Foreign Exchange Daily Market Update 19/09/2016

Mon, September 19, 2016

Pound Falls The Most In 12 Weeks

The Pound declined the most in 12 weeks last week July among belief that potentially painful Brexit negotiations will prompt the BOE to ease monetary policy further.

The BOE’s Monetary Policy Committee members voted unanimously to keep its key interest rate and asset-purchase target unchanged on Thursday, they signalled further easing cannot be ruled out.

Data Thursday showed a gauge of U.K. retail sales fell less in August than economists forecast; suggesting consumer confidence remained resilient in the wake of the Brexit vote.

Sterling touched a 31-year low of 1.2798 on July 6 and is still down 11% against the Dollar since the June 23 referendum. The median analyst forecast is for the pound to fall to 1.28 by year-end.

The Pound fell 1.2% to 1.3080 against the Dollar as of 4:22 p.m. Friday, down 1.4% in the week. That’s the biggest decline since July 8. It weakened 0.5% to 1.1719 against the Euro, set for a 0.8% fall from Sept. 9.

Data to look out for today.

Not Much Data Out Today

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