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19/10/2017 – This Morning’s Exchange Rates

  • Posted by currencies in Rate Alerts
  • October 19, 2017
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The exchange rates are listed at the bottom of this article. Please note that the rates are for indication only. For live quotes please contact us via phone, email or SMS.

British retail sales suffered an unexpectedly sharp slowdown in September, dragging quarterly growth to its weakest annual rate since 2013, suggesting consumer demand remains uncertain as the Bank of England nears its first-rate rise in a decade.

Retail sales volumes fell 0.8 percent in September, the Office for National Statistics said this morning, reversing a jump in August and undershooting all economists’ forecasts in a poll. Third-quarter growth slowed to a year-on-year rate of 1.5 percent, its lowest since the second quarter of 2013.

Last month the BoE said it was likely to raise interest rates in the coming months if the economy and inflation pressures strengthen as expected. Markets see a roughly 80 percent chance of a move on Nov. 2 after the BoE’s next meeting.

Pound is lower across the board this morning.

GBP/EUR 1.1133
GBP/USD 1.3149
GBP/AED 4.7298
GBP/AUD 1.6731
GBP/CAD 1.6392
GBP/CHF 1.2863
GBP/NZD 1.8711
EUR/USD 1.1798
GBP/ZAR 17.721

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