Sending a larger amount to ? Request a Free    Multi-Vendor Quote
Recent Transfers
Request a Multi-Vendor Transfer Quote
 
GBP
Please wait

Welcome to BestExchangeRates
United Kingdom
 

GBP 1.00 = USD Inter-Bank Mid-Market Rate    Invert Rate
Here at BER we are dedicated to helping you find the best possible currency exchange rates for British Pound Sterling Wire Transfers and Travel Money plus market research and information on both banks and non-bank currency providers. Select
GBP Mid-Rates & Charts (30 days & 3 years) :

Thursday, 31 July 2014 - Market Commentary
Daily currency news provided by UkForex

: It was a risk off morning yesterday. The dollar strengthened and GBP/USD meandered lower as investors keenly awaited a plethora of data and market moving events from the States. US ADP Non-Farm Employment Change was first up and printed weaker than expected; companies added 218,000 workers in July vs. expectations for 234,000. Fifteen minutes later Advance 2nd quarter GDP q/q was released, rising to an annualised rate of 4% vs. expectations for 3.2%. It was a big surprise - brought on by big gains in consumer spending and business investment – and the dollar jumped. GBP/USD eventually bottomed out at 1.6890. As for the FOMC statement, it failed to live up to expectations of the hawks. As expected the Fed tapered its QE program by a further $10 billion and kept interest rates at 0.25%. In the statement the central bank said that "a range of labour market indicators suggests that there remains significant underutilization of labour resources." With regards to inflation they said that the likelihood of inflation running persistently below 2% had diminished somewhat but that accommodative policy would be appropriate for “considerable time” after the end of the asset purchase program. No great surprises there but the dollar softened on the news as those hoping for some kind of signal of an interest rate hike were left disappointed. GBP/USD recovered to 1.6926 but it is falling off again this morning following comments by the Bank of England’s Ben Broadbent. He has said in an interview with Bloomberg that it’s quite possible that the pound is overvalued, amongst other things. Meanwhile German employment data has just been released and has come in better than expected which is causing EUR/GBP to rally. As a result GBP/USD opens this morning at 1.6885. `
We expect a range today in the GBP/USD rate of 1.6850 to 1.6945
⇒ view full report Charts : GBP/USD GBP/EUR GBP/AUD GBP/JPY GBP/CHF GBP/CAD GBP/CNY
: EUR/USD fell in line with most other currencies vs. the dollar yesterday, this mainly as a result of the stronger than expected GDP data. Despite the mildly better than expected German inflation data , also released yesterday, EUR/USD ended up slumping to a low of 1.3367. It recovered post FOMC statement and opens this morning at 1.3390. A run of positive economic data has been released from Europe this morning, including German Retail Sales, German Unemployment Changes and French Consumer Spending but despite this EUR/USD has failed to make a convincing break back through 1.34. Investors are perhaps a bit cautious to bid the single currency higher ahead of European inflation data this morning and amid the risk off nature of trading currently. Meanwhile GBP/EUR has fallen this morning in light of the solid European data and trades at 1.26 currently.
We expect a range today in the GBP/EUR rate of 1.2580 to 1.2640
⇒ view full report Charts : EUR/USD EUR/AUD EUR/JPY EUR/CHF EUR/CAD EUR/CNY
: It’s been a fairly quiet session again for both AUD/USD and NZD/USD. Australian building approvals data was released overnight and came in weaker than expected which has put some downward pressure on the Aussie whilst NZD/USD has settled within a steady range and opens in London at .8485.
We expect a range today in the GBP/AUD rate of 1.8100 to 1.8240
We expect a range today in the GBP/NZD rate of 1.9800 to 1.9990
⇒ view full report
The U.S Dollar has capped off its broadest monthly advance in more than a year after better than expected unemployment claims boosted overall labour market strength and fired increased speculation the Federal Reserve will look to adopt a more hawkish stance. The Fed has labelled labour market stability as key to its monetary policy decision making and the reduction in unemployment claims on a four week average bolsters expectations that with strong Non-Farm payroll numbers the central bank will be forced to stash its dovish tone. The Greenback rally was buoyed further as Argentina failed to meet debt repayments defaulting for the second time in 13 years and sparking a widespread flight to safe haven assets.
The Euro met increased downward pressure as the 18 nations inflation report revealed an unexpected slow down. The inflation rate fell from 0.5% in June to 0.4% for July a reading well below the European Central Bank’s 2% target. The bloc unit’s currency has struggled to keep pace with its US counterpart and looks set to close the week below 1.34.
Data releases
PPI and AIG Manufacturing Index
NZD: No Data
BoJ Gov Kuroda Speaks and Final Manufacturing PMI
⇒ view full report Charts : USD/EUR EUR/USD USD/JPY

Why is it that when I go into a currency vendor to send money I never get the rate on the news?

You may well think that you are being ripped off, but it is not always the case. In simple terms what you see on the news or in the paper or on yahoo finance is the Middle Rate or mid-rate. Some people want to buy a currency and some people want to sell a currency and there is a gap (or margin) between the price at which you buy and the price at which you sell. ⇒ read article

What makes sending money internationally so expensive?

There are a number of cost components to making and receiving international payments, most of which are far from transparent to customers: Currency fees, Transit fees, Correspondent bank fees etc ⇒ read article

Top Five Tips for Buying Property Overseas from the UK

Whatever your motivation for buying overseas property, the following top five tips can help assure that you have a more positive experience in doing so. ⇒ read article

BestExchangeRates in the PressSMH.com.au Money

“A check with the foreign-exchange comparison website bestexchangerates.net shows a big variation in the exchange rates available when sending money and buying cash.” SMH.com.au ⇒ read article

This is an information service. By browsing on the website and/or using our comparison tools, you are asking BestExchangeRates to provide you with information about currency exchange products & services from multiple financial institutions. We will try to show you a range of products & services in response to your request for information. The search results do not include all providers and may not compare all features relevant to you. In giving you product information we are not making any suggestion or recommendation to you about a particular product. If you decide to conduct foreign exchange you will deal directly with a financial institution, and not with BestExchangeRates. Rates and product information should be confirmed with the relevant financial institution, see our terms of use for further details. BestExchangeRates may receive fees or other benefits in relation to activity on the BestExchangeRates website. BestExchangeRates may receive remuneration for vendor referral links.    TOS | Full disclaimer | Privacy Statement | Facebook