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Foreign Exchange Daily Market Update 06/02/2018

Tue, February 06, 2018

Pound strength may depend on BOE rate hike.

Sterling strength may need the Bank of England to raise interest rates in May.  

The pound saw first weekly decline against the dollar since mid-December, as worst then expected U.K. data and renewed examination on Theresa May’s future amid Brexit talks. The pound has been kept up from the expectations that the BOE could raise interest rates as soon as its May meeting.

The pound fell 0.4% to $1.3915 this morning against the dollar, having appreciated almost five percent this year. It weakened 0.3% to 1.125 against the Euro.


Data to look out today.   

Not much data due out today





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

Data Releases

Day Time Currency Event
TUE 07:00 EUR EUR German Factory Orders (MoM)
TUE 07:00 EUR EUR German Factory Orders n.s.a. (YoY)
TUE 08:30 EUR EUR Markit Germany Construction PMI
TUE 09:00 GBP GBP New Car Registrations (YoY)
TUE 09:10 EUR EUR Markit Italy Retail PMI
TUE 09:10 EUR EUR Markit France Retail PMI
TUE 09:10 EUR EUR Markit Germany Retail PMI
TUE 09:10 EUR EUR Markit Eurozone Retail PMI
TUE 13:30 USD USD Trade Balance
TUE 13:50 USD USD Fed's Bullard Speaks on U.S. Economy and Monetary Policy
TUE 15:00 USD USD JOLTS Job Openings
TUE 16:30 USD USD U.S. to Sell 4-Week Bills
TUE 18:00 USD USD U.S. to Sell USD26 Bln 3-Year Notes

Foreign Exchange Rates

GBP/ USD 1.39128
GBP/ EUR 1.12557
EUR/ USD 1.23542
GBP/ AUD 1.77168
GBP/ CAD 1.74544
GBP/ CHF 1.30265
GBP/ CZK 28.3741
GBP/ DKK 8.37459
GBP/ HKD 10.87466
GBP/ INR 89.4242
GBP/ JPY 151.717
GBP/ NOK 10.91843
GBP/ NZD 1.90886
GBP/ PLN 4.6884
GBP/ SEK 11.10312
GBP/ SGD 1.83772
GBP/ THB 43.8684
GBP/ TRY 5.2605
GBP/ ZAR 16.82673

*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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