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13/11/2017 – This Morning’s Exchange Rates

Posted by currencies in Rate Alerts
November 13, 2017
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The exchange rates are listed at the bottom of this article and are for indication only. For live quotes, please contact us via phone, email or SMS.

Sterling dropped off this morning after media reports on the weekend that Theresa May is struggling with her party at a time when Brexit talks are at a critical point.

The pressure on the pound came as it was said the 40 members of parliament have no confidence in the prime minister and this could lead to a leadership challenge. That is only 8 less than you need to be able to start a leadership contest which could potentially force Theresa May out of office.

Topping off a weekend of bad news for the pound was David Davis (UK Brexit Secretary) saying that Britain would not have to give a figure for a financial settlement with the European Union, which highlights the lack of progress in the divorce negotiations.

The US Dollar was up against most currencies as the investors remain focused on the planned tax reforms and also last week’s spike in US Bond yields supported the currency.

No key UK data today, the markets will be volatile today with all the uncertainty. For info on the markets or live quotes please contact us.

GBP/EUR 1.1204
GBP/USD 1.3052
GBP/AED 4.7295
GBP/AUD 1.7067
GBP/CAD 1.6580
GBP/CHF 1.3010
GBP/NZD 1.8879
EUR/USD 1.1636
GBP/ZAR 18.848

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