Currency news

Risk appetite adds demand for GBP

Head of FX Analysis at Equals Money
-
3
min read
Publish date
09/08/24
  • Rebound in markets continue


Yesterday's currency recap

US jobless claims came in lower than expected yesterday afternoon, dampening the recent fears over the US economy. Following this latest data, interest rate pricing for September cuts in the US reduced by 3 basis points, causing US equities to climb higher. USD gained across the board as a result, along with GBP due to its correlation with equity market performance.

Today's GBP rates

Currency pair Daily move* Indicative rate**
GBPAUD -0.56% 1.9359
GBPCAD 0.24% 1.7508
GBPCHF 0.85% 1.1030
GBPDKK 0.48% 8.7128
GBPEUR 0.48% 1.1675
GBPJPY 0.68% 187.4520
GBPNOK 0.80% 13.8280
GBPNZD 0.23% 2.1223
GBPSEK 0.77% 13.4195
GBPUSD 0.40% 1.2743


*Daily move - against
G10 rates at 7:30am, 09.08.24

** Indicative rates - interbank rates at 7:30am, 09.08.24

Key data points

Currency Event Period Consensus Previous
CAD Unemployment Rate Jul 6.50% 6.40%

Upcoming speeches

  • None today.

What we think

Very little in the diary today aside from Canada unemployment numbers, so we expect markets to continue to push higher on boosted risk sentiment. As a result, we expect GBP to continue to recover the lost ground seen over the last week. Next week’s economic calendar looks far busier with the release of UK job numbers, US and UK inflation numbers, UK and EU GDP as well as UK and US retails sales.

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