Foreign Exchange Daily Market Update 14/11/2016

Mon, November 14, 2016

Pound Rises As Trump Takes Control

Pound bulls who found consolidation this week in political events outside the U.K. will look for signs of higher consumer prices to underpin the currency’s rally.

The Pound rose against all of its 31 major peers this week as investors reviewed the direction for inflation and the increase of populist movements in Europe after Donald Trump’s triumph in the U.S. election. Sterling’s rejuvenation clawed back part of last month’s almost 6% fall against the Dollar.

As concern about the impact of the U.K.’s choice in June to exit the EU is pushed to the background, strategists say Sterling may lengthen its recovery if data due next week were to offer more evidence of the economy’s resilience after the referendum as well as signs of accelerating inflation.

Sterling rose 0.7% last week to 1.2606 against the Dollar as of 5:07 p.m. Friday, having jumped 2.7% the previous week. It strengthened 3.5% to 1.1627 against the Euro, the biggest gain since July 2015.

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

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