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Foreign Exchange Daily Market Update 18/12/2017

Mon, December 18, 2017

Sterling movement will be shaped by Brexit trade talks.

Sterling may be vulnerable as Theresa May will meet with lawmakers today and will meet with her cabinet ministers later this week to start mapping out what they want Britain’s future trade relationship with the EU will look like. Meanwhile, with May being under pressure from businesses to secure a transition period for when the UK will leave, the European Commission is planning to unveil its latest stance on the issue on Wednesday.

After May’s defeat at the hands of her own party trying to prevent an amendment to legislation that grants lawmakers a meaningful vote on the final Brexit deal, the prime minster faces another knife-edge session in Parliament this week on her plans to put a specific leaving date into law. There is a strong acknowledgment, that the next stage of the U.K.-EU negotiations will be even harder than the first.

The pound rose 0.2% to $1.3350 this morning, after a second week of losses. There was little change against the euro trading at 1.134.


Data to look out today.   

Not much data out today





KBRFX was mentioned in the Essex Chronicle for the top 100 companies by turnover in Essex

Data Releases

Day Time Currency Event
MON 10:00 EUR EUR Euro-Zone Consumer Price Index (MoM)
MON 10:00 EUR EUR Euro-Zone Consumer Price Index (YoY)
MON 10:00 EUR EUR Euro-Zone Consumer Price Index Core (YoY)
MON 11:00 GBP GBP CBI Trends Total Orders
MON 11:00 GBP GBP CBI Trends Selling Prices
MON 15:00 USD USD NAHB Housing Market Index
MON 16:30 USD USD U.S. to Sell USD45 Bln 3-Month Bills
MON 16:30 USD USD U.S. to Sell USD39 Bln 6-Month Bills

Foreign Exchange Rates

GBP/ USD 1.34020
GBP/ EUR 1.13511
EUR/ USD 1.18019
GBP/ AUD 1.74752
GBP/ CAD 1.72286
GBP/ CHF 1.32229
GBP/ CZK 29.1696
GBP/ DKK 8.44844
GBP/ HKD 10.47456
GBP/ INR 85.9847
GBP/ JPY 150.609
GBP/ NOK 11.15447
GBP/ NZD 1.91108
GBP/ PLN 4.77391
GBP/ SEK 11.28108
GBP/ SGD 1.80516
GBP/ THB 43.7317
GBP/ TRY 5.13753
GBP/ ZAR 17.13826

*These are indicative rates only, based on interbank prices at the time of writing. For exact rates please contact our dealing team

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