Foreign Exchange Daily Market Update 12/01/2018

Fri, January 12, 2018

USD weakens as Sterling touches its highest level since September.

Sterling reached its highest level since September, after shrugging off any Brexit worries as it got a boost from a weaker dollar.

The pound rose after a weekly decline as the dollar dropped ahead of a U.S. inflation report that showed a weaker-than-expected producer prices on Thursday. Earlier this week sterling had continued pressure of signs of division over Brexit and disappointing U.K. economic data.

Sterling rose 0.6% to $1.3617 against the dollar. GBP weakened 0.2% to 1.121 against the Euro, as the Euro strengthened after a preliminary agreement in German coalition talks.

The focus is still likely to continue over developments on Brexit talks, as banks including Morgan Stanley were said to be trigger contingency plans and setting up headquarters in Frankfurt.

Data to look out today.   

13:30 USD Consumer Price Index (CPI.)

13:30 USD Retail Sales

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PRESS RELEASE

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