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23/01/2019 – This Morning’s Exchange Rates

  • Posted by currencies in Rate Alerts
  • January 23, 2019
  • No Comments

The exchange rates are listed at the bottom of this article. Please note they are for indication only. For a live quote please contact us.

The British currency rose half a percent and neared $1.30 after data showed British workers’ pay grew at the fastest pace in over 10 years.

The figures encouraged traders, who believe that a disorderly no-deal Brexit can be avoided, to buy the pound.

But with little time left until Britain leaves the EU on March 29, there is no agreement in London on how it should exit the world’s biggest trading bloc. The chance of a “no-deal” exit with no provision to soften the economic shock persists.

British Prime Minister Theresa May sought to break a parliamentary deadlock over Brexit by proposing to seek further concessions from the European Union.

Britain’s opposition Labour Party is highly likely to back an amendment by lawmaker Yvette Cooper that could prevent a no-deal Brexit, the second most powerful man in the party said.

If the government fails to get a deal through by February 26th, parliament would be given a vote on asking the EU for a postponement of the Article 50 deadline to prevent Britain leaving without a deal on March 29. The proposal is for a nine-month extension, to Dec. 31.

This has been seen as positive by the markets and Sterling has continued to strengthen as a ‘no deal’ Brexit seems even more unlikely.

GBP/EUR 1.1425

GBP/USD 1.2981

GBP/AED 4.7611

GBP/AUD 1.8177

GBP/CHF 1.2952

GBP/CAD 1.7287

GBP/NZD 1.9131

EUR/USD 1.1351

GBP/ZAR 17.904

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