Wed, February 10, 2016
The Pound fell to more than a one-year low against the Euro but rose against the Dollar yesterday as a wave of global concern over banks and other financial firms extended into a second day.
Yesterday morning the U.K. had a good data release which gave the Pound some backing, however analysts said trade was dominated by a reassessing and reweighting of portfolios by many major fund investors in the worst start for stock markets since 2009.
The issue the EU referendum continues to sabotage any potential Sterling strength. It is believed that if the U.K. leaves the EU it would lead to a shortage of capital flows from overseas and cause Sterling to crash.
The Pound gained 0.5% against the Dollar to 1.4491. Sterling fell by 0.6% 1.2742 against the Euro.
Data to look out for today.
15:00: USD Fed’s Yellen To Appear Before House Financial Services Committee
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| Day | Time | Currency | Event |
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| WED | 09:30 | GBP | GBP Industrial Production (YoY) | WED | 09:30 | GBP | GBP Manufacturing Production (MoM) | WED | 09:30 | GBP | GBP Manufacturing Production (YoY) | WED | 09:30 | GBP | GBP Industrial Production (MoM) | WED | 12:00 | USD | USD MBA Mortgage Applications | WED | 15:00 | GBP | GBP NIESR Gross Domestic Product Estimate | WED | 15:00 | USD | USD Fed's Yellen to Appear Before House Financial Services Committee | WED | 15:30 | USD | USD DOE U.S. Gasoline Inventories | WED | 15:30 | USD | USD DOE U.S. Distillate Inventory | WED | 15:30 | USD | USD DOE U.S. Crude Oil Inventories | WED | 15:30 | USD | USD DOE Cushing OK Crude Inventory | WED | 18:00 | USD | USD U.S. to Sell 10-Year Notes | WED | 18:30 | USD | USD Fed's Williams Speaks on Health and the Economy in LA | WED | 19:00 | USD | USD Monthly Budget Statement |
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*These are indicative rates only, based on interbank prices at the time of writing. For exact rates please contact our dealing team
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