Foreign Exchange Daily Market Update 01/04/19

Sterling falls as Parliament falls short to end Brexit deadlock again.

Sterling headed for its worst month since October against the dollar after U.K. lawmakers voted against Theresa May’s Brexit plan for a third time on Friday.

On Friday Sterling slid to a three-week low instantly after the vote result. The failure of May’s last-ditch effort to get her deal through Parliament leaves the U.K. with the choice between crashing out of the EU without a deal in two weeks or looking a long extension of the exit date. Parliament will again today on various alternatives to May’s deal.

Donald Task president of the European council called an emergency EU summit for April 10, ahead of the current deadline for Britain to leave the bloc. A no-deal Brexit in two weeks’ time is now likely.

Sterling fell as much as 0.5% on Friday to $1.2978, the lowest since March 11, before slowly climbing back to $1.3026. It weakened 0.2% to 15.80 against the Euro.

 

  • U.K. lawmakers reject May’s deal by 344 votes to 286 on Friday.

 

Data to look out today.   

14:00 USD Manufacturing.

 

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

Travel Money Rates

Thu, March 29, 2018

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