Foreign Exchange Daily Market Update 07/07/2015

Tue, July 07, 2015

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 strengthened to week-high against Euro after Greek referendum 

The Pound rose to the strongest level in a week against the Euro after Greece’s rejection of austerity.

There is still optimism that Greece will still secure a bailout, with European leaders planned to meet today for an emergency summit.

The Pound has continued to strengthen in the last three months, and is benefiting from the prospect that data from housing to industrial production this week will confirm that the U.K. economy is picking up. On the other hand, Chancellor of the Exchequer George Osborne is due to present a special budget tomorrow, where he may increase the speed of spending cuts and fuel speculation the Bank of England will keep interest rates lower for longer.

The turmoil in Greece may also add pressure on the BOE moves toward higher rates. Despite signs of an economic recovery taking hold in the U.K., the central bank may be reluctant to tighten monetary policy while its largest trading partner, the European Union, grapples with Greece.

The Pound increased 0.6% to 1.410 against the Euro yesterday afternoon, after touching 1.4172, the strongest level since June 29. The Pound gained 0.1% to 1.5591 against the Dollar.

Data to look out for today.  .

12:00  EUR - Euro-Group Summit on Greek Referendum 

CURRENCY PAYMENTS MADE SIMPLE  

PRESS RELEASE

KBRFX was mentioned in the Essex Chronicle for the top 100 companies by turnover in Essex http://www.essexchronicle.co.uk/100-Essex-businesses-revealed-annual-survey/story-25140555-detail/story.html 

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