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Foreign Exchange Daily Market Update 20/08/18

Mon, August 20, 2018

Rate of inflation accelerates.

The rate of inflation in the U.K. increased for the first time in eight months in July, boosted by the cost of fuel, travel tickets, computer games and food.

Consumer-price growth for the year increased to 2.5% from 2.4% in June.

The BOE predicted that inflation would rise to 2.6% in July before falling back down as the effect of sterling’s post-Brexit decline fades.

BOE raised interest rates this month to harness price pressure in the labour market and suggested further hikes will be needed to return inflation to target, providing Britain avoids a chaotic Brexit.

An upward rise on inflation was offset by some financial services and clothing and footwear prices, which fell 3.7% on the month as struggling retailers extended summer discounts.

Core inflation, which excludes food, energy, tobacco and alcoholic drinks, stayed at 1.9%.

The Pound was trading at 1.275 this morning. Sterling traded at 1.117 against the Euro.

 

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 06:00 EUR EUR German Producer Price Index (YoY)
MON 06:00 EUR EUR German Producer Price Index (MoM)
MON 09:00 EUR EUR Euro-Zone Construction Output s.a. (MoM)
MON 09:00 EUR EUR Euro-Zone Construction Output w.d.a. (YoY)
MON 10:00 EUR EUR Bundesbank Publishes Monthly Report
MON 15:00 USD USD Fed's Bostic Speaks on U.S. Economic Outlook in Tennessee
MON 15:30 USD USD U.S. to Sell 3-Month Bills
MON 15:30 USD USD U.S. to Sell 6-Month Bills
MON 18:00 EUR EUR Bundesbank President Jens Weidmann Speaks in Frankfurt

Foreign Exchange Rates

GBP / USD 1.27592
GBP / EUR 1.11734
EUR / USD 1.14124
GBP / AUD 1.75044
GBP / CAD 1.66926
GBP / CHF 1.26633
GBP / CZK 28.7146
GBP / DKK 8.33396
GBP / HKD 10.12683
GBP / INR 88.5078
GBP / JPY 143.135
GBP / MUR 43.98
GBP / NOK 10.0167
GBP / NZD 1.92788
GBP / PLN 4.80177
GBP / SEK 11.52738
GBP / SGD 1.72413
GBP / THB 42.1612
GBP / TRY 7.82440
GBP / ZAR 18.58503

*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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