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20/03/2018 – This Morning’s Exchange Rates

• Posted by currencies in Rate Alerts
• March 20, 2018
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The exchange rates are listed at the bottom of this article. Please note they are for indication only. For a live quote please contact us.

The British pound dropped off slightly after data showed UK inflation slowed more than forecast in February, the first in a series of economic reports due during a week when the Bank of England is expected to signal interest rates will rise as early as May.

Britain’s agreement with the European Union on Monday for a Brexit transition deal – which had sent sterling soaring – clears the path for the BoE to raise rates as early as May. Markets factor in a roughly 70 percent chance of a rate increase despite February’s slowing inflation.

Official data published on Tuesday showed consumer prices rose an annual 2.7 percent last month, the weakest increase since last July as the impact of the 2016 Brexit vote faded from the figures.

Wage growth numbers are due tomorrow and the BoE decision on Thursday. The central bank has signaled that it wants to see wage pressures building before it hikes rates.

GBP/EUR 1.1390
GBP/USD 1.3995
GBP/AED 5.1323
GBP/AUD 1.8168
GBP/CHF 1.3362
GBP/CAD 1.8298
GBP/NZD 1.9393
EUR/USD 1.2271
GBP/ZAR 16.649