Foreign Exchange Daily Market Update 01/04/2016

Fri, April 01, 2016

Pound Continues To Decline Against Euro

The Pound declined for a second consecutive day against the Euro as data showed the UK’s current-account deficit expanded in the fourth quarter more than economists had predicted to the most on record as a percentage of gross domestic product.

Sterling fell against all but 1 of its major peers. It erased a decline against the Dollar as a separate report showed the U.K. economy grew more than previously estimated at the end of 2015. On a trade-weighted basis, the U.K. currency posted its worst quarter since 2009 amongst concern that if Britain votes to leave the EU this summer it would hurt economic growth. It could also make it harder for the nation to fund its current-account deficit with overseas investment.

The Pound fell 0.4% to 1.2634 against the Euro as of 4:15 p.m. Sterling was little changed at 1.4390 against the Dollar. The U.K. currency has dropped 5.9% this year, the biggest quarterly decline since September 2009.

Data to look out for today.

13:30: USD Unemployment Rate

13:30: USD Change In Non-Farm Payrolls

15:00: USD ISM Manufacturing

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