sentiment, with members indicating that conditions could be met somewhat earlier than they had previously anticipated. The strong economic recovery in The U.S. has allowed the plans for earlier rate hikes and focus today will be on the weekly unemployment data.

The number of Americans making new claims for unemployment benefits last week is seen to be dropping by 14,000 to 350,000 which is a new low throughout the pandemic. Alongside this figure, continuing claims are also expected to drop by 134,000 to 3.335 million.

GBP/EUR 1.1654 GBP/USD 1.3773 GBP/AED 5.0518
GBP/AUD 1.8530 GBP/CHF 1.2644 GBP/CAD 1.7311
GBP/NZD 1.9773 EUR/USD 1.1810 GBP/ZAR 19.722

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Your email address will not be published.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