Blog


24/06/2020 – This Morning’s Exchange Rates

  • Posted by currencies in Rate Alerts
  • June 24, 2020
  • No Comments

Please find the exchange rates listed at the bottom of the article, the rates are for indication purposes only, for a live quote please contact us.

The pound fell against the dollar and euro, weighed down by uncertainty over Brexit negotiations even after global risk appetite got a boost from positive economic data as countries ease their lockdowns.

For the past two days, the pound had risen against a weaker dollar, hitting a six-day high of $1.2541 at 0007 GMT on Wednesday, before reversing course as the greenback recovered.

British Prime Minister Boris Johnson unveiled a significant easing of the coronavirus lockdown in England, saying pubs, restaurants and bars can reopen from July 4.

But top medics signed an open letter in the well-regarded British Medical Journal, warning politicians that local flare-ups of COVID-19 are likely, and a second wave is a real risk.

Uncertainty about ongoing Brexit negotiations also still posed a downside risk for the pound, analysts said.

 Lifting the UK lockdown does not alter the key GBP driving factor – the uncertainty about the UK-EU trade deal.

Four years after Britain voted to leave the European Union, the pound is still well below its pre-referendum levels and there has been little progress in agreeing the country’s future trading relationship with the bloc.

Britain and the EU are set to miss their agreed end-of-June deadline for assessing whether the United Kingdom’s financial services regulation is deemed “equivalent” to regulatory standards in the EU.

This leaves just six months before a potentially messy UK exit.

GBP/EUR 1.1051 GBP/USD 1.2480 GBP/AED 4.582

GBP/AUD 1.8076 GBP/CHF 1.1794 GBP/CAD 1.6944

GBP/NZD 1.9402 EUR/USD 1.1281 GBP/ZAR 21.530

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Your email address will not be published.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’s Payment and Foreign Currency Exchange Services are provided by Ebury Partners UK Limited. Currencies 4 You Ltd is partnered with Ebury Partners UK Limited as its Programme Manager. 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 Commissioner's Office, with registration number: ZA345828. | Terms and Conditions | Privacy Statement | Careers