Foreign Exchange Daily Market Update 07/04/2016

Thu, April 07, 2016

KBR Foreign Exchange Plc. (KBRFX) identified in London Stock Exchange’s ‘1000 Companies to Inspire Britain’. 

KBRFX has made the London Stock Exchange's Second Edition of 1000 Companies to Inspire Britain. 1000 Companies to Inspire Britain is an annual celebration of some of the fastest-growing and most dynamic small and medium-sized enterprises (SMEs) in the UK

Full Press Release

Pound could fall as low as $1.35 before EU vote.  

The Pound may fall to about $1.35 in the run-up to Britain’s referendum on European Union membership.

Some predict that the sterling-dollar rate, could even slide to as low as $1.20 if the U.K. votes to leave the world’s largest single market on June 23. The Pound fell for a second day against the Dollar on Wednesday and slid to the weakest level against the Euro since June 2014.

Sterling touched $1.3503 in 2009 but hasn’t been as low as $1.35 since the 1980s. Concern leaving the EU would damage the U.K. economy has pushed gauges of anticipated sterling volatility to the highest since 2010 -- and above levels seen before last year’s general election and the 2014 vote on Scottish independence.

Sterling has room to decline from here heading into the June vote.  The pound could fall to $1.20 in the event of a ‘Brexit’ in June but that could be only the starting point for further weakness.

The Pound dropped 0.2% to $1.408 yesterday afternoon. Which mean it has fallen by 4% this year? It also weakened 0.4% to 1.2322 against the Euro, after sliding to 1.2305.

Data to look out today.   

13:30 USD Initial Jobless Claims & Continuing Claims

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