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Your email address will not be published. Required fields are marked *

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’s Payment and Foreign Currency Exchange Services are provided by Ebury Partners UK Limited. Currencies 4 You Ltd is partnered with Ebury Partners UK Limited as its Programme Manager. Ebury Partners UK Limited are authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution. (Reference Number 900797). | Terms and Conditions | Privacy Statement | Careers