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.





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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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