16/04/2024 – Exchange Rates

  • Posted by currencies in Rate Alerts
  • April 16, 2024
  • No Comments

GBP/ USD hit a 5-month low in this morning session. USD continue to outperform its peers after recent retail sales shows ongoing strength in the American economy. No halt on spending from consumers and households even after inflation levels at the end of last week did not reduce as planned has led to USD remaining its momentum.

Recent economic figures has abolished a rate cut in June and even if a rate cut will be required later, the current US economy shows no signs nor need of lowering borrowing cost just yet.
While US economy once again proves strength, did we see an early sign for Bank of England that borrowing costs will have to come down? Employment change showed negative figures for February, with a decrease of 156k jobs.

This lead to that unemployment rates rose above 4% to 4.2% its highest level since June 2023 and for a second month in a row we are seeing headwinds for the UK labour market. This is followed up by important inflation and core inflation reading for the UK tomorrow, with recent spikes in fuel prices – we will watch closely if there is an inverse correlation between the two metrics.

GBP/EUR 1.1702 GBP/USD 1.2435 GBP/AED 4.5710
GBP/AUD 1.9382 GBP/CHF 1.1351 GBP/CAD 1.7157
GBP/NZD 2.1027  EUR/USD 1.0616 GBP/ZAR 23.582

Leave a Reply

Your email address will not be published.

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 for clients based in the United Kingdom and rest of the world, payment services for Currencies4you are provided by The Currency Cloud Limited. Registered in England and Wales 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 (FRN: 900199).For clients based in the European Economic Area, payment services for Currencies4you are provided by CurrencyCloud B.V.. Registered in the Netherlands No. 72186178. Registered Office: Nieuwezijds Voorburgwal 296 - 298, Mindspace Nieuwezijds Office 001 Amsterdam. CurrencyCloud B.V. is authorised by the DNB under the Wet op het financieel toezicht to carry out the business of an electronic-money institution (Relation Number: R142701). For clients based in the United States, payment services for Currencies4you are provided by The Currency Cloud Inc. which operates in partnership with Community Federal Savings Bank (CFSB) to facilitate payments in all 50 states in the US. CFSB is registered with the Federal Deposit Insurance Corporation (FDIC Certificate# 57129). The Currency Cloud Inc is registered with FinCEN and authorised in 39 states to transmit money (MSB Registration Number: 31000206794359). Registered Office: 104 5th Avenue, 20th Floor, New York, NY 10011. 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). Payment services for Currencies 4 You Ltd are provided by Sciopay Ltd. Sciopay Ltd is a company incorporated in England & Wales. Registration No: 12352935. Sciopay Ltd is licensed and regulated by HMRC as a Money Service Business (MSB). Licence No: XCML00000151326. Sciopay Ltd is authorised by the Financial Conduct Authority as an Authorised Payment Institution. Firm Reference Number: 927951. Currencies 4 you's payment and foreign currency exchange services are provided by Global Currency Exchange Network Ltd T/A GC Partners. Global Currency Exchange Network Ltd is authorised by the FCA under the Payment Services Regulations, 2017 (FRN: 504346). Registered as a Money Services Business, regulated by HM Revenue & Customs ("HMRC") under the Money Laundering Regulations 2017. (Registration number is 12137189). Registered in England and Wales. Company number 04675786. Registered Office 3rd Floor 100 New Bond Street, London, England, W1S 1SP. | Terms and Conditions | Privacy Statement | Careers