Blog


27/07/2017 – This Morning’s Exchange Rates

  • Posted by currencies in Rate Alerts
  • July 27, 2017
  • No Comments

The exchange rates are listed at the bottom of this article, please note the rates are for indication only. For live quotes contact us vis email or phone.

Sterling hit a 10-month high against a broadly weaker dollar today, after the U.S. Federal Reserve left policy unchanged and appeared less confident about inflation picking up, which investors took as a sign rates could be kept low for longer.

The market focused on the central bank’s noting that both overall and core inflation had declined, and its removal of the qualifier “recently,” which they saw as potentially reflecting concerns that a slowdown in consumer price rises might not be temporary.

With the dollar skidding across the board, the pound took advantage, hitting as high as $1.3157, its highest since mid-September.

Against the euro, it has been a different story for sterling. As the single currency has rallied both on dollar weakness and expectations that the European Central Bank will tighten monetary policy last year, the pound has fallen to eight-month lows in recent weeks.

Data on Wednesday showed Britain’s economy gathered only a little speed in the second quarter after almost stalling at the start of the year, pouring cold water on expectations for UK interest rate hikes in the coming months.

ADVERTISINGStrategists say developments around Brexit will continue to be the main driver for the pound, which has fallen around 13 percent against the dollar since last June’s referendum.

GBP/EUR 1.11194

GBP/USD 1.3128

GBP/AED 4.806

GBP/AUD 1.6378 

GBP/CAD 1.6341 

GBP/CHF 1.2531

GBP/NZD 1.7439 

EUR/USD 1.1714 

GBP/ZAR 16.905

 

Leave a Reply

Your email address will not be published. Required fields are marked *

sixteen − nine =

What's Going On?

Currencies 4 You Limited is a company registered in England and Wales (registered no. 06866898). Registered office: Regus House, Victory Way, Admirals Park, Crossway Dartford, DA2 6QD. Currencies 4 You's Payment and Foreign Currency Exchange Services are provided by Ebury Partners UK Limited. Ebury Partners UK Ltd is 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: Z209673X | Terms and Conditions | Privacy Statement | Careers