- GBP/EUR opened at 1.1254 and traded a low of 1.1226 before rallying to close the day up just under a tenth of a percent at 1.1265.
- GBP/USD closed down on the day with the actual implementation of US tariffs of Chinese imports having a rather muted effect on the market. Cable opened at 1.3157 and closed down 0.08% on the day at 1.3146.
- EUR/USD opened at 1.1682 and traded a high of 1.1724 before closing at 1.1664.
- EU chief negotiator Michel Barnier said that the EU is ready to improve its offer on the Irish border has he warned the ‘moment of truth’ was nearing for Brexit negotiations.
- Canadian manufacturing sales m/m came roughly as expected at 0.9% vs 1.05 on Tuesday.
- New Zealand GDT price index came in at -1.3% and the current account figure came in at -1.62B which is worse than the -1.23B expected.
- Bank of Japan kept their policy rate at -0.10% overnight as expected.
- GBP/AUD, GBP/NZD and GBP/JPY came in at 1.8212, 1.9970 and 148.28.
- The UK inflation rate unexpectedly came in at 2.7% this morning – the highest level in 6 months. A rate of 2.4% was expected. A rise a prices of recreational goods, transport and clothing were behind the increase.
- UK PM May is due to make an appeal to EU leaders this evening – she is expected to tell them Brussels needs to evolve its position as the UK has done.
|Currency Pair||Interbank Rate||% Change on Day|
|Time (GMT)||Region||Data Release||Forecast||Previous|
|15:30||USD||Crude Oil Inventories||-2.7M||-5.3M|