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Foreign Exchange Daily Market Update 20/09/18

Thu, September 20, 2018

Pound strengthens to a two-month high, Even as Brexit Deal ‘Far Away.

Sterling continued its gains to a two-month high, as U.K. retail-sales data and broad dollar weakness, even amid signs a Brexit compromise remains far away.

The pound increased to earlier gains this week as data showed U.K. retail sales unexpectedly rose in August compared to July. Sterling rallied today even though leaders from both sides in the Brexit talks appeared to have struck a harder tone when they met face to face at a summit in Salzburg, the European Commission President said that the U.K. is still “far away” from reaching a deal.

All the talk leading up to the summit had been pound-positive, with reports that the EU will give the U.K. a favourable deal and drop some demands regarding the Irish border, However, we remain on the lookout for a “sudden” shift in tone from the EU and a not-so-favourable outcome for the Britain.

As retail sales gave sterling an added boost, it is a volatile time and other factors remain to sustainably drive the pound.

Sterling increased by 0.6% to $1.3217, the highest since July 17, also strengthening 0.3% against the Euro to 1.1282.


Data to look out today.   


14:15 EUR EU informal meeting of heads of states summit press conference.


  • Sterling extends gain on unexpected increase in retail sales





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

Data Releases

Day Time Currency Event
THURS 08:30 GBP GBP Retail Sales Ex Auto Fuel (MoM)
THURS 08:30 GBP GBP Retail Sales Ex Auto Fuel (YoY)
THURS 08:30 GBP GBP Retail Sales Inc Auto Fuel (MoM)
THURS 08:30 GBP GBP Retail Sales Inc Auto Fuel (YoY)
THURS 12:30 USD USD Philadelphia Fed Business Outlook
THURS 12:30 USD USD Initial Jobless Claims
THURS 12:30 USD USD Continuing Claims
THURS 13:15 EUR EUR EU Informal Meeting of Heads of State Summit Press Conference
THURS 14:00 USD USD Leading Index
THURS 14:00 EUR EUR Euro-Zone Consumer Confidence
THURS 14:00 USD USD Existing Home Sales
THURS 14:00 USD USD Existing Home Sales (MoM)
THURS 14:30 USD USD EIA Working Natural Gas Implied Flow
THURS 14:30 USD USD EIA Natural Gas Storage Change
THURS 16:00 USD USD Household Change in Net Worth
THURS 17:00 USD USD U.S. to Sell 10-Year TIPS Reopening

Foreign Exchange Rates

GBP / USD 1.32209
GBP / EUR 1.12842
EUR / USD 1.17091
GBP / AUD 1.81775
GBP / CAD 1.70519
GBP / CHF 1.27700
GBP / CZK 28.8246
GBP / DKK 8.41882
GBP / HKD 10.37175
GBP / INR 95.0049
GBP / JPY 148.367
GBP / MUR 44.92
GBP / NOK 10.74862
GBP / NZD 1.98339
GBP / PLN 4.84393
GBP / SEK 11.67870
GBP / SGD 1.80887
GBP / THB 42.7979
GBP / TRY 8.30958
GBP / ZAR 19.15525

*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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