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Foreign Exchange Daily Market Update 18/06/18

Mon, June 18, 2018

Political upheaval could be a key factor for the pound.

Sterling will begin this week on the back foot as it faces a political upheaval amid the Conservative Party’s ongoing internal battle over Brexit.

As we are still awaited a decision on whether the Parliament gets a say on the final deal to leave the EU, sterling will likely be sensitive to the outcomes of a vote in the House of Lords today and another in the Commons Wednesday. The focus will than return to monetary policy on Thursday, when the BOE announces its latest decision, which may offer clues on the likelihood of an August interest-rate increase.

Theresa May could be facing a leadership challenge as her party remains split over the so-called ‘meaningful vote,’ which would let Parliament vote on the final Brexit deal. The weekend was dominated by some hard-line pro-Brexit Conservative lawmakers having privately warned they could move to oust May if the parliamentary votes this week go against them.

The pound fell 0.3% to $1.3233 today, staying close to a 2018 low touched on May 29. Sterling remained unchanged against the euro at 1.14

 

Data to look out today.   

17:30 EUR ECB Draghi will speak at Sintra Conference.  

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 12:45 USD USD Departing NY Fed Chief Dudley Speaks at Bank Culture Conference
Mon 13:00 USD USD Dudley Duke and Gorman Speak on Culture in Finance Panel
Mon 14:00 USD USD NAHB Housing Market Index
Mon 15:30 USD USD U.S. to Sell USD48 Bln 3-Month Bills
Mon 15:30 USD USD U.S. to Sell USD42 Bln 6-Month Bills
Mon 17:00 USD USD Fed's Bostic Speaks on Economist and Monetary Policy Outlook
Mon 17:30 EUR EUR ECB's Draghi gives opening remarks at Sintra conference
Mon 20:00 USD USD Fed's Williams Speaks at NY Fed Bank Culture Conference

Foreign Exchange Rates

GBP / USD 1.32462
GBP / EUR 1.14008
EUR / USD 1.16136
GBP / AUD 1.77838
GBP / CAD 1.74449
GBP / CHF 1.31766
GBP / CZK 29.334
GBP / DKK 8.49312
GBP / HKD 10.39720
GBP / INR 90.1109
GBP / JPY 146.305
GBP / MUR 45.90
GBP / NOK 10.79147
GBP / NZD 1.90543
GBP / PLN 4.88891
GBP / SEK 11.67592
GBP / SGD 1.78906
GBP / THB 43.2756
GBP / TRY 6.25052
GBP / ZAR 17.83554

*These are indicative rates only, based on interbank prices at the time of writing. For exact rates please contact our dealing team

June 2018
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27 28 29 30 311 2
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10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
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