Foreign Exchange Daily Market Update 13/02/2018

Tue, February 13, 2018

Pound may bounce back.

With Brexit talk back on the agenda for sterling, but that doesn’t mean sterling will tumble, according to some analysis.

As the British government are set to outline its Brexit vision this week ahead of next month’s EU leaders’ summit, we may see the currency bounce back, the repricing of Bank of England rate increase show signs that economic data rather politics will be a key factor.

In the short-term risks around, key Brexit events have tended to be shaky, with the pound sharply rebounding. In the current environment, we would expect the same risk-reward dynamics with a positive outcome, in this case as a visible increase as an agreed Brexit transition deal, leading to a sharp bounce in GBP/USD to above $1.40.”

The pound was trading $1.387 this morning against the dollar, as some are predicting it could rise to $1.43 in a month. Sterling fell to 1.125 against the Euro. 

Data to look out today.   

Not much data due out today.

CURRENCY PAYMENTS MADE SIMPLE

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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

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