09/01/2020 – This Morning’s Exchange Rates

  • Posted by currencies in Rate Alerts
  • January 9, 2020
  • No Comments

Please find the exchange rates listed at the bottom of the article, the rates are for indication purposes only, for a live quote please contact us.

UK Prime Minister Boris Johnson and European Commission President have commenced trade talks which has led to Sterling strength in the region of 0.5% against the Euro and 0.3% against the USD. The future relationship between the EU and UK will now be the key driving factor for the single currency in the coming months. There are clear signs from both the EU and the UK suggesting Brexit negotiations will be more effective than the three years running up to the Withdrawal Agreement which has a deadline of 31st January 2020.

The UKs deadline to agree a trade deal will be December 2020 which is most definitely going to be a push for time and hence increasing the possibilities of a ‘Hard Brexit’; inevitably leading to pressure on the Pound. Failure to reach a deal will see the UK entering World Trade Organisation Rules.

Across the pond, tensions between the US and Iran seem to be calming. NATO secretary general, Jens Stoltenberg has encouraged Iran to refrain from further violence. Similarly, European leaders have also please Trump release any possible conflicts of violence with Iran and not to respond to Iran’s retaliation in the means of missile attacks; although attacks were carefully designed to avoid any US casualties.

Trump commented yesterday that “the US is ready to embrace peace with all who seek it” and also Iran appearing to stand down will support no further violent actions. On the back of these comments Oil and Gold have retraced their gains since the death of Iranian general where we saw sharp rise in price of the commodities.

ADP Employment Change for the US saw a large than expected rise previously from 124k up to 202k. With the first release of the most volatile date, Non-Farm Payrolls, we could expect a sharp increase also. German Industrial production, which had faced great pressure throughout 2019 is expected to show an increase from -5.3% to -3.6%. The Unemployment Rate for the Euro-Zone is expected to stay flat at 7.5%.

GBP/EUR 1.1763 GBP/USD 1.3070 GBP/AED 4.8000

GBP/AUD 1.9050 GBP/CHF 1.2735 GBP/CAD 1.7054

GBP/NZD 1.9718 EUR/USD 1.1101 GBP/ZAR 18.380

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Your email address will not be published.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