Foreign Exchange Daily Market Update 10/01/2018

Wed, January 10, 2018

Expectation of the pound’s growth could be sort lived.

Sterling may have already peaked.

The pounds gains against the dollar in 2017 may not progress as last year’s gains largely mirror weakness in the dollar. With U.K. inflation expected to slow and Brexit concerns coming to the forefront, the pound is unlikely to break much higher this year.

Recent data has created doubts about the UK economy.  Data out earlier this week showed U.K. consumers have curbed their spending for the first time in five years in 2017, while other data released showed that UK house prices fell for the first time in six months in December.

The pound had little change this year after gaining almost 10% against the dollar. some are predicting GBP could slip to $1.32 this quarter from its current level of about $1.35, before rebounding to $1.36 by year-end.

The Pound fell to $1.3485 against the dollar this morning. Sterling slipped to 1.1294 against the Euro.

Data to look out today.   

Not much data due out today.

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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