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Foreign Exchange Daily Market Update 17/09/18

Mon, September 17, 2018

Sterling encouraged by gains against the Euro.

Sterling has increased by about 2% after reaching its weakest level against the Euro in almost a year last month, as growing optimism that the two sides in the Brexit talks are committed to signing a deal by November. Analysts see sterling rising even more, as the U.K. and EU work toward finding a way to break the current deadlock.

This week could see more Brexit-driven volatility, as European affairs ministers meet to discuss Brexit tomorrow, following a meeting of the region’s leaders later in the week to try and move along the negotiations. Analysts are taking the recent headlines as indicative that the two sides are more open to a compromise.

As sterling strengthens against the Euro for a third week, we still could see sterling remain at its levels against the euro by year-end.

Data due this week could further strengthen sterling, retail-sales numbers due out on Thursday look especially promising.

Sterling weakened against the dollar to $1.3085 this morning after touching 1.3133 on Friday, the pound fell to 1.122 after climbing to 12.55 against the Euro.

  • Banks see sterling recovering further.
  • Recent news suggests Brexit deadlock can be broken.



Data to look out today.   

Not much data due out today.


Japan and Spain are closed today due to National holiday





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

Data Releases

Day Time Currency Event
MON 09:00 EUR EUR Euro-Zone Consumer Price Index Core (YoY)
MON 09:00 EUR EUR Euro-Zone Consumer Price Index (YoY)
MON 09:00 EUR EUR Euro-Zone Consumer Price Index (MoM)
MON 09:00 EUR EUR ECB's Coeure Speaks in Berlin
MON 10:15 EUR EUR ECB's Praet Speaks in Brussels
MON 12:30 USD USD Empire Manufacturing
MON 15:30 USD USD U.S. to Sell 3-Month Bills
MON 15:30 USD USD U.S. to Sell 6-Month Bills

Foreign Exchange Rates

GBP / USD 1.30891
GBP / EUR 1.12285
EUR / USD 1.16507
GBP / AUD 1.82365
GBP / CAD 1.70400
GBP / CHF 1.26225
GBP / CZK 28.67821
GBP / DKK 8.30730
GBP / HKD 10.27030
GBP / INR 94.7324
GBP / JPY 146.584
GBP / MUR 44.62
GBP / NOK 10.74862
GBP / NZD 1.99159
GBP / PLN 4.82613
GBP / SEK 11.68011
GBP / SGD 1.79787
GBP / THB 42.7179
GBP / TRY 8.1755
GBP / ZAR 19.61895

*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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