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28/05/2020 – This Morning’s Exchange Rates

  • Posted by currencies in Rate Alerts
  • May 28, 2020
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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 was flat against the dollar and euro in early London trading, near the lows reached the days before on reports that Brexit talks are at an impasse.

Sterling fell 1% after Britain told the European Union on Wednesday it needed to break a fundamental impasse to clinch a Brexit trade deal by the end of the year.

British Prime Minister Boris Johnson will resume Brexit talks in person in Brussels next month, the Times newspaper reported. The government insists it will not extend the transition period.

The pound is near its lowest levels in more than three decades, as it grapples with Brexit, the prospect of negative interest rates in Britain, a deep recession and a growing pile of debt.

Bank of England Governor Andrew Bailey said on Wednesday that the central bank was right to consider cutting rates below zero to give the economy an extra boost, but that careful thought would need to be given to the side-effects of doing so.

Britain has the worst coronavirus death toll in Europe. A COVID-19 test and trace service is due to start in England today to allow the loosening of lockdown measures for most of the population.

GBP/EUR 1.1140 GBP/USD 1.2255 GBP/AED 4.4995

GBP/AUD 1.8551 GBP/CHF 1.1879 GBP/CAD 1.6889

GBP/NZD 1.9831 EUR/USD 1.0989 GBP/ZAR 21.287

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