Foreign Exchange Daily Market Update 15/12/2016

Thu, December 15, 2016

Pound Falls After U.K. and US Rate Decisions

The Pound sunk to a 14 day low after the BOE voted 9-0 to keep monetary policy unchanged.

Sterling declined against most of its 16 major peers. The U.K. currency advanced 2.2% versus the dollar in November, posting its first monthly gain since April. However, the Pound has slumped 16% since Britain voted in June to leave the EU. In its last policy decision of 2016, the Monetary Policy Committee said sterling’s recent recovery could mean “less of an overshoot” above its 2% inflation goal than previously forecasted.

The US dollar has surged to a 14-year high against other currencies this morning, after the Federal Reserve raised American interest rates last night. They raised interest rates from 0.5% to 0.75%

The Pound fell 0.9% against the Dollar to 1.2447. The lowest since Nov. 30. Sterling was little changed against the Euro at 1.1934

Data to look out for today.

09:30: GBP Retail Sales

12:00: GBP BOE Rate Decision

12:00: GBP BOE Asset Purchase Target

13:30: USD Consumer Price Index

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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