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04/01/2018 – This Morning’s Exchange Rates

• Posted by currencies in Rate Alerts
• January 4, 2018
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The exchange rates are listed at the bottom of this article. Please note that the rates are for indication only. For live quotes please contact us via phone, email or SMS.

The British Pound became one of the worst performing majors this morning in the early trading session as more sour news related to the UK crossed the wires.

Earlier on Wednesday, the IMF downgraded its prediction for economic growth in this country to 1.6% this year from 1.7%.

GfK consumer confidence clocked in at -13 in December versus -12 expected. This was the lowest outcome since December 2013, four years ago.

The decline in UK consumer confidence occurred amidst recent Brexit-related developments. Last week, Theresa May suffered a legislative defeat by 309 to 305 where pro-European Conservatives backed an amendment to her EU withdrawal bill over parliament’s right to a meaningful vote on the Brexit deal.

In addition, the Prime Minister conceded on Wednesday that Brexit could be delayed until after March 2019. She also insisted that it would only be in “exceptional circumstances for the shortest possible time”.

Sterling slipped from a three-month high above $1.36 on Wednesday, with currency traders cautious about pushing the pound too far without any new catalysts.

This morning we had the UK Services PMI data come in at 54.2 beating expectations of 54, also the UK Mortgage approvals were up.

GBP/EUR 1.1240
GBP/USD 1.3529
GBP/AED 4.8729
GBP/AUD 1.7256
GBP/CHF 1.3217
GBP/CAD 1.6949
GBP/NZD 1.9002
EUR/USD 1.2023
GBP/ZAR 16.490