Blog


Market Update

Sterling fell more than half a percent to this morning after Prime Minister Theresa May returned from a visit to Brussels, where she attempted to win assurances from the European Union over her Brexit withdrawal agreement.

The trip, which has been cast by opponents as a failure, has not gone down well in currency markets, with the pound falling to a day’s lows.

The euro fell as the euro zone economy showed more signs it’s beginning to sputter, while the dollar made some headway as investors turned nervous about a slowdown in China.

The euro was hurt when the European Central Bank cut forecasts for economic growth and inflation. The reduction was modest, but its underscored concerns about a euro zone slowdown and the central bank’s caution as it ends its bond-buying scheme and tries to wean the region off stimulus.

Analysts say the next catalyst for larger moves in the dollar will be the Federal Reserve’s Dec. 18-19 meeting. It is expected to raise interest rates and give guidance on the pace of any tightening next year.

Leave a Reply

Your email address will not be published.

What's Going On?

Currencies 4 You Ltd is a company registered in England and Wales (registered no. 06866898). Registered office: Regus House Victory Way Admirals Park, Crossway, Dartford, Kent, DA2 6QD. Currencies 4 You Ltd Payment and Foreign Currency Exchange Services are provided by Currency Cloud Limited and Equals Connect Limited. Currency Cloud Limited. Registered in England No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money. FCA registration number: 900199. Payment Services are provided by Equals Connect Limited, registered in England and Wales (registered no. 07131446). Registered Office: Vintners’ Place, 68 Upper Thames St, London, EC4V 3BJ. Equals Connect Limited are authorised by the Financial Conduct Authority to provide payment services (FRN: 671508). Payment services for Currencies 4 You Ltd are provided by Sciopay Ltd. Sciopay Ltd is a company incorporated in England & Wales. Registration No: 12352935. Sciopay Ltd is licensed and regulated by HMRC as a Money Service Business (MSB). Licence No: XCML00000151326. Sciopay Ltd is authorised by the Financial Conduct Authority as an Authorised Payment Institution. Firm Reference Number: 927951. | Terms and Conditions | Privacy Statement | Careers