Blog

28/02/2018 – This Morning’s Exchange Rates

• Posted by currencies in Rate Alerts
• February 28, 2018
• No Comments

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.

Sterling slightly fell this morning as investors are very cautious before the publication of a first EU draft of a withdrawal treaty.

EU negotiator Michel Barnier accused the British government on Tuesday of clinging to “illusion” while time runs out for a Brexit deal to avoid massive disruption when Britain leaves the European Union next year. The draft is due around 1100 GMT.

While sterling has gained nearly 3 percent this year against the dollar thanks to the greenback’s struggles in the opening weeks of 2018, it has only gained 1 percent against the euro in that period.

The dollar hit a three-week high after an upbeat assessment of the U.S. economy by Federal Reserve Chairman Jerome Powell’s boosted bets on more interest rate hikes.

Against a basket of currencies, the dollar rose 0.2 percent after a 0.6 percent rise on Tuesday that followed Powell’s testimony to U.S. lawmakers, which encouraged some investors to believe the Fed would raise rates four times this year rather than three.

GBP/EUR 1.1358
GBP/USD 1.3872
GBP/AED 5.0007
GBP/AUD 1.7775
GBP/CHF 1.3083
GBP/CAD 1.7722
GBP/NZD 1.9227
EUR/USD 1.2208
GBP/ZAR 16.153