Blog


16/04/2021 – This Morning’s Exchange Rates

  • Posted by currencies in Rate Alerts
  • April 16, 2021
  • No Comments

The British Pound came under  pressure against the Euro this morning; declining more than 2% in April alone. However, a still-positive technical setup and solid underlying fundamentals which could encourage a recovery in the near-term. There was no discernible news to pin the declines on, but more and more analysts are awaking to the prospect of rising political anxieties related to the Scottish elections due in May.

As it stands, the Scottish National Party remains on track to attain a majority in the upcoming elections. Nicola Sturgeon, the leader of the SNP part implies she will encourage another independence referendum. It is worth noting that the Scotland did vote to remain within the EU at time of Brexit referendum and the possibilities of a vote to support Scottish independence has increased due to this vote in 2016.

The US Dollar gained ground following a series of strong economic statistics. Retail Sales jumped by 9.8% in March as Americans armed with stimulus checks stormed the stores. The more recent jobless claims figures for the week ending April 9 were also encouraging, printing a drop to 576,000 – the lowest post-pandemic level. Only industrial output figures disappointed.

While Treasury yields surprisingly dropped – probably due to fresh demand from Asia – the dollar shrugged off this move and responded to the data. On Friday, the last consumer figure for the week is eyed – the University of Michigan’s preliminary Consumer Sentiment Index for April.

GBP/EUR 1.1490 GBP/USD 1.3769 GBP/AED 5.0498
GBP/AUD 1.7775 GBP/CHF 1.2653 GBP/CAD 1.7223
GBP/NZD 1.9237 EUR/USD 1.1965 GBP/ZAR 19.526

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Your email address will not be published.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