Foreign Exchange Daily Market Update 13/03/2017

Mon, March 13, 2017

Pound Approaches Worst Run In 7 Months Vs Euro 

Sterling headed for its longest losing streak against the Euro in 7 months amongst evidence that the U.K.’s decision to part from the EU is beginning to hit economic data just as European policy makers strike a more positive note on the region’s own prospects.

The Pound declined for a sixth day against the Euro, and headed for a second week of declines against the Dollar. Data towards the back end of last week showed manufacturing, industrial and construction output all fell in January from the previous month, adding to evidence that the trend of robust data following the Brexit vote may be coming to an end.

On Friday, the US added 235,000 jobs in comparison with the forecast of 200,000 jobs. Unemployment rate fell to 4.7% which matched analysts forecasts.

Sterling rose slightly over the weekend against the Dollar to 1.2205. Sterling fell against the Euro to 1.1427, it reached a low 1.1379 yesterday.

Data to look out for today.

13:30: EUR Draghi Speaks In Frankfurt

CURRENCY PAYMENTS MADE SIMPLE

PRESS RELEASE

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