Sterling continues to surprise

UK Public Net Sector Borrowing at 09:30, followed by Eurozone Confidence numbers.

Previous Day's Market Highlights

Sterling strengthened against most G10 currencies yesterday to push to fresh highs. The pound was up 0.45%, to touch 1.14 on the EUR for the first time in 2018, and up 0.9% on USD to reach 1.40 for the first time since the date of the referendum vote in June 2016. Economic data was sparse yesterday but it didn’t stop sterling catching a bid in from the start, and when North American trading commenced in the afternoon. EUR/USD remained confined to its week-long 1.2150 to 1.2300 range, despite a further day of government shutdown in the US, it remains bound at this resistance.

Currency Pairing 08:00 Today Vs 08:00 Yesterday Four-Week High Four-Week Low % Change
GBP/EUR 1.1398 1.1412 1.1197 1.88%
GBP/USD 1.3951 1.4003 1.3331 4.80%
EUR/USD 1.2245 1.2327 1.1817 4.14%
GBP/AUD 1.7518 1.7526 1.7098 2.44%
GBP/NZD 1.9071 1.9217 1.8613 3.14%
GBP/CAD 1.7408 1.7430 1.6757 3.86%

Today's Market Highlights

It’s a very light day on economic data, with only the Euro being in focus today. Eurozone Consumer Confidence data being released at 10am. Positive releases could lead to further Euro strength this morning.


Caxton