Foreign Exchange Daily Market Update 06/12/2017

Wed, December 06, 2017

Pound falls over Brexit-talks conundrum. 

Sterling was heading for its biggest drop in three weeks against the dollar after Ireland said it may not agree to alter a proposed border deal with the U.K. that reportedly stalled Brexit talks on Monday.  

Sterling weakened after Britain and the European Union said on Monday afternoon that they had not made satisfactory progress to proceed negotiations to the next stage

After Monday’s meeting failed to reach an agreement, the next big deadline for pound is Dec. 14-15 for the EU summit, with the EU set to give its verdict on whether Britain can progress to discussing the future relationship at the summit.

Sterling fell 0.4% to $1.3427 against the dollar, after touching $1.3371 earlier. It weakened 0.4% to 1.1315 against the Euro.

Data to look out today.   

Not much data due today.

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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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