- Posted by currencies in Rate Alerts
- January 17, 2020
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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.
The British pound fell sharply earlier this week after a BoE policy maker said they ‘would vote for a rate cut unless economic data improved significantly’. With the weaker inflation data on Wednesday the market is pricing in a 57% chance of a 25-basis point cut to rates in January.
On Thursday sterling edged higher, hitting its highest level of the week (1.3082). Traders put a hold on the ‘pricing in’ of the Bank of England cutting interest rates later this month and switched their attention to the comments of a Downing Street’s spokesman confirming that the Brexit transition period would not be extended further.
Yesterday the US dollar gained after multiple data releases that showed signs of a positive U.S. economy, a rebound from earlier weakness due to the preliminary deal between the United States and China to de-escalate their trade war.
GBP/EUR 1.1760 GBP/USD 1.3101 GBP/AED 4.8059
GBP/AUD 1.8887 GBP/CHF 1.2547 GBP/CAD 1.7094
GBP/NZD 1.9751 EUR/USD 1.1122 GBP/ZAR 18.768