14/01/2020 – This Morning’s Exchange rates

  • Posted by currencies in Rate Alerts
  • January 14, 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.

On Monday the pound fell by 0.5% to two and a half week lows against the dollar as poor economic figures increased the chances of the Bank of England cutting their interest rates.

With the UK’s industrial production coming in lower than forecasted and the monthly GDP for November showing that the British economy has slowed by 0.3%.

An Economist at the Office for national statistics said that this now means we will need growth of approximately 0.1%-0.2% in December These figures were closely followed by Bank of England monetary policy member Gertjan Vlieghe, who stated that he would be ready to back a rate cut if the economic growth fails to improve.

They will be looking closely at the GBP CPI (Consumer Price Index) being released on Thursday which will give them a good indication on what they would like to do, and this piece of data is now likely to be a big mover of the markets.

This Morning the rate slightly recovered (0.1%) due to an interview with Boris Johnson on the BBC in which he stated that it is ‘very likely we get a comprehensive deal with EU by year end’.

However, when asked if he could put a percentage on the likelihood of a deal being made, he declined the offer. This initially put a stop to the decline in the GBPUSD rate as it increased by around 0.2% but has since retraced due it being hard to gain a lot of certainty from the traders simply because of the lack of time to get the deal done.

Moving on to economic data, we have a lot of data for the US today including the US CPI and retail sales figures which will likely have an impact on the GBPUSD rate.

GBP/EUR 1.1640 GBP/USD 1.2957 GBP/AED 4.7519

GBP/AUD 1.8791 GBP/CHF 1.2570 GBP/CAD 1.6944

GBP/NZD 1.9580 EUR/USD 1.1121 GBP/ZAR 18.625

Leave a Reply

Your email address will not be published.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

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, Equals Connect Limited and Ebury Partners UK 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). Currencies 4 You Ltd is partnered with Ebury Partners UK Limited as its Programme Mananger. Ebury Partners UK Limited are authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution. (Reference Number 900797). Ebury Partners UK Ltd is registered with the information commissioners office with registration number: ZA345828. | Terms and Conditions | Privacy Statement | Careers