US inflation eases, boosting GBP/USD to highest in a month
GBP/USD zipped up to its highest in over a month yesterday, as falling inflation pushed investors away from the US dollar.
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Daily Currency Note
Stay informed. Stay in control.
Currency rates fluctuate by the second and can change by up to 10% in the space of a year. On a typical overseas money transfer, that's the difference between completing on budget and needing pay thousands more. Our daily notes keep you informed on every move in GBP, EUR and USD, so you can make confident decisions about when to lock in your rate.
Today's move
Thursday, 16 May 2024
GBP / EUR
▲ 0.12%
1.1671
A transfer of €300,000 would cost
£307 less
today than yesterday.
GBP / USD
▲ 0.53%
1.3438
A transfer of $350,000 would cost
£1,380 less
today than yesterday.
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Inflation news highlights benefit of safety-first strategy
Sterling was the winner and the US dollar the loser from another round of “who’s going to cut interest rates first?” yesterday, after unemployment rose in the UK and inflation expectations rose in the USA. The Bank of…
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GBP/USD climbs as Powell warns against rate cuts
Another logic-defying, volatile day in currency markets yesterday saw the pound gain ground over the US dollar even as the Federal Reserve played down the prospect of interest rate cuts.
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USD: US inflation expectations rise in April
US consumer inflation expectations for the year ahead increased to 3.3% in April 2024, the highest in five months, from 3% in each of the previous four months. Tomorrow afternoon, the US core inflation rate is expected to…
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EUR: Investors eye UK jobs report
After two consecutive weeks of advances against the pound, euro investors will be keeping a close eye on the UK jobs report which was released this morning. Strong pay data could give the pound the boost it needs…
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