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

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