Gbp rate

historical date Jun 15, 2023 23:15 UTC British Pound 1.00 GBP inv. 1.00 GBP US Dollar Euro Indian Rupee Australian Dollar Canadian Dollar Singapore Dollar Swiss Franc Malaysian Ringgit Japanese Yen Chinese Yuan Renminbi Alphabetical order Jun 15, 2023 23:15 UTC British Pound 1.00 GBP inv. 1.00 GBP Argentine Peso Australian Dollar Bahraini Dinar Botswana Pula Brazilian Real Bruneian Dollar Bulgarian Lev Canadian Dollar Chilean Peso Chinese Yuan Renminbi Colombian Peso Czech Koruna Danish Krone Euro Hong Kong Dollar Hungarian Forint Icelandic Krona Indian Rupee Indonesian Rupiah Iranian Rial Israeli Shekel Japanese Yen Kazakhstani Tenge South Korean Won Kuwaiti Dinar Libyan Dinar Malaysian Ringgit Mauritian Rupee Mexican Peso Nepalese Rupee New Zealand Dollar Norwegian Krone Omani Rial Pakistani Rupee Philippine Peso Polish Zloty Qatari Riyal Romanian New Leu Russian Ruble Saudi Arabian Riyal Singapore Dollar South African Rand Sri Lankan Rupee Swedish Krona Swiss Franc Taiwan New Dollar Thai Baht Trinidadian Dollar Turkish Lira Emirati Dirham US Dollar Venezuelan Bolivar

The US Dollar (USD) rallied against the Pound Sterling (GBP) and Euro (EUR) currencies on Wednesday after the Federal Reserve paused its cycle of interest-rate hikes, albeit with an update that was perceived by markets as even more hawkish than expected. The Pound to Dollar (GBP/USD) exchange rate fell to 1.26632, 0.45 percent higher than the daily open. The key driver, according to an analysis by ING Bank, was the hawkish pause by the FED, whereby they revised higher their 2023 Dot Plot projections. "The channel used by the Fed to express that hawkishness was the significant revision higher in the 2023 Dot Plot projections," says Knightley. This decision, made by the Federal Open Market Committee, signifies a change in how they interpret inflation which had skyrocketed to a 40-year peak of 9.1% last June, due to rising costs of food and energy, but dropped to a record low since April 2021 of 4% in May. Despite this pause, Fed officials indicate that future rate increases are possible if the economy moves closer to their 2% inflation goal. This could lead to an increase in the cost of borrowing, impacting mortgages, car loans, and student loans. Download FED press release as pdf FED Policy Analysis and Exchange Rates Reaction According to the analysts at SEB, despite holding rates, the Fed's stance was undeniably hawkish, a factor that subtly influenced market trends. Following the announcement, the S&P 500 experienced a minor increase of 0.1%, while the Nasdaq experienced...