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Foreign Exchange Daily Market Update 12/02/2018

Mon, February 12, 2018

Sterling weakens as EU warns Brexit Transition Period is not guaranteed.

Sterling fell as the EU’s chief negotiator said that a Brexit transition period was not guaranteed if disagreements with the U.K. persisted.

GBP headed for a weekly loss as a downbeat tone following the latest round of Brexit talks, as major disagreements remained in the deal and that citizens’ rights was a “major issue” for the EU.

Some are suggesting that a soft Brexit is dead, leaving a hard or even a very hard option.

Sterling fell 0.6% to $1.3830 this morning. It fell 2.2% last week, heading for its biggest weekly loss since October. The pound weakened against the Euro to 1.127

 

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

Data Releases

Day Time Currency Event
Mon 09:30 GBP GBP BOE's Vlieghe Speaks at Resolution Foundation Event in London
Mon 16:30 USD USD U.S. to Sell USD48 Bln 3-Month Bills
Mon 16:30 USD USD U.S. to Sell USD42 Bln 6-Month Bills
Mon 16:30 GBP GBP BOE Policy Maker Ian McCafferty Speaks on LBC Radio
Mon 19:00 USD USD Monthly Budget Statement
Mon USD USD Revisions: Producer Price Index

Foreign Exchange Rates

GBP/ USD 1.38485
GBP/ EUR 1.12897
EUR/ USD 1.22593
GBP/ AUD 1.76777
GBP/ CAD 1.74286
GBP/ CHF 1.29888
GBP/ CZK 28.619
GBP/ DKK 8.40450
GBP/ HKD 10.87466
GBP/ INR 89.9460
GBP/ JPY 150.412
GBP/ NOK 11.011543
GBP/ NZD 1.90456
GBP/ PLN 4.71617
GBP/ SEK 11.1912
GBP/ SGD 1.83772
GBP/ THB 43.9511
GBP/ TRY 5.2605
GBP/ ZAR 16.55030

*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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