Exchange Rate in United Kingdom

United Kingdom - Exchange Rate (average of period)
Pound set to continue rollercoaster ride
The British pound (GBP) has shown high volatility lately amid political turmoil regarding Brexit and debate over when to initiate formal negotiations with the European Union. In the last month, the currency has hovered around USD 1.24 per GBP (EUR 1.14 per GBP), over 15% weaker than on the day of the referendum when it traded at 1.49 against the greenback (EUR 1.31 per GBP). The currency has been under pressure since Prime Minister Theresa May’s announcement that the UK would trigger Article 50 of the Lisbon Treaty before March of next year. The possibility that the government is heading for a “hard” Brexit—no tariff-free access to the European market and restrictions on labor movement—is raising concerns among investors.
In November, the pound has had some short-lived rallies. On 3 November, the currency surged more than 1.0% and traded at USD 1.24 per GBP (EUR 1.12 per GBP) following the verdict of the High Court that the UK government needs parliamentary approval to officially start the country’s exit from the Union. The majority of Members of Parliament do not support Brexit, and the decision of the High Court could delay Brexit or “soften” the exit. Moreover, the pound benefited from the Bank of England’s decision on the same day to keep rates unchanged on the back of the better-than-expected performance of the economy after the referendum vote.
Following the victory of Donald Trump in the U.S presidential elections, the pound surged 1.2% on 10 November and traded at 1.26 against the greenback (EUR 1.15 per GBP) since market concern shifted from the pound to the euro on fears of an increasing wave of populism across Europe. Looking forward, analysts expect further volatility of the sterling as the government will appeal the verdict to the UK’s Supreme Court on 5 December. The pound will experience more pressure should that decision rule in favor of the government.
FocusEconomics Consensus Forecast panelists expect the pound to end 2016 at 1.23 GBP per USD. In 2017, the panel sees the currency trading at 1.24 GBP per USD.
United Kingdom - Exchange Rate (aop) Data
2015 | 2016 | 2017 | 2018 | 2019 | |
---|---|---|---|---|---|
Exchange Rate (vs USD, aop) | 1.53 | 1.36 | 1.29 | 1.34 | 1.28 |
United Kingdom Exchange Rate (aop) Chart

Source: Thomson Reuters.
United Kingdom Facts
Value | Change | Date | |
---|---|---|---|
Bond Yield | 0.83 | -3.04 % | Jan 01 |
Exchange Rate | 1.33 | -0.35 % | Jan 01 |
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Economic News
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United Kingdom: Composite PMI deteriorates in January
January 24, 2023
The S&P Global/CIPS Flash Composite Purchasing Managers’ Index (PMI) came in at 47.8 in January, down from December's 49.0.
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United Kingdom: Consumer confidence eases in January
January 23, 2023
Consumer confidence fell to minus 45.0 in January from December's minus 42.0.
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United Kingdom: Inflation falls to lowest level since September in December
January 18, 2023
Inflation dropped to 10.5% in December from November’s 10.7%.
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United Kingdom: Labor market remains an economic bright spot in Q4
January 17, 2023
According to the ONS, in September–November the unemployment rate registered 3.7%, while the redundancy rate was below pre-pandemic levels.
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United Kingdom: Economic activity growth slows in November
January 13, 2023
GDP rose 0.1% month-on-month in seasonally-adjusted terms in November (October: +0.5% mom).