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Weekly Market Analysis April 18th 2017 |
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GBP volatile as UK General Election called The pound managed to hit new highs against a number of its main currency rivals as markets reopened after the Easter break, with GBP/EUR pushing above €1.1850 and GBP/USD achieving $1.26. However, an unscheduled announcement from Prime Minister Theresa May later inspired notable GBP volatility. Keep reading to find out what news will be driving the major currencies this week... |
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Today's Rate The rates above are using the British pound (GBP) as the base rate. All rates are for indication purposes only. Prices can vary dramatically based on amount and delivery date. |
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| | “...However, the prospect of a surprise statement from the PM soon saw the pound give up its gains.”  Transfer 24/7 with our currencies direct app   |
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Pound The pound returned from the Easter break refreshed, rejuvenated, and trending higher across the board. While GBP/EUR was able to hit €1.1834 – it’s highest level since February – GBP/USD advanced from $1.2548 to $1.2608 and GBP/AUD climbed 1% on the day’s opening levels to achieve AU$1.6712. However, the prospect of a surprise statement from the PM soon saw the pound give up its gains. |
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Euro Concerns that the outcome of the French Presidential election are too close to call saw the euro slide against the pound on Tuesday, with EUR/GBP dipping to £0.8448. The euro managed to remain around the day’s opening levels against the US dollar however, with EUR/USD clinging to $1.0649. |
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US dollar The lingering impact of last week’s comments from President Donald Trump and fresh concerns about the tense relationship between the US and North Korea saw the US dollar briefly extend losses against the pound on Tuesday. The USD/GBP exchange rate dipped to a low of £0.7934, with USD/EUR slipping to €0.9398. |
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Australian dollar & New Zealand dollar With appetite for higher-risk currencies severely dampened by the latest North Korean developments, both the Australian and New Zealand dollars came under pressure. The AUD/GBP exchange rate dropped from £0.6052 to £0.5985 as markets reopened after the Easter break, while NZD/GBP slumped from £0.5602 to £0.5565. |
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