Pound Sterling (GBP)

GBP/EUR - Today's data summary

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Price Euros
As of 19:39 16 Oct 2018

GBP/JPY - Today's data summary

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Price Yen
As of 19:41 16 Oct 2018

GBP/USD - Today's data summary

% change
Price US dollars
As of 19:39 16 Oct 2018

Latest updates

Pound pushes above $1.32

Pound dollar

The pound has perked up after the latest UK data on jobs and wages.

It rose above $1.32, almost half a cent above Monday's close.

"There has been an underlying strength in sterling this week despite negative developments no the Brexit front as far as reaching a deal is concerned, with the pound recovering steadily after starting the week on the back foot. Comments this morning from a German official that talks are on track to meet a November timeframe are another pleasing development but there remains some significant hurdles to jump first," said David Cheetham, chief market analyst, at XTB.

Pound falls against dollar and euro

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The pound has slipped a third of a cent to trade at $1.3111 after Brexit talks between the UK and the EU faltered over the Irish border.

Sterling is also down a third of a cent against the euro, at €1.1352.

Kathy Lien, managing director of foreign exchange strategy at BK Asset Management, says: "The clock is ticking and a deal is drawing close but having been burned by false hopes, investors are ignoring the conflicting headlines and waiting for official confirmation."

Pound retreats

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Sterling has fallen as investors took profits after a rally that has left the pound poised for a second consecutive week of gains on growing optimism about an agreement on a Brexit deal.

The currency slid as low as $1.3171, down 0.5%. Against the euro, sterling was flat at €1.1418.

Scotiabank analysts said in a note: "We still rather think the road to an agreement is highly uncertain as plans appear to revolve around the UK remaining in an effective customs union with the EU indefinitely after 2020. That hardly equates to even the basic notion of 'Brexit' and if it is PM May's intention to push ahead with this idea, it may struggle to get through parliament."

Pound above $1.32

Pound coins
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Sterling remains above $1.32 after EU Brexit negotiator Michel Barnier's comments yesterday that progress had been made on a deal with the UK over its withdrawal, as well as on the Irish border issue.

Hopes are building that a Brexit deal can be reached before an EU summit on 18 October and sterling is benefiting as some investors unwind short bets on the currency.

The pound is up 0.3% at $1.3233 but down a touch against the euro at €1.1439.

Pound gains against euro on Brexit hopes

Pound and euro curencies
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Sterling has hit a four month high against the euro, up 0.21%, at €1.1462, on hopes that the UK can soon agree a Brexit deal with the European Union.

However, Kengo Suzuki, chief FX strategist at Mizuho Securities, cautioned: "We can't be too optimistic about the Brexit process, because even if a deal can be struck at an anticipated special EU summit in November, it has to get through the British Parliament."

The pound has trimmed gains against the dollar and is now trading up 0.10% at $1.3156.

BreakingFTSE and sterling recover

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The FTSE 100 has ended the day 10 points higher at 7,243 - up about 0.15% after a late rally.

Sterling also recovered on rising hopes of a breakthrough in Brexit negotiations, stabilising at about $1.31 after earlier falling as much as 0.4% to $1.3034.

"The pound can definitely move higher from current levels but the markets are waiting for news on a substantial breakthrough in Brexit negotiations and until that materialises, we are trapped in a range," said Viraj Patel at ING in London.

European Union negotiators said on Friday an agreement with Britain was "very close" and European Commission President Jean-Claude Juncker said on Saturday a deal would be reached in November, if not this month.

Pound drops on Bank warnings

Pound figures

The pound is also suffering today. It's down against all major currencies, as our graph shows.

It's at $1.3044 against the dollar, €1.1380 against the euro, and 147.6250 against the yen.

Pounds slips in morning trading

Pound graph

The pound has fallen 0.45% against the dollar this morning, to $1.3057.

The decline is being blamed partly on continued worries over Brexit, and also partly due to the dollar's strength, which has been helped by a string of upbeat US economic data.

Against the euro, the pound is down 0.14% at €1.1369.

Sterling rally limited by Brexit uncertainty

Today Programme

BBC Radio 4

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What does sterling need to start rallying? "Clearing away the uncertainty surrounding Brexit," Jane Foley, senior strategist, Rabobank tells the Today programme.

She said: "If we had news of a deal soon, sterling would see a knee-jerk reaction and it would rally.

"But what happens over the next six months would really depend on the terms of that deal."

However, she warned that "if there is some sort of fudge and the current uncertainty is pushed beyond the Brexit start date next March, the extent to which sterling can rally would be limited."

Pound rises over $1.30

Pound coins and notes
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The pound is back above $1.30 after rising 0.17%. It is trading at $1.3043 against the dollar.

Sterling is also ahead of the euro, up 0.12% at €1.1323.