Foreign Exchange Daily Market Update 01/06/2017

Thu, June 01, 2017

Pound Falls As Conservative’s Lead Shrinks

The Pound declined against the Dollar and the Euro yesterday after a new poll suggested that Britain could be on track for a hung parliament in next week’s election.

Sterling was recently floating around 1.28 versus the US currency, near a one-month low. Data showed that the Pound was the worst performing against all of its major peers yesterday. 

The most recent seat-by-seat prediction shows that the Conservatives are on course to win 310 seats at the election which short of an absolute majority of 326 seats needed to form a Government. 

The U.K. currency already decreased around 2% last week as polls showed the Conservatives’ lead over the Labour Party had shrunk from as much as 20 points in April.

The Pound was little changed against both the Euro and the Dollar at 1.2859 and 1.1448.

Data to look out for today.

13:30: USD Initial Jobless Claims

13:30: USD Continuing Claims

15:00: USD ISM manufacturing

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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