Foreign Exchange Daily Market Update 09/02/2016

Tue, February 09, 2016

Pound Falls To 13 Month Low

The Pound fell to a 13 month low versus the Euro yesterday after a sell off in global stock markets hit currencies recognised to be riskier with an unclear idea about Britain’s place in the EU also weighing on sentiment.

A weaker pound should actually help increase growth from about the slowest pace in three years and cut the U.K.’s current-account deficit which, at 3.7% of gross domestic product in the third quarter.

The Pound has been declining against the Dollar since the middle of 2015 and increased its slide this year, reaching an almost seven-year low of 1.4080 on Jan. 21.

The Pound fell to 1.2842 against the Euro, the lowest in 13months. Sterling was little changed against the Dollar at 1.4427.

Data to look out for today.

Not Much Data Out Today

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