Foreign Exchange Business Foreign Exchange Personal Foreign Exchange Partners

Foreign Exchange Daily Market Update 22/01/2018

Mon, January 22, 2018

Pound Needs Positive Catalyst to Reach Fresh Post-Brexit Highs.

Sterling reached a post-Brexit high against the dollar last week, but it may need better than expected data to help it maintain its rally.

The pound touched its highest level against the dollar since June 24, 2016 on Friday, helped by a weaker dollar.  As many expect even more gains on the pound. some analysts are being cautions as sterling strength doesn’t appear to be backed up by fundamentals.

U.K. wage inflation and fourth-quarter GDP data due this week could push BOE monetary policy expectations and help to secure sterling at its present levels. Many see the pound heading toward $1.50 by the end of the year but are surprised at the speed of its rise and may need another catalyst to push past $1.40.

Average weekly earnings are expected to remain steady for December from November, while GDP is expected to fall slightly for the fourth quarter. Should either of these data come much better, that could trigger further sterling strength.

In the short term the direction of the pound may also be driven by Brexit developments as a report Friday that the Labour party may seek to change the Brexit legislation in the House of Lords.

Sterling rose to 1.389 against the dollar this morning, the Pound increased to 1.133 against the Euro.

 

Data to look out today.   

Not much data due out today.

 

India will be shut today due to nation holiday.  

 

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
Mon 13:30 USD Chicago Fed Nat Activity Index
Mon 16:30 USD U.S. to Sell USD48 Bln 3-Month Bills
Mon 16:30 USD U.S. to Sell USD42 Bln 6-Month Bills

Foreign Exchange Rates

GBP/ USD 1.38924
GBP/ EUR 1.13374
EUR/ USD 1.22488
GBP/ AUD 1.73472
GBP/ CAD 1.73262
GBP/ CHF 1.33365
GBP/ CZK 28.7991
GBP/ DKK 8.44211
GBP/ HKD 10.8625
GBP/ INR 88.5383
GBP/ JPY 153.801
GBP/ NOK 10.9085
GBP/ NZD 1.90389
GBP/ PLN 4.72511
GBP/ SEK 11.1619
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

January 2018
S M T W T F S
31 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3
RSS Feed

Please subscribe to our FREE foreign exchange market update feed.

Cookies On The KBRFX Website

We use cookies on our website. They help us to know a little bit about you & how you use our website. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on our website. However, if you would like to, you can change your cookie settings at any time.

Continue Find out more