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11/05/2018 – This Morning’s Exchange Rates

• Posted by currencies in Rate Alerts
• May 11, 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.

Today seems likely to be a quiet end to the week with no significant new economic data in either the Eurozone or the UK. Today’s second reading for April Spanish CPI inflation is expected to be unchanged from the initial reading. That would be consistent with no revision to the aggregate Eurozone measure due next Wednesday.

In the US, May’s University of Michigan’s consumer sentiment survey is expected to show confidence is still close to its fourteen-year high. Also, of interest will be whether the survey’s readings of inflation expectations tick up in response to the recent rise in the CPI.

The dollar retreated from this year’s high after the U.S. released soft CPI data. Investors trimmed expectations for four rate hikes after the slower-than-expected inflation report showed prices pressures remained weak.

The U.S. Labor Department said on Thursday its consumer price index (CPI) rose 0.2% last month missing expectations for a 0.3% rise.

The pound slipped yesterday, touching below 1.34 against the US dollar following the Bank of England’s policy update. The decision to leave interest rates unchanged left markets unsure whether the BoE will raise rates later this year. Any comments today from Bank officials will receive particularly close attention.

GBP/EUR 1.1336
GBP/USD 1.3518
GBP/AED 4.9577
GBP/AUD 1.7904
GBP/CHF 1.3545
GBP/CAD 1.7238
GBP/NZD 1.9395
EUR/USD 1.1908
GBP/ZAR 16.557