Foreign Exchange Daily Market Update 15/06/2017

Thu, June 15, 2017

Pound Falls After FED Hike Rates

The Pound fell after earlier progress versus the Dollar yesterday after the FED raised interest rates by 0.25% to 1.25% and further stated their intentions of raising them again before the end of the year.

Sterling rose before the meeting after surprisingly poor inflation and retail sales data in the US. It reached a high of 1.2806, but this was later offset of the Fed's continued optimism despite the data.

After the FED raised interest rates the Pound fell to 1.2746, more or less to the level it was at before the meeting.

Today minutes will be released from the BOE rate meeting at 12pm.These are likely to show a 7-1 voting split with Kirsten being the only dissenter again.

The Pound fell this morning against the Dollar to 1.2705. Sterling was little changed against the Euro at 1.1361.

Data to look out for today.

09:30: GBP Retail Sales

12:00: GBP BOE Rate Decision

12:00: GBP Asset Purchase Target

13:30: USD Initial Jobless Claims

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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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