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11/10/2017 – This Morning’s Exchange Rates

  • Posted by currencies in Rate Alerts
  • October 11, 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 euro climbed to a two-week high today on relief that Catalonia had stopped short of formally declaring independence from the rest of Spain.

Sterling was flat on Wednesday after two sessions of gains as doubts emerged on whether entrenched expectations of higher UK interest rates were reasonable given a backdrop of uncertain Brexit negotiations.

Despite Brexit and falling projections for UK economic growth, futures markets are pricing in 50 basis points of Bank of England rate increases over the next year, the most in the developed world apart from Canada.

UK manufacturing output rose by a monthly 0.4 percent in August, data showed on Tuesday, faster than a forecast of 0.2 percent in a poll of economists.

The outlook appeared fragile, with some market watchers including like Morgan Stanley preferring to sell sterling on rallies on Brexit worries.

Should the start of the UK-EU (post-Brexit) trade deal be postponed, UK inward investment may suffer.

GBP/EUR 1.1149
GBP/USD 1.3189
GBP/AED 4.7489
GBP/AUD 1.6943
GBP/CAD 1.6507
GBP/CHF 1.2848
GBP/NZD 1.8655
EUR/USD 1.1821
GBP/ZAR 17.819

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