Movement across currency markets sees continued sensitivity in Sterling

The movement across currency markets last week saw continued sensitivity in Sterling regarding all things Brexit related. For a nice difference, we actually saw some strength in Sterling following the positive comment from a UK government lawyer that any Brexit deal would likely need to be ratified by the UK Parliament – this helped ease the concerns over the possibility of a ‘hard Brexit’. We also had other contributing macroeconomic factors such as strong CPI and much better than expected unemployment claims.

This morning, we’re starting the day with some PMI data from the Eurozone at 9AM with the French and German figures coming out fairly mixed with France at lower than expected (and lower than previous) figures and Germany at higher. We’re also awaiting the UK CBI industrial trends survey at 11AM and William Dudley’s Fed Speech at 2:05PM followed by the US Manufacturing PMI data at 2:45PM. Overall, there’s potential for another positive day.

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Article by Sam Budd, Corporate Dealer
* Information courtesy of Currencies Direct
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