Foreign Exchange Daily Market Update 13/02/2017

Mon, February 13, 2017

Exporters Profit From Weak Pound

The Pound's sharp drop since the U.K decided to leave the EU may do more to help the earnings of British exporters than the economy as a whole.

The evidence to date is that companies selling products overseas are more eager on taking the exchange-rate windfall to improve profit margins than they are on increasing their share of foreign markets.

Data on Friday showed export prices in sterling terms have risen more than 12% over the past year, suggesting many companies are simply keeping their foreign-currency prices instead of seeking to sharpen their competitive edge by allowing them to decline.

The BOE revised up its forecasts this month as it maintained interest rates at a record low. Both the BOE and the commission forecast that expansion will slow this year as consumer spending weakens and inflation speeds up. The commission sees U.K. consumer price growth increasing to 2.5% this year from 0.7% in 2016.

The Pound was little changed against the Dollar and the Euro at 1.2517 & 1.1761.

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