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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.




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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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