Foreign Exchange Daily Market Update 14/01/19

Mon, January 14, 2019

Sterling could slip another 3%.

Sterling could fall by more than 3% to $1.24 by the end of March even on the most favourable Brexit outcome, the economy will be worse off than if “remain” had won the referendum.

Whatever form of Brexit arrangements is finally finalized, even the most market-positive outcomes would leave the economy weaker than we were in May 2016, A senior currency strategist stated.

After falling to $1.24, sterling could remain around that level until the middle of the year with any positive news unlikely to provide anything other than a temporary bounce.

Theresa May’s Brexit plan faces an almost certain defeat in a House of Commons in tomorrow’s vote, leaving open the prospect of the U.K. leaving the EU at the end of March with no new trading arrangements in place. Brexit-backers say May should go back to the EU and renegotiate before putting a revised agreement to a vote, though Brussels has indicated there’s little room for compromise.

Despite Brexit uncertainties, sterling has gained 0.6% this month to trade at $1.2827, after sliding 5.6% last year.


Data to look out today.   

Not much data due out today.





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

Data Releases

Day Time Currency Event
MON 07:00 EUR EUR German Wholesale Price Index (YoY)
MON 07:00 EUR EUR German Wholesale Price Index (MoM)
MON 10:00 EUR EUR Euro-Zone Industrial Production s.a. (MoM)
MON 10:00 EUR EUR Euro-Zone Industrial Production w.d.a. (YoY)
MON 16:30 USD USD U.S. to USD39 Bln Sell 3-Month Bills
MON 16:30 USD USD U.S. to Sell USD36 Bln 6-Month Bills
MON USD USD Advance Goods Trade Balance
MON USD Wholesale Inventories (MoM)
MON USD USD Retail Inventories (MoM)
MON USD New Home Sales
MON USD New Home Sales (MoM)
MON USD USD Construction Spending (MoM)
MON USD USD Factory Orders
MON USD USD Factory Orders Ex Trans
MON USD USD Durable Goods Orders
MON USD USD Durables Ex Transportation
MON USD USD Cap Goods Orders Nondef Ex Air
MON USD USD Cap Goods Ship Nondef Ex Air
MON USD USD Monthly Budget Statement
MON USD USD Trade Balance

Foreign Exchange Rates

GBP / USD 1.28699
GBP / EUR 1.12098
EUR / USD 1.14824
GBP / AUD 1.76550
GBP / CAD 1.68322
GBP / CHF 1.25403
GBP / CZK 28.3079
GBP / DKK 8.26026
GBP / HKD 10.00433
GBP / INR 89.9006
GBP / JPY 139.221
GBP / MUR 43.16
GBP / NOK 10.78109
GBP / NZD 1.86536
GBP / PLN 4.75389
GBP / SEK 11.32266
GBP / SGD 1.72492
GBP / THB 40.8092
GBP / TRY 6.9312
GBP / ZAR 17.66938

*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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