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Foreign Exchange Daily Market Update 19/01/2018

Fri, January 19, 2018

Sterling strength against the dollar may not be enough.

Sterling hit its highest level against the dollar post Brexit earlier this week, but many are still holding caution.

On the face of it sterling has recovered, the is reality is more about the dollar. In sync with sterling’s strength, the dollar has fallen about 2% since the start of January. What the euro does is far more important

There has been mixed U.K data recently there has been positive news on the Brexit talks but we have yet to see any actual progress. This means that if the dollar recovers, we may well see sterling’s gains eroded.

The pound touched a post-Brexit high of $1.3942 on Wednesday. The level of $1.3850 is key for this week and finishing below that could embolden investors to go short, said Juckes

The Pound fell slightly to $1.392 this morning after touching a post Brexit high of $1.3942 on Wednesday against the dollar. Sterling rose to 1.133 against the Euro.

 

Data to look out today.   

09:30 GBP Retail sales.

 

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

Data Releases

Day Time Currency Event
FRI 07:00 EUR EUR German Producer Price Index (MoM)
FRI 07:00 EUR EUR German Producer Price Index (YoY)
FRI 09:00 EUR EUR Euro-Zone Current Account s.a. (euros)
FRI 09:00 EUR EUR Euro-Zone Current Account n.s.a. (euros)
FRI 09:30 GBP GBP Retail Sales Ex Auto Fuel (MoM)
FRI 09:30 GBP GBP Retail Sales Ex Auto Fuel (YoY)
FRI 09:30 GBP GBP Retail Sales Inc Auto Fuel (MoM)
FRI 09:30 GBP GBP Retail Sales Inc Auto Fuel (YoY)
FRI 15:00 USD USD U. of Mich. Sentiment
FRI 15:00 USD USD U. of Mich. Expectations
FRI 15:00 USD USD U. of Mich. 1 Yr Inflation
FRI 15:00 USD USD U. of Mich. 5-10 Yr Inflation
FRI 15:00 USD USD U. of Mich. Current Conditions
FRI 18:00 USD USD Baker Hughes U.S. Rig Count
FRI 18:00 USD USD Fed's Quarles Speaks on Bank Regulation

Foreign Exchange Rates

GBP/ USD 1.39285
GBP/ EUR 1.13435
EUR/ USD 1.22274
GBP/ AUD 1.73384
GBP/ CAD 1.72572
GBP/ CHF 1.32845
GBP/ CZK 28.7999
GBP/ DKK 8.43311
GBP/ HKD 10.87201
GBP/ INR 88.6303
GBP/ JPY 153.832
GBP/ NOK 10.8985
GBP/ NZD 1.90389
GBP/ PLN 4.72511
GBP/ SEK 11.13279
GBP/ SGD 1.83448
GBP/ THB 44.2970
GBP/ TRY 5.26358
GBP/ ZAR 16.92845

*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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