18/02/2021 – This Morning’s Exchange Rates

  • Posted by currencies in Rate Alerts
  • February 18, 2021
  • No Comments

This afternoon we have seen GBP climb back above 1.39 against the Dollar & stay above 1.15 against the EUR with extended optimism that Boris Johnson’s roadmap out of lockdown on Monday 22nd February will be more positive than initially expected. As of yesterday, almost 16 million people in The UK have had their first dose of the vaccine. Having met the first target of 15 million people by Mid-Feb the government are now focused on vaccinating another 5 priority groups by the end of April.

On the economic front, UK inflation data beat expectations for January coming in at 0.7% against 0.6% to back up further claims that the economy can bounce back from the past year once restrictions are gradually lifted.

USD experienced some gains over the past 24 hours before falling to further GBP strength this morning. Retail sales smashed expectations for January which were forecast at 1.1%. The figures hit 5.3% again showing positive signs from the Covid vaccination roll out.

The focus for today will be on the jobless data for the U.S, with jobless claims figures looking to improve from last month, further highlighting the recovery with 49,000 jobs being added last month and raising expectations of an economic recovery sooner rather than later.

Yesterday The EU agreed a deal to purchase another 300 million doses of the Moderna vaccine, in an attempt to keep up with both The UK & The U.S in the roll-out of the vaccines. The next step will be to ensure the distribution of the vaccine is as quickly and efficiently as possible to allow lockdown restrictions to be lifted.

Current restrictions across many countries in Europe are currently in place until at least the end of March with Germany still reporting over 10,000 cases per day and over 500 deaths yesterday.

Economically, there are signs of an attempted recovery with inflation figures due out to tomorrow expected to show signs of growth coming out at 0.2% for January.

The unemployment rate for The Euro-Zone has also improved from 3.9% down to 3.6% this morning.

GBP/EUR 1.1550 GBP/USD 1.3949 GBP/AED 5.1150
GBP/AUD 1.7923 GBP/CHF 1.2509 GBP/CAD 1.7687
GBP/NZD 1.9338 EUR/USD 1.2072 GBP/ZAR 20.164

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Your email address will not be published.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 Foreign Currency Exchange Services are provided by Currency Cloud Limited and Equals Connect 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). 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. | Terms and Conditions | Privacy Statement | Careers