Tue, July 26, 2016
The Pound fell the most among developed-market currencies this morning after a report that BOE policy maker Martin Weale has begun to favour immediate stimulus for the U.K. economy.
Sterling extended what already was the biggest decline against the Dollar among 31 major currencies over the past month after an independent member of the Monetary Policy Committee, changed his mind on the timing of stimulus after purchasing managers’ indexes released July 22 were a lot worse than he had thought.
Sterling touched the lowest since 1985 after Britain voted to exit the EU last month. The BOE sets policy on Aug. 4 after refraining from easing at the July meeting.
The Pound fell 0.4% to 1.3089 against the Dollar as of 8:24 a.m. It reached as low as 1.2798 on July 6, before rebounding to as high as 1.3481 by the middle of the month. Sterling also fell against the Euro to 1.1871
Data to look out for today.
15:00: USD Consumer Confidence
CURRENCY PAYMENTS MADE SIMPLE
PRESS RELEASE
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| Day | Time | Currency | Event |
|---|---|---|---|
| TUE | 08:30 | GBP | GBP BBA Loans for House Purchase | TUE | 09:40 | GBP | GBP BOE Indexed Long-Term Repo Operation Results | TUE | 13:00 | USD | USD S&P/Case-Shiller US HPI (MoM) s.a. | TUE | 13:00 | USD | USD S&P/CS 20 City (MoM) s.a. | TUE | 13:00 | USD | USD S&P/Case-Shiller US Home Price Index (YoY) | TUE | 13:00 | USD | USD S&P/Case-Shiller Composite-20 (YoY) | TUE | 13:00 | USD | USD S&P/Case-Shiller US Home Price Index | TUE | 13:00 | USD | USD S&P/Case-Shiller Home Price Index | TUE | 13:45 | USD | USD Markit US Services PMI | TUE | 13:45 | USD | USD Markit US Composite PMI | TUE | 14:00 | USD | USD Richmond Fed Manufacturing Index | TUE | 14:00 | USD | USD New Home Sales | TUE | 14:00 | USD | USD New Home Sales (MoM) | TUE | 14:00 | USD | USD Consumer Confidence | TUE | 15:30 | USD | USD U.S. to Sell 4-Week Bills | TUE | 17:00 | USD | USD U.S. to Sell 5-Year Notes |
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*These are indicative rates only, based on interbank prices at the time of writing. For exact rates please contact our dealing team
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