Blog


08/05/2017 – This morning’s currency rates

  • Posted by currencies in Rate Alerts
  • May 8, 2017
  • No Comments

Exchange rates are at the bottom of this article. Please note this is for indication only, for live quotes give us a call.

A boost for European markets from France was not enough to drive sterling past $1.30 this morning, with the British currency trading in tight ranges as domestic attention focused on this week’s Bank of England meeting and an accelerating election campaign.

The pound has gained more than 3 percent since Prime Minister Theresa May called a surprise early national vote three weeks ago for June 8, reflecting hopes among investors it will give her a stronger hand to compromise in Brexit talks.

Yet that recovery has stalled in the past week, even as May’s Conservatives won a decisive victory in regular local council elections on Thursday.
That hints at the scale of doubts that remain on how the UK economy will deal with a historic break from Europe and what are widely expected to be volatile talks on the terms, whatever the outcome of next month’s vote.

The Bank of England meets on Thursday, with analysts expecting it to have drawn some comfort from sterling’s rise over the past month.

The Bank surprised markets earlier this year by delivering a hawkish message on the chances of rises in interest rates, generally read as reflecting concern that further falls for pound would boost inflation and weaken consumer spending power.

GBP/EUR 1.1824
GBP/USD 1.2959
GBP/AED 4.7641
GBP/AUD 1.7486
GBP/CAD 1.7713
GBP/CHF 1.2844
GBP/NZD 1.8684
EUR/USD 1.0951
GBP/ZAR 17.408

Leave a Reply

Your email address will not be published.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

4 × 1 =

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). | Terms and Conditions | Privacy Statement | Careers