Blog


24/04/2018 – This Morning’s Exchange Rates

  • Posted by currencies in Rate Alerts
  • April 24, 2018
  • 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.

Sterling dropped to its lowest since level since the middle of March, its sixth consecutive daily fall as investors are worried about the performance of the British economy.

April has historically proved to be supportive for the pound because of a seasonal rise in capital inflows into Britain from foreign companies paying UK shareholders dividends.

But last week, sterling fell almost 1.7 percent on weaker-than-expected data and cautious comments from Bank of England Governor Mark Carney that slashed market expectations for a May rate hike.

The key data this week is the gross domestic product figures, analysts will look for signs of how the economy was holding up and whether it the BoE are ready to hike rates.

A resurfacing of worries about Brexit also sapped at the pound, which has been one of the best performing major currencies in 2018.

Britain’s upper house of parliament handed the government its third defeat over Brexit in less than a week yesterday, voting down plans not to retain EU rights in national law before Britain leaves the bloc.

The market is now pricing in a less than 50 percent chance of a rate hike at a May 10 BoE meeting, down from more than 80 percent a fortnight ago.

GBP/EUR 1.1416
GBP/USD 1.3935
GBP/AED 5.1102
GBP/AUD 1.8314
GBP/CHF 1.3620
GBP/CAD 1.7886
GBP/NZD 1.9565
EUR/USD 1.2192
GBP/ZAR 17.021

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Your email address will not be published.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