Foreign Exchange Daily Market Update 13/04/2016

Wed, April 13, 2016

Pound Rises After Inflation Data

U.K. inflation rose to a 15-month high last month due to an early Easter resulting to a rise in air fares and clothing prices.

Consumer prices increased 0.4% in March from February. In the first quarter, they rose 0.35% from a year earlier, below the 0.44% the BOE forecasted in February. Services-cost inflation increased to 2.8% in March on an annual basis, while goods prices fell 1.6% on the year.

House-price growth slowed to an annual 7.6% in February from 7.9% in January. In London, the pace eased to 9.7% from 10.8% as prices dropped almost 3% from a record in January.

The Pound rose after the data and was trading at 1.4313 against the Dollar as of 10:56 a.m. yesterday up 0.5% from Monday but has now dropped down to 1.4208. Sterling rose against the Euro to 1.2542.

Data to look out for today.

13:30: 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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