13th June 2018-Sterling gained support as the government avoided Brexit vote defeats in the House of Commons

 

     

Sterling gained support as the government avoided Brexit vote defeats in the House of Commons

US inflation data was close to expectations, limiting the scope for substantial moves in US yields, although the headline rate was at the highest level for over five years.

The dollar gradually gained ground amid expectations of a firm Federal Reserve policy statement following the latest FOMC policy meeting.

Risk conditions held steady, although concerns surrounding the risk of higher interest rates undermined most Asian bourses.

Sterling gained some support as the government avoided Brexit vote defeats in the House of Commons after concessions to potential rebels.

Headline UK average earnings growth slowed to 2.8% in the three months to April compared with expectations of 2.9% while underlying earnings growth was unchanged at 2.5%. The unemployment rate was held at 45-year lows of 4.2% while there was a significant decline in the claimant count while the employment increase of 146,000 in the 3-month period was above consensus forecasts.  The data overall had little impact on interest rate expectations with further doubts whether an August move could be sanctioned.

Political considerations were important as the House of Commons debated the EU Withdrawal Bill with Sterling losing ground after the US open amid speculation that there would be a government defeat. Just ahead of voting, however, there were reports that concessions had been made to appease rebels which pushed Sterling sharply higher.

The government did survive the votes, easing immediate fears, although there were also concerns that Prime Minister May’s position remained extremely weak. EUR/GBP retreated to lows near 0.8770 from 0.8820, although GBP/USD was unable to hold above 1.3400 with little change on Wednesday ahead of the latest UK inflation data.

     
 
       
 

GBP/EUR 

– 1.1376

 
 

GBP/USD

– 1.3358

 
 

GBP/CHF 

–  1.3198

 
 

GBP/JPY 

– 147.73

 
 

GBP/AUD 

– 1.7648

 
 

GBP/NZD 

– 1.9060

 
 

GBPCAD

– 1.7410

 
 

GBP/ZAR 

– 17.8466

 
 

GBP/NOK 

– 10.7511

 
 

GBP/SEK 

– 11.5505

 
 

EUR/USD 

– 1.1740

 
       
  All rates are indicative of interbank rates*  
       
 
 

GBP/EUR

 
 

GBP/USD 

 
 

EUR/USD 

 
       
 
   

09:30 GBP

UK CPI (M/M)

0.40%

0.40%

 
   

09:30 GBP

UK CPI (Y/Y)

2.50%

2.40%

 
   

19:00 USD

FOMC Interest Rate Decision

-

1.75%

 
   

19:00 USD

FOMC Press Conference

-

-

 
 
   
 
 
*All rates shown are indicative of interbank rates and should only be used for indication purposes only. It is important to note that foreign exchange rates fluctuate and that rates may vary depending on the amount and the base currency that is purchased or sold. Rates are correct as of 8:00am UK time.  CentralFX are not responsible for the rates shown.
 
 
 

Sign up to our newsletter

  1. Please tell us your name(*)
    Please use only alpha-numeric characters
    Please use only alpha-numeric characters
  2. Your Email(*)
    Please let us know your email address.
  3. Business / Personal(*)
    Invalid Input
  4. Please tell us a telephone number you can be contacted on(*)
    Please use only numbers and hyphens

Get in touch

CentralFX

3 Lloyds Avenue
London, EC3N 3DS

+44 (0) 20 7265 7979

info@centralfx.co.uk

We trade currency here. You can trade currencies too. Why not try our currency calculator and use our currency chart and currency economic calculator. Currency is everything here.We trade currency here. You can trade currencies too. Why not try our currency calculator and use our currency chart and currency economic calculator. Currency is everything here.We trade currency here. You can trade currencies too. Why not try our currency calculator and use our currency chart and currency economic calculator. Currency is everything here.

.We trade well business here. You can trade business too. Why not try our with business and use our business chart and business economic. business is business here.

We use well business use here. You can trade with great use. Why not use our with use and use our business chart and use economic. business us business use.We use well business use here. You can trade with great use. Why not use our with use and use our business chart and use economic. business us business use.We use well business use here..

Why not trade with our trade and use our trade chart and trade economic.You can trade as we trade too. Why not trade with our trade and use our trade chart and trade economic. trade is trade here.We trade well trade here. You can trade as we trade too. Why not trade with our trade and use our trade chart and trade economic. trade is trade here

.We centralfx well centralfx here. You can centralfx as we centralfx too. Why not trade with centralfx our centralfx and use our centralfx chart and centralfx economic. centralfx is centralfx here.We centralfx well centralfx here. You can centralfx as we centralfx too.