Foreign Exchange Daily Market Update 04/03/2016

Fri, March 04, 2016

Pound’s Best Few Days In 2016

The Pound gained for a fourth day against the Dollar, the longest winning run since November, after a disappointing few weeks following last week’s Brexit talks.

Speculation is building that the losses sparked by the prospect of Britain quitting the EU in a June 23 referendum were overdone. That overshadowed signs the U.K. economy is losing momentum. Sterling extended its gain after a U.S. report showed growth in services slowed in February.

Concern that the U.K. will leave the EU sent the U.K. currency falling 3.7% against the Dollar and 2% against the Euro last week. Those declines are now easing.

The Pound rose 0.5% against the Dollar to 1.4153 as of 4:05 p.m. It was little changed at 1.2947 against the Euro, after a five-day advance that was its longest streak in seven months.

Data to look out for today.

13:30: USD Unemployment Rate

13:30: USD Non-Farm Payrolls

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