Higher than expected inflation figures in the UK have fuelled speculation of a further interest rate rise boosting sterling to a three week high against the dollar.
This morning the dollar was at 1.9622 to sterling while the pound bought
1.4745 euros.
Data from the Office for National Statistics showed consumer price inflation rose to an annual 2.8 per cent in February. The Bank of England's target is two per cent.
Meanwhile, retail price inflation rose to its highest since August 1991, and stands at 4.6 per cent.
"It's another sign that inflation pressures are being persistent," James Knightley, an economist at ING Financial Markets, told Economic News.
"It increases the possibility of another rate rise from the Bank of England. I think what we'll see is a 25 basis-point increase in April."
Please note: All rates are subject to change, for the latest up-to-date rates check our Currency converter
Contact Us
Currency Converter
Today's Currency News
Markets are gearing up for an action-packed trading session, with key policy meetings of the BoE and...
Currency Rates
| US Dollars | 1.5837 |
| Euros | 1.1915 |
| Swiss Francs | 1.4426 |
| Australian Dollars | 1.4664 |
| South African Rand | 12.035 |
| GBP indicative mid-market rate at 16:50. Please call for quote. | |
Currency Solutions Ltd is registered in England, Company No. 4864491.
© 2003 - 2012
Registered address is Hobbs Court, 2 Jacob Street, London SE1 2BG.
HM Revenue & Customs, No. 12162570
Regulated and authorised by the Financial Services Authority,
as a Payment Institution, No. 512130