GBP: Pound rises despite dearth of data
Sterling gained as much as 0.5% against major rivals yesterday, taking the week’s gains on USD to 0.6% but approaching the end of the week marginally down on EUR.
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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
Friday, 26 April 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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Surprise US data shakes up markets, boosts sterling
Sterling continued its upwards trajectory yesterday, powered against the US dollar by a surprise for US Gross Domestic Product (GDP). America’s economy grew by an annualised 1.6% in the first quarter of 2024, nearly halving from Q4 of…
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Euro edges higher against US dollar
While the pound remains largely unchanged against its major rivals, all eyes are on the euro-to-US dollar rate, which met fresh demand this morning, gaining close to 0.4%. The focus for the pairing remains on key US data.
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USD: Data-heavy Friday
Tomorrow, US dollar investors will have their eyes set on key economic releases, including the Core PCE price index, which is forecast to remain at 0.3%, as well as personal spending and income figures.
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EUR: Eyes on US data
The euro soared to a position not seen since April 12 against the US dollar this morning as demand in the early European session supported the euro. Despite these gains, EUR/USD is over 1% lower than last month.
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UK car production breaks growth cycle
UK car production declined 27.1% in March, breaking the six-month consecutive monthly growth streak. This comes as manufacturers adjust for the next generation of cars, which are mainly electric.
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Pound bounces back
Sterling swept upwards yesterday after crashing to its lowest level against the euro since the start of 2024 and against the US dollar since even further back. The reason for the movement is senior Bank of England interest…
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USD: Flash in the pan
Preliminary (or flash, to use economic parlance) composite PMI data for the US came in below expectations at 50.9 in April, well below March’s 52.1. The US dollar tumbled in the aftermath, but it may take some time…
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