Blog


22/01/2021 – This Morning’s Exchange Rates

  • Posted by currencies in Rate Alerts
  • January 22, 2021
  • No Comments

GBP climbed against the Euro & US Dollar yesterday reaching 1.1324 and 1.3745 respectively; reaching a new 8 month high. The Pound remains well supported with a combination of rising global markets and a strong vaccine rollout. Moving on from yesterdays gains; GBP has seen a retracement in line with a broader turn lower for global stock markets which traded vastly in the red during the Asian session overnight.

The UKs extensive vaccine rollout is upholding the single currency in a subtle race against the EU and US to successfully ramp up numbers of vaccinated individuals. Almost 5.5million does of the Covid-19 vaccines administered, putting the UK at number 4 globally in terms of number of vaccines given.

The European Central Bank (ECB) made no changes to interest rates yesterday alongside addition to €500billion Pandemic Emergency Purchase Programme (PEPP) which has reached a staggering €1.85trillion in total to date. The ECB will continue to monitor exchange rates and inflation before making in changes to their current stance. The €1.85trillion coronavirus quantitative easing support programme, however, may not need to go the expected distance which shows positive signs as to the battle against the virus.

Across the Pond in the US, President Joe Biden’s first full day in office yesterday was largely focussed on a national strategy to gain more control of the global pandemic. Biden’s goal is to administer 100millions doses, enough to cover 50million Americans, in his first 100 days in the office. In addition to this goal, the creation of a National Pandemic Testing Board has been introduces to improve US coronavirus testing capacity and a Health Equity Task Force to ensure an “equitable pandemic response and recovery”.

GBP/EUR 1.1215 GBP/USD 1.3656 GBP/AED 5.008
GBP/AUD 1.7683 GBP/CHF 1.2081 GBP/CAD 1.7340
GBP/NZD 1.9010 EUR/USD 1.2164 GBP/ZAR 20.465

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Your email address will not be published.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