Foreign Exchange Business Foreign Exchange Personal Foreign Exchange Partners

Foreign Exchange Daily Market Update 13/12/18

Thu, December 13, 2018

Sterling still faces a rocky road as May's Brexit conflict is far from over.

The pound could still be in for rough stretch, even after Theresa May survived a bid to oust her as she seeks to rally support for her Brexit deal.

Sterling strengthen the more yesterday in the run to the vote than the whole previous month but has failed to build upon that strength after Conservative Party voted 200 to 117 to keep May as party leader.

Given the number of votes that went against her, and the uncertainty ahead – the PM still faces the daunting task of getting her Brexit plan past Parliament.

It failed to rally further, when you see a dynamic like that, it means the good news is priced in.

While last night vote means that the Theresa May can’t be challenged within her party for another year, the limited margin of victory may be sapping sterling gains.

Wednesday may amount to a temporary release for the embattled premier. She faces hardened opposition in Parliament to the Brexit deal she negotiated with the EU, and her attempts to get better terms have fallen flat. If May cannot get her exit terms through Parliament, Britain will be on course for a no-deal Brexit, risking economic and political upheaval. The idea of a second referendum has also been mooted by some.

As the March deadline edges closer for Britain to leave the EU and urgency builds up, Parliament may have no choice but to vote a deal through, with the alternative being a no-deal Brexit, which no one wants.  

The pound rose as much as 1.5% last night to $1.2672, from 1.2478 against the dollar, sterling rose to 1.111 from 1.102 against the Euro.                                       

 

  • Prime minister won confidence vote among Tory Party lawmakers

 

Data to look out today.   

12:45 EUR ECB bank rate decision.

 

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
THU 12:45 EUR EUR European Central Bank Rate Decision (DEC 13)
THU 12:45 EUR EUR ECB Marginal Lending Facility (DEC 13)
THU 12:45 EUR EUR ECB Deposit Facility Rate (DEC 13)
THU 13:30 USD USD Import Price Index (MoM) (NOV)
THU 13:30 USD USD Export Price Index (MoM) (NOV)
THU 13:30 USD USD Export Price Index (YoY) (NOV)
THU 13:30 USD USD Import Price Index ex Petroleum (MoM) (NOV)
THU 13:30 USD USD Initial Jobless Claims (DEC 8)
THU 13:30 USD USD Continuing Claims (DEC 1)
THU 13:30 USD USD EIA Working Natural Gas Implied Flow (DEC 7)
THU 13:30 USD USD EIA Natural Gas Storage Change (DEC 7)
THU 13:30 USD USD U.S. to Sell 8-Week Bills
THU 13:30 USD USD U.S. to Sell 4-Week Bills
THU 13:30 USD USD U.S. to Sell USD16 Bln 30-Year Bonds Reopening
THU 13:30 USD USD Monthly Budget Statement (NOV)

Foreign Exchange Rates

GBP / USD 1.26668
GBP / EUR 1.11264
EUR / USD 1.13724
GBP / AUD 1.74950
GBP / CAD 1.69022
GBP / CHF 1.25403
GBP / CZK 28.7279
GBP / DKK 8.30026
GBP / HKD 9.88433
GBP / INR 90.5306
GBP / JPY 143.581
GBP / MUR 42.86
GBP / NOK 10.81109
GBP / NZD 1.84136
GBP / PLN 4.77389
GBP / SEK 11.46866
GBP / SGD 1.73492
GBP / THB 41.3892
GBP / TRY 6.81312
GBP / ZAR 17.86938

*These are indicative rates only, based on interbank prices at the time of writing. For exact rates please contact our dealing team

December 2018
S M T W T F S
25 26 27 28 29 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 4 5
RSS Feed

Please subscribe to our FREE foreign exchange market update feed.

Cookies On The KBRFX Website

We use cookies on our website. They help us to know a little bit about you & how you use our website. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on our website. However, if you would like to, you can change your cookie settings at any time.

Continue Find out more