GBP: UK GDP data expected this week
It is a moderately quiet day for data today. Key data markets will be watching out for is GDP this Friday.
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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
Monday, 7 November 2022
GBP / EUR
▼ 0.05%
1.1981
A transfer of €300,000 would cost
£115 more
today than yesterday.
GBP / USD
▲ 0.48%
1.3499
A transfer of $350,000 would cost
£1,255 less
today than yesterday.
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Sterling’s recovery from 51-year low against the dollar stalled
Sterling's recovery from its historic low against the dollar in September seemed to have stalled towards the end of last week.
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USD: How far will war on inflation damage US jobs?
The dollar is still enjoying its interest rate boost, prompted by Federal Reserve Chair Jerome Powell’s hawkish comments on interest rates. Two days after hiking rates by another 75 basis points to 4% he said it was “very…
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EUR: Euro posts losses against all but sterling
The single currency has made losses against most major currencies in the past 24 hours, apart from the pound, against which it has strengthened by close to 1%. That has, indeed, been the pattern of the week, with…
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GBP: Pound slumps as Bank slams on the brakes
It’s been a torrid week for sterling, weakening by between 1.5% and 3.5% against its closest 10 rivals, and by even more against currencies like the high-flying Brazilian real. Nevertheless there is evidence of stability and some recovery…
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Monetary policy report sinks sterling
It wasn’t so much the widely expected 75 basis-point rise in interest rates – the largest for 33 years – that has sunk the pound, as the Bank’s warning of a two-year recession and doubling unemployment. There was…
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USD: Significant gains against the pound
After a choppy week, the US dollar made gains against the pound. This has continued this morning and it is now 2.9% higher than yesterday's rate.
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EUR: European stocks fall
Yesterday data from Germany told us the trade surplus fell from €16.1 billion in September 2021 to €9 billion last month.
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