Foreign Exchange Daily Market Update 16/07/2015

Thu, July 16, 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 rises to Seven-Year High against the Euro

The Pound rose to its strongest level in more than seven years against the Euro, suggesting further divergence in monetary policy as the U.K.’s economy gathers momentum.

Bank of England policy makers, including Governor Mark Carney, signalled that Britain’s first interest-rate hike since the financial crisis will probably come sooner than expected.

The time for the benchmark interest rate to rise from its record low is “moving closer,” Carney told lawmakers on Tuesday. Monetary Policy

U.K. unemployment unexpectedly rose since May.  UK Unemployment rate increased to 5.6%, from 5.5% previously.  U.K. wage growth fell short of what had been estimated, even as it has accelerated at a faster pace in more than five years.

The pound strengthened 0.2% to 1.4320 against the Euro this morning, after touching 1.4349, the strongest level since November 2007. Sterling slipped 0.2% to 1.5614 against the Dollar, after gaining 1% in the previous two days.

Data to look out for today.  .

12:45  EUR ECB Bank Rate Decisions.

15:00 USD Yellen testimony to the Banking panel

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

Data Releases