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Foreign Exchange Daily Market Update 26/11/18

Mon, November 26, 2018

Sterling rises slightly after EU leaders sign off on Brexit deal.

Sterling rose after European leaders approved Britain’s Brexit divorce terms at a special summit yesterday in Brussels.

The EU approved the deal as expected but warned UK politicians they won’t get a better agreement if they reject it. That may weigh down any sterling gains, given that Theresa May needs to get the deal through Parliament and is facing calls to change it from both her own party and the opposition.

Sterling gained 0.2% to $1.2839 overnight. The pound has made little headway this month, despite the Brexit deal being agreed, after the resignation of some of May’s ministers made it clear how much lawmakers oppose to the deal. GBP traded 1.13 against the Euro.

The vote in the House of Commons should take place between Dec. 10-11. Approval by lawmakers could drive the pound up above $1.35, while rejection could send it toward $1.20.

 

Data to look out today.   

14:00 EUR Draghi speaks in European parliament in Brussels.

 

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

Day Time Currency Event
MON 09:00 EUR EUR German IFO Business Climate (NOV)
MON 09:00 EUR EUR German IFO Expectations (NOV)
MON 09:00 EUR EUR German IFO Current Assessment (NOV)
MON 09:00 EUR EUR ECB's Praet Speaks in Frankfurt
MON 09:30 GBP GBP BBA Loans for House Purchase (OCT)
MON 12:00 EUR EUR ECB's Nowotny Coeure at Central Bank Conference in Vienna
MON 13:30 USD USD Chicago Fed Nat Activity Index (OCT)
MON 14:00 EUR EUR ECB's Draghi Speak in European Parliament in Brussels
MON 15:30 USD USD Dallas Fed Manufacturing Activity (NOV)
MON 16:30 USD USD U.S. to sell USD39 Bln 3-Month Bills
MON 16:30 USD USD U.S. to Sell USD39 Bln 2-Year Notes
MON 18:30 GBP GBP BOE Governor Carney former Fed Chairman Greenspan Speak

Foreign Exchange Rates

GBP / USD 1.28468
GBP / EUR 1.13001
EUR / USD 1.13619
GBP / AUD 1.79819
GBP / CAD 1.69678
GBP / CHF 1.28083
GBP / CZK 29.2725
GBP / DKK 8.43126
GBP / HKD 10.04633
GBP / INR 90.8906
GBP / JPY 145.369
GBP / MUR 43.96
GBP / NOK 10.99709
GBP / NZD 1.88826
GBP / PLN 4.84889
GBP / SEK 11.61066
GBP / SGD 1.76392
GBP / THB 42.4392
GBP / TRY 6.73642
GBP / ZAR 17.73538

*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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