Forex Weekly Round Up 11/4/16 – 15/4/16

The British Pound traded higher before leveling out versus other major currencies after the UK’s Consumer Price Index figures released on Tuesday showed inflation hit a 15-month high in March. Headline CPI showed an annual rise of 0.5%, above the expected 0.4%.

On Wednesday US retail sales figures (month on month) unexpectedly fell in March as households cut back on purchases of automobiles and other items showing a stump in growth in the first quarter. Other data on Wednesday showed a surprise drop in producer prices last month as rising energy prices were offset by a decline in the cost of services.

Thursday brought news Yesterday the Bank of England decided to hold rates at 0.5% once again, a record low for seven years. All nine members of the BoE’s Monetary Policy Committee voted to hold rates amid concerns over global growth and uncertainty ahead of the Brexit vote.

Here are the exchange rates taken at 15:20 today. Please note that all conversions are based on interbank rates without any spreads and should be used only as a guide. For live ‘spot’ and ‘forward’ prices please feel free to drop us a line.

GBP/USD 1.4192
GBP/EUR 1.2544
USD/EUR 0.8840