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Foreign Exchange Daily Market Update 29/08/18

Wed, August 29, 2018

Pound Slips as May Comments Fuel Concerns About No-Deal Brexit.

The Pound fell against the euro for a fifth day in a row after Theresa May refreshed the fears of a no-deal.

GBP was set for its fourth monthly loss against the Euro as many analyses grow increasingly concerned by the prospect of Britain leaving the EU without a pact on their future relationship. With seven months to go until the Britain’s departure, May said that the UK can still make a success of Brexit without an agreement while France is set to draw up an emergency plan for such an outcome.

Both sides confirmed last week that they would hold continuous negotiations from then on to secure a deal, as a U.K. government spokesman said that the country was working toward an October deadline.

Sterling could fall as low as $1.20 if no agreement is, a 7% drop from the current level.

Sterling fell as low as 0.2% against the Euro. It was little changed at $1.2894 against the dollar.

  • May said Britain’s EU exit can be successful without any pact.
  • Analysts saw a 20% chance of no agreement in a July survey


Data to look out today.   

13:30 USD GDP.





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

Data Releases

Day Time Currency Event
WED 06:00 EUR EUR German GfK Consumer Confidence
WED 06:45 EUR EUR French Gross Domestic Product (QoQ)
WED 06:45 EUR EUR French Gross Domestic Product (YoY)
WED 11:00 USD USD MBA Mortgage Applications
WED 12:30 USD USD Gross Domestic Product Annualized (QoQ)
WED 12:30 USD USD Gross Domestic Product Price Index
WED 12:30 USD USD Personal Consumption
WED 12:30 USD USD Core Personal Consumption Expenditure (QoQ)
WED 14:00 USD USD Pending Home Sales (MoM)
WED 14:00 USD USD Pending Home Sales (YoY)
WED 14:30 USD USD DOE U.S. Crude Oil Inventories
WED 14:30 USD USD DOE Cushing OK Crude Inventory
WED 14:30 USD USD DOE U.S. Gasoline Inventories
WED 14:30 USD USD DOE U.S. Distillate Inventory
WED 15:30 USD USD U.S. to Sell 2-Year Floating Rate Notes
WED 17:00 USD USD U.S. to Sell 7-Year Notes

Foreign Exchange Rates

GBP / USD 1.28
GBP / EUR 1.10726
EUR / USD 1.16855
GBP / AUD 1.77545
GBP / CAD 1.67562
GBP / CHF 1.25827
GBP / CZK 28.5071
GBP / DKK 8.25622
GBP / HKD 10.16781
GBP / INR 91.3182
GBP / JPY 144.426
GBP / MUR 43.99
GBP / NOK 10.81662
GBP / NZD 1.93266
GBP / PLN 4.74399
GBP / SEK 11.86802
GBP / SGD 1.77012
GBP / THB 42.3786
GBP / TRY 8.31959
GBP / ZAR 18.67504

*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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