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23/05/2019 – This Morning’s Exchange Rates

Please see this morning’s exchange rates listed at the bottom of the article. The rates are there for indication purposes only. For live accurate prices please contact us.

Sterling plunged again in early London trading this morning as pressure mounted on Prime Minister Theresa May to name a date for her departure.

The British currency has been falling heavily in the past few days. May’s last-ditch attempt to get backing for a Brexit deal triggered a revolt yesterday by some of her Brexit-supporting ministers, deepening the political uncertainty in Britain.

The pound dropped 0.4% to a new 4-1/2 month low this morning. It is the worst performing major currency in May, and so far, has lost 3.3% of its value against the dollar.

The pound has weakened for 14 consecutive days against the single currency.

The dollar hit its highest level in a month as economic and political uncertainties swept through Europe and Asia, pinning down most major currencies such as the euro and the yuan.

While the United States is not without its own worries — a trade conflict with China being a major one — investors see the greenback as a relative safe haven.

GBP/EUR 1.1314

GBP/USD 1.2609

GBP/AED 4.6233

GBP/AUD 1.8344

GBP/CHF 1.2721

GBP/CAD 1.6972

GBP/NZD 1.9424

EUR/USD 1.1129

GBP/ZAR 18.133

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