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Foreign Exchange Daily Market Update 21/08/18

Tue, August 21, 2018

Sterling may have weakened but some analysts are hopeful.

Sterling has fallen by more than 4% in the last three months, propelling analysts to slash predilections, as fears that Britain could fall out of the EU without an economic deal. Still, however some analysts are keeping faith, that the two sides will reach an agreement by year-end.

Sterling is on track for a 5th straight drop and touched a 14-month low of $1.2662 earlier this month, with a series of buoyant U.K. economic reports doing little to boost the currency. A strong dollar has been weighing the pound in recent months and the fear of a no-deal.

Some analysts believe that there will be a deal between the U.K. and the EU and that Theresa May will still be in Number 10 come the end of the year. On that basis, it is easy to see sterling recovering, perhaps through the $1.30s, if not $1.40

We could see sterling pound rise to $1.40 by the fourth quarter, and to $1.41 by the first quarter of 2019. The pound rose by much as 0.4% today, as the U.K. and the EU resumed Brexit talks in Brussels

Sterling rose to 1.283 after touching 1.2855 this morning against the dollar, GBP was unchanged against the Euro trading at 1.113.

 

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
TUE 08:30 GBP GBP Public Finances (PSNCR) (Pounds)
TUE 08:30 GBP GBP Central Government NCR
TUE 08:30 GBP GBP Public Sector Net Borrowing
TUE 08:30 GBP GBP PSNB ex Banking Groups
TUE 10:00 GBP GBP CBI Trends Total Orders
TUE 10:00 GBP GBP CBI Trends Selling Prices
TUE 15:30 USD USD U.S. to Sell 4-Week Bills

Foreign Exchange Rates

GBP / USD 1.28306
GBP / EUR 1.11331
EUR / USD 1.15185
GBP / AUD 1.74350
GBP / CAD 1.67027
GBP / CHF 1.26638
GBP / CZK 28.6326
GBP / DKK 8.30301
GBP / HKD 10.06865
GBP / INR 89.5893
GBP / JPY 141.410
GBP / MUR 43.42
GBP / NOK 10.81472
GBP / NZD 1.92460
GBP / PLN 4.79177
GBP / SEK 11.71038
GBP / SGD 1.72413
GBP / THB 41.9512
GBP / TRY 7.76440
GBP / ZAR 18.47913

*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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