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Pound rates begin to improve | Travelex currency commentary

18th July 2016

Since our last update on 24th June, the pound continued to weaken against the US dollar to a low point on 28th June 2016. However, following the relative certainty of having a new Prime Minister in place and the Bank of England’s recent announcement to hold interest rates, FX markets have reacted accordingly. The pound has gained against the US dollar and euro, and rates have improved compared to last week on almost all currencies.

You can now get an extra €15.56 per £500 when ordering at travelex.co.uk and an extra $17.44 per £500, compared to a recent post-Brexit low point of GBP/EUR (7/7/2016) and GBP/USD (28/6/2016).

Over the next couple of days, exchange rates may potentially be impacted by tomorrow’s release of UK inflation figures, along with the European Central Bank interest rate decision on Thursday. Keep up to date with the very latest exchange rates here, or head to our Travelex exchange rate updates section for all the latest currency news.