31/08/2017 – This Morning’s Exchange Rates

  • Posted by currencies in Rate Alerts
  • August 31, 2017
  • No Comments

The exchange rates are listed at the bottom of this article. Please note the rates listed are for indication only. For live rates please contact us.

Sterling rebounded from 11-month lows to gain over half a percent versus the euro on Wednesday on speculation the European Central Bank might not tolerate a strengthening single currency for too long.

Focus remains on euro area inflation in August. Yesterday’s German and Spanish figures were both higher than expected but the upside surprise was driven mainly by energy price inflation and the higher inflation should not alter the ECB’s current view on its monetary policy strategy.

Euro area and German unemployment rate figures are also due for release today. Both figures have declined over the past years and the German unemployment rate is very low in a historical perspective. This has been one factor supporting consumer sentiment, which is at the highest level in more than 15 years. The ongoing strong economic situation in Germany bodes well for Angela Merkel in the upcoming election.

US inflation figures will attract attention in the afternoon with the release of the PCE figure. The decline in PCE core inflation in the first half of this year has sparked some concern about lack of inflation pressure within the Fed.

Nevertheless, the Fed has said quantitative tightening will begin ‘relatively soon’ and we expect it to be announced in September.

The U.S. dollar continued its recovery from a 2.5-year low on Tuesday, supported by U.S. economic data which surpassed economists’ expectations.

With a GDP growth at 3% the U.S. economy grew at its fastest pace in more than two years, while ADP employment data showed private-sector payrolls up by 237 thousand compared to the expectations of only 185 thousand.

GBP/EUR 1.0822

GBP/USD 1.2884

GBP/AED 4.6361

GBP/AUD 1.6314 

GBP/CAD 1.6269 

GBP/CHF 1.2408

GBP/NZD 1.8003

EUR/USD 1.1865 

GBP/ZAR 16.696

Leave a Reply

Your email address will not be published.

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 for clients based in the United Kingdom and rest of the world, payment services for Currencies4you are provided by The Currency Cloud Limited. Registered in England and Wales 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 (FRN: 900199).For clients based in the European Economic Area, payment services for Currencies4you are provided by CurrencyCloud B.V.. Registered in the Netherlands No. 72186178. Registered Office: Nieuwezijds Voorburgwal 296 - 298, Mindspace Nieuwezijds Office 001 Amsterdam. CurrencyCloud B.V. is authorised by the DNB under the Wet op het financieel toezicht to carry out the business of an electronic-money institution (Relation Number: R142701). For clients based in the United States, payment services for Currencies4you are provided by The Currency Cloud Inc. which operates in partnership with Community Federal Savings Bank (CFSB) to facilitate payments in all 50 states in the US. CFSB is registered with the Federal Deposit Insurance Corporation (FDIC Certificate# 57129). The Currency Cloud Inc is registered with FinCEN and authorised in 39 states to transmit money (MSB Registration Number: 31000206794359). Registered Office: 104 5th Avenue, 20th Floor, New York, NY 10011. 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). Payment services for Currencies 4 You Ltd are provided by Sciopay Ltd. Sciopay Ltd is a company incorporated in England & Wales. Registration No: 12352935. Sciopay Ltd is licensed and regulated by HMRC as a Money Service Business (MSB). Licence No: XCML00000151326. Sciopay Ltd is authorised by the Financial Conduct Authority as an Authorised Payment Institution. Firm Reference Number: 927951. Currencies 4 you's payment and foreign currency exchange services are provided by Global Currency Exchange Network Ltd T/A GC Partners. Global Currency Exchange Network Ltd is authorised by the FCA under the Payment Services Regulations, 2017 (FRN: 504346). Registered as a Money Services Business, regulated by HM Revenue & Customs ("HMRC") under the Money Laundering Regulations 2017. (Registration number is 12137189). Registered in England and Wales. Company number 04675786. Registered Office 3rd Floor 100 New Bond Street, London, England, W1S 1SP. | Terms and Conditions | Privacy Statement | Careers