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Foreign Exchange Daily Market Update 04/03/19

Mon, March 04, 2019

Confidence in sterling grows as banks take no-deal risk off the table.

Sterling confidence has grown, as fears of crushing out of the EU turns toward expectations for a deal or delay. with Theresa May having seen off a lawmaker unrest by promising a series of Parliament votes just weeks before the exit date.

Sterling has rallied more than 4% this year, as the risk of a no-deal Brexit loomed. With the risk of a no-deal Brexit now most likely off the table by end-March, as well as the increased effectiveness of pro-deal MPs

The main thing to this is May’s decision to allow lawmakers a say on what happens next if there is no agreement on her deal in a March 12 vote. There will be two further votes in Parliament in subsequent days, on no deal and on delaying Brexit.

Sterling fell 0.3% to $1.323 this morning against the dollar.  The remained the same at 1.167 against the Euro.

 

Data to look out today.   

Not much data due out today.

 

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 09:30 EUR EUR Euro-Zone Sentix Investor Confidence
MON 09:30 GBP GBP Markit/CIPS UK Construction PMI
MON 10:00 EUR EUR Euro-Zone Producer Price Index (MoM)
MON 10:00 EUR EUR Euro-Zone Producer Price Index (YoY)
MON 15:00 USD USD Construction Spending (MoM)
MON 16:30 USD USD U.S. to Sell USD48 Bln 3-Month Bills
MON 16:30 USD USD U.S. to Sell USD39 Bln 6-Month Bills
MON 00:01 GBP GBP BRC Sales Like-For-Like (YoY)

Foreign Exchange Rates

GBP / USD 1.32407
GBP / EUR 1.16717
EUR / USD 1.13339
GBP / AUD 1.87050
GBP / CAD 1.76192
GBP / CHF 1.32537
GBP / CZK 29.9179
GBP / DKK 8.711126
GBP / HKD 10.39663
GBP / INR 93.7564
GBP / JPY 148.135
GBP / MUR 41.68
GBP / NOK 11.21409
GBP / NZD 1.94636
GBP / PLN 5.017489
GBP / SEK 12.29866
GBP / SGD 1.76498
GBP / THB 42.1792
GBP / TRY 6.94312
GBP / ZAR 18.89138

*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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