US Dollar (USD)

USD/EUR - Today's data summary

% change
+0.01%
Price Euros
0.9029
Change
0.0000
As of 10:58 15 Sep 2019

USD/GBP - Today's data summary

% change
+0.02%
Price Pound sterling
0.7998
Change
0.0000
As of 10:58 15 Sep 2019

USD/JPY - Today's data summary

% change
+0.01%
Price Yen
108.1050
Change
+0.0050
As of 10:58 15 Sep 2019

Latest updates

Pound remains in the doldrums

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The value of the pound remained in the doldrums today as investors scrabble to sell the currency amid worries that a general election in the UK could add to Brexit uncertainty.

Now worth less than $1.20, the pound has lost 20% of its value against the dollar since the Brexit referendum and is regularly trading at its lowest level since 1985, barring a brief "flash crash" in October 2016 when it fell as low as $1.15.

The pound is down 0.4% against the euro and 0.7% against the dollar.

Pound flat

After a tumultuous week that has seen the value of the pound fluctuate against both the euro and the dollar, sterling has been relatively stable so far today.

At present £1 is worth €1.10 and $1.22 on currency markets.

Pound falls as Johnson threatens to suspend parliament

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The value of the pound has fallen this morning following news that Prime Minister Boris Johnson is planning to suspend parliament in a move that is expected to prevent opposition leaders from passing a law to stop a no-deal Brexit.

The pound is down 0.4% against the euro and 0.5% against the dollar. So £1 is now worth €1.10 and $1.22.

No-deal Brexit fears weigh on pound

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The pound continued to trade lower against the dollar and the euro amid fears about a no-deal Brexit.

Prime Minister Boris Johnson is set to meet with German Chancellor Angela Merkel in Berlin.

Mrs Merkel said on Tuesday that she was open to "practical solutions" regarding the Irish backstop after Mr Johnson called the plan "anti-democratic" and said it must be scrapped.

Marshall Gittler, chief strategist at ACLS Global, says Mrs Merkel comment "was viewed as a possible signal that the EU could be willing to negotiate on this point, but frankly I doubt it".

"I think she was just being polite."

Sterling is 0.32% down against the dollar at $1.2132. It is 0.28% lower on the euro at €1.0934.

Sterling ticks lower

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The pound is trading 0.29% lower against the dollar at $1.2135.

Sterling is also 0.25% down on the euro at €1.0938.

'Brexit noise' buffets pound

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The pound clawed back a little ground against the dollar and the euro by late morning trade but its trajectory is likely to be unsettled.

"More Brexit noise is likely as Europe ‘responds' to Prime Minister Johnson's demands," said Kit Juckes, macro strategist at Societe Generale.

Sterling is down 0.21% against the dollar at $1.2100, and 0.25% lower on the euro at €1.0920.

Pound drops on PM Irish backstop missive

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Sterling fell against both the dollar and the euro after Prime Minister Boris Johnson told the EU that the Irish backstop is "anti-democratic" and must be scrapped.

In a letter to European Council President Donald Tusk, the PM said the backstop - which aims to avoid a hard border - risked undermining the Northern Irish peace process.

The pound fell 0.31% against the dollar to $1.2090. It dropped 0.33% on the euro to €1.0911.

Mr Johnson is set to meet with German Chancellor Angela Merkel tomorrow and France's President Emmanuel Macron on Thursday before world leaders gather at the G7 summit in Biarritz at the weekend.

Elsa Lignos, analyst at RBS Capital Markets, forecasts that sterling could recover.

"We are tactically long [on] GBP in our trade of the week as we feel there is some short term risk of a bounce if this week's talks are not as bad as feared," she says.

Pound slides on the dollar and the euro

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The pound is down 0.24% against the dollar at $1.2119. Sterling is also trading 0.31% lower against the euro at €1.0917.

It is a key week for Boris Johnson who will meet with German Chancellor Angela Merkel and French President Emmanuel Macron on Wednesday and Thursday respectively in the UK Prime Minister's first overseas meetings since his appointment.

He is expected to tell them that there needs to be a new Brexit deal. The UK is now 10 weeks away from the departure date on 31 October.

It comes ahead of the G7 Summit in Biarritz at the weekend.

Marshall Gittler, a strategist at ACLS Global, says: "I expect the pound to be increasingly volatile as the deadline approaches and more and more desperate measures get considered in public and probably even tried in real life.

"Hopes that something will be found to prevent a no-deal Brexit will send the pound up, as they did on Friday, but then the currency will come back down once it's realised that those hopes are unfounded."

Sterling climbs against the dollar and euro

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The pound is trading 0.67% higher against the dollar at $1.2155. It follows better than expected retail figures earlier this week for July which indicated consumer resilience as Brexit approaches.

Sterling was also up against the euro, up 0.67% at €1.0964.

Marshall Gittler, chief strategist at ACLS Global, says: "This suggests consumer spending is still holding up and still supporting the economy even though overall output contracted in the second quarter.

"It ties in with the relatively high wage growth that we sawearlier in the week."

Pound edges ahead

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The pound ticked higher on the dollar this morning, up 0.14% at $1.2076.

Sterling is 0.10% ahead of the euro at €1.0836.