Foreign Exchange Daily Market Update 25/10/18

Thu, October 25, 2018

Pound slides to six-week low as Theresa May addresses lawmakers.

Sterling weakened to a six-week low yesterday just Theresa May was due to meet Tory lawmakers, some of whom have discussed ousting her in anger at her Brexit negotiations.

The PM is seeking to win over lawmakers in her own party who oppose her approach to Brexit negotiations, with just over five months before the UK leaves the European Union.

The possibility of a leadership challenge and politics scuppering an agreement with the EU has weakened the pound this week.

A clash on the fall-back plan for the border between Northern Ireland and Ireland is the main sticking point.

The pound fell to on Wednesday to $1.2882 against the dollar, its lowest since Sept. 10, and traded down half a percent. against a weaker euro, the pound fell to €1.1292 from €1.1339.

Data to look out today.   

12:45 EUR Bank Rate Decision.

13:30 USD Durable good, and Initial Jobless claims.

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

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