Tue, October 02, 2018
Sterling erased its rally against the dollar as markets looked for more clarity on Theresa May’s planned Brexit offer aimed at resolving the contentious Irish border issue.
Sterling loss as much as 0.7% as strategists said May had already hinted last month at a compromise and that she would put forward a plan on how to avoid a hard border with Ireland after Britain leaves the EU. Britain would back down on opposition to some new goods checks and in exchange would expect the EU to allow the whole of Britain including Northern Ireland to stay in the Euro zone’s customs regime.
We must wait and see what the ‘new’ proposal is and how different it is from the offer already on the table. That’s is of course if the EU would accept the new offer and/or whether the hard-Brexiteers take additional steps to destabilize May even further.
Sterling weakened to 1.2959 against the dollar this morning, down from as high as $1.3116 yesterday. The pound rose to 1.1276 before falling to 1.1259 against the euro this morning.
Data to look out today.
17:00 USD FED chair Speaks in Boston.
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
| Day | Time | Currency | Event |
|---|---|---|---|
| TUE | 06:00 | GBP | GBP Nationwide House Px (MoM) | TUE | 06:00 | GBP | GBP Nationwide House Px NSA (YoY) | TUE | 08:30 | GBP | GBP Markit/CIPS UK Construction PMI | TUE | 08:45 | GBP | GBP BOE Chief Economist Haldane Chairs Panel in London | TUE | 09:00 | EUR | EUR Euro-Zone Producer Price Index (MoM) | TUE | 09:00 | EUR | EUR Euro-Zone Producer Price Index (YoY) | TUE | 10:35 | GBP | GBP BOE's Haskel Chairs Panel in London | TUE | 14:00 | USD | USD Fed's Quarles Testifies to Senate Banking Committee | TUE | 15:30 | USD | USD U.S. to Sell 4-Week Bills | TUE | 16:00 | USD | USD Fed's Chairman Powell Speaks at NABE Conference in Boston | TUE | 23:01 | GBP | GBP BRC Shop Price Index (YoY) |
| {currency-pair} | {exchange-rate} |
|---|
*These are indicative rates only, based on interbank prices at the time of writing. For exact rates please contact our dealing team
| S | M | T | W | T | F | S |
| 30 | 1 | 2 | 3 | 4 | 5 | 6 |
| 7 | 8 | 9 | 10 | 11 | 12 | 13 |
| 14 | 15 | 16 | 17 | 18 | 19 | 20 |
| 21 | 22 | 23 | 24 | 25 | 26 | 27 |
| 28 | 29 | 30 | 31 | 1 | 2 | 3 |
Please subscribe to our FREE foreign exchange market update feed.
