- 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