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Foreign Exchange Daily Market Update 12/03/2018

Mon, March 12, 2018

Brexit talk cool as the focus turns to Fiscal Policy.

Sterling hardly moved last week on Brexit speeches by the chancellor Philip Hammond and EU President Donald Tusk. Hammond will be in the spotlight this week for a different reason, the focus switches to the U.K. fiscal policy. He will update the nation on his plans in the Spring Statement.

Brexit is not hitting the headlines as much as there is a growing sense that Brexit won’t be solved anytime soon.  So the focus has switched to other short-term factors that are actually transpiring -- rather than trading of gossip or speculation that may or may not transpire

With little U.K. economic data this week, more global factors will be pushing the pound.

Sterling may just get a short rest from political news, As the Conservative Party begins a two-day forum in London on Friday, with senior Cabinet ministers due to speak. As the U.K. and EU continue to fight over the terms of a Brexit deal, the pound has stabilized at around $1.38.

The Pound remained unchanged 1.384 against the dollar this morning. Sterling is also unchanged against the Euro trading at 1.124 this morning.


Data to look out today.   

Not much data due out today.


  • Focus turns to U.K. Chancellor’s Spring Statement on Tuesday


Australia will be closed due to national bank holiday  





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

Data Releases

Day Time Currency Event
Mon 15:30 USD USD U.S. to Sell USD45 Bln 6-Month Bills
Mon 15:30 USD USD U.S. to Sell USD28 Bln 3-Year Notes
Mon 17:00 USD USD U.S. to Sell USD51 Bln 3-Month Bills
Mon 17:00 USD USD U.S. to Sell USD21 Bln 10-Year Notes Reopening
Mon 18:00 USD USD Monthly Budget Statement
Mon 00:01 EUR EUR Germany Second Quarter Manpower Employment Outlook

Foreign Exchange Rates

GBP / USD 1.38503
GBP / EUR 1.12491
EUR / USD 1.23069
GBP / AUD 1.76177
GBP/ CAD 1.77621
GBP / CHF 1.31514
GBP / CZK 28.6334
GBP/ DKK 8.37910
GBP/ HKD 10.85412
GBP/ INR 89.9744
GBP/ JPY 147.547
GBP / MUR 45.62
GBP/ NOK 10.77812
GBP/ NZD 1.89418
GBP/ PLN 4.71905
GBP/ SEK 11.42991
GBP/ SGD 1.82018
GBP/ THB 43.3674
GBP/ TRY 5.28838
GBP/ ZAR 16.38792

*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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