Foreign Exchange Daily Market Update 15/03/2016

Tue, March 15, 2016

Pound Ends Two Weeks Of Gains

The Pound ended its two-weeks of gains against the Dollar as investors waited for clues from the BOE and the government on the economy’s outlook.

Sterling hit its highest level against the Dollar since mid-February on March 11, when it also set its biggest advance versus the Euro since January. Traders are looking towards U.K. Chancellor of the Exchequer George Osborne’s annual budget presentation tomorrow afternoon and Thursday’s BOE rate decision and meeting minutes.

Sterling fell 0.3% against the Dollar to 1.4336 as of 4:12 p.m. It climbed 3.7% over the last two weeks, reaching 1.4437 on Friday, its highest since Feb. 16. The Pound was little changed at 1.2895 against the Euro, having reached 1.3068 last week; it’s strongest since Feb. 4.

Data to look out for today.

12:30: USD Advance Retail Sales

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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