Foreign Exchange Daily Market Update 20/12/2016

Tue, December 20, 2016

Resilient Pound Could See Benefits

U.K. PM Theresa May gave her biggest clue yet that she’s considering a Brexit deal involving a conversion phase to ease the impact on business as well as ongoing payments to the EU budget.

Although the Pound declined to its lowest level against the Dollar in more than three decades after the Brexit vote, recent economic data have demonstrated resilience. The U.K. currency could also benefit from political anxiety across Europe. France’s National Front leader Marine le Pen, who wants to take the nation out of the euro, will probably enter the two-person run-off vote for the presidency in May.

German producer prices recorded their first annual rise in more than three years last month. As with the euro area, Germany is seeing a slow pickup in inflation, thanks in part to base effects related to energy prices. Consumer-price growth in Germany is predicted to increase to 1.5% next year from 0.4%, while euro-zone inflation is seen at 1.3%, up from 0.2%.

The Pound fell 0.1% against the Dollar to 1.2367. Sterling rose 0.3% against the Euro to 1.1916.

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