Foreign Exchange Daily Market Update 08/12/2016

Thu, December 08, 2016

Economists Predict Weaker Pound Come 2017

According to economists the Pound’s recovery may be getting ahead of itself. They see the pound plunging about 4% to 1.21 by half way through next year. The pound, which has been buffeted by Britain’s vote to exit the EU, is currently topping forecasters’ expectations for that period by close to the most in three months.

Sterling advanced 2.2% versus the Dollar last month, posting its first monthly gain since April. However, it has slumped 15% since the U.K. referendum in June, making the Pound the Group-of-10’s worst-performing currency this year.

The Pound rose 0.2% to 1.2652 against the Dollar this morning, having touched 1.2275 on Tuesday, the highest since Oct. 4. The Pound rose against the Euro to 1.1762.

Data to look out for today.

12:45: EUR ECB Rate Decision

12:45: EUR ECB Deposit Facility Rate

12:45: EUR ECB Marginal Lending Facility

12:45: EUR ECB Asset Purchase Target

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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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