- Sterling weakened against the euro yesterday ending a run of six consecutive days of gains.
- Sterling had rallied from 1.1118 to a high of 1.1463 over the past two and a half weeks but dropped off that high yesterday to close at 1.1410.
- GBP/EUR opened at 1.1445 and traded a low of 1.1399 closing down one third of a percent on the day.
- GBP/USD opened at 1.3188 and traded a high of 1.3245 before closing at 1.3230 representing a gain of 0.32% on Thursday.
- US CPI m/m was predicted to come in at 0.2% but we saw a figure release of 0.1% and we saw identical forecasts and figures in core CPI m/m with the 0.1% vs 0.2%.
- UK works and pension secretary Esther McVey declined to back Theresa May’s Brexit plans, saying that she did not ‘want to add to speculation’.
- The China trade balance came better than expected at 213B vs 85B overnight.
- GBP/AUD, GBP/NZD and GBP/JPY are currently trading 1.8558, 2.0268 and 148.37, respectively.
- Cabinet ministers expressed concern about potential compromises with the EU- the concerns centre around plans to ensure no hard border between Ireland and Northern Ireland.
- The DUP in Northern Ireland they could vote against next month’s Budget if Brexit negotiations result in a trade barrier between Great Britain and Northern Ireland.
|Currency Pair||Interbank Rate||% Change on Day|
|Time (GMT)||Region||Data Release||Forecast||Previous|
|15:00||USD||Preliminary UoM Consumer Sentiment||100.4||100.10|