Wednesday, June 8, 2016

Forex – GBP Exchange Rates Regain Momentum as Traders Brace for ‘Brexit’

Fxpips.com – The British sterling was able to gain back some lost footing versus its key counterparts as of yesterday, rallying through 1.30 versus the Euro following a brief decline of 1.2669 the previous session.

The UK currency also advanced through 1.45 against the U.S greenback, which was somewhat impressive given the growing uncertainty in the run up to the polls which is now only less than a month away and the number of recent elections showing a majority for the Leave campaign.

Moments before the cut-off for registering to vote, Prime Minister David Cameron and the UKIP leader Nigel Farrage participated in a live debate on television, though not against each other, with both politicians answering questions from the audience and neither of the two debaters walking away with a convincing advantage.

Meanwhile, here's a quick look at the exchange rates:

As of yesterday the EUR/GBP exchange rate converts at 0.781; The live inter-bank Euro to British pound spot rate is quoted as 1.281 as of Wednesday, while the live inter-bank GBP-USD spot rate is quoted as 1.457 also as of Wednesday. The GBP/AUD exchange rate converts at 1.953 as of press time.


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