Foreign Exchange Daily Market Update 16/03/2015

Mon, March 16, 2015

BREAKING NEWS: KBR Foreign Exchange Plc. (KBRFX) identified in London Stock Exchange’s ‘1000 Companies to Inspire Britain’. 

KBRFX has made the London Stock Exchange's Second Edition of 1000 Companies to Inspire Britain. 1000 Companies to Inspire Britain is an annual celebration of some of the fastest-growing and most dynamic small and medium-sized enterprises (SMEs) in the UK

Full Press Release

Pound falls to lowest since 2010 against the Dollar.  

The Pound fell to its lowest level since 2010 against the dollar as concerns over the U.K.’s political future.

May’s General election on May 7 looks set to be the tightest since the 1970s. Polls show the Tories and Labour are both on course to fall short of a parliamentary majority. That means either one would need a coalition partner to govern, increasing the potential for policy surprises.

The Dollar strengthened on Friday amid speculation the Federal Reserve is moving closer to raising interest rates, and as the European Central Bank begins its bond-buying plan. The fall in Sterling’s concerns continues over the outcome in May’s U.K. election, which currently seems too close to call.

There’s also speculation that the Bank of England may be slower to raise borrowing costs than previously thought. The Pound had reached its strongest levels since 2007 against the Euro earlier in the week after Mark Carney said that one factor affecting the pace and degree of interest-rate increases was the evolution of the exchange rate.

The Pound dropped 0.9% to $1.4743 on Friday afternoon and touched $1.4710, the weakest since June 2010. Sterling was little changed at €1.4015 against the Euro, after touching €1.4257 on March 11, its strongest level since November 2007. The Euro fell 1.1% to $1.0523 against the Dollar.

Data to look out today.   

15:45 :  EUR ECB Announces QE purchases.

CURRENCY PAYMENTS MADE SIMPLE 

Data Releases