Foreign Exchange Daily Market Update 22/09/2016

Thu, September 22, 2016

Pound Rises As FED Prolong Rate Hike

The Pound progressed for a second consecutive day as the Federal Reserve maintained interest rates and scaled back the outlook for increases past this year.

Sterling soared from Wednesday’s five-week low against the Dollar. Even though the Federal Open Market Committee made clear there was still a case to raise rates this year, it put off the move on Wednesday and pared the number of hikes it foresees next year to two from three. Sterling is still the worst-performing Group-of-10 currency this month, weighed down by a lack of clarity around talks on the U.K. leaving the EU.

The Pound rose 0.2% to 1.3054 against the Dollar as of 8:53 a.m., after falling to 1.2946 Wednesday, the lowest since Aug. 16. Sterling was little changed at 1.1629 against the Euro.

Data to look out for today.

14:00: ECB President Draghi Speaks

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