Today we continue to see the weakening in the Pound which is great news for anyone considering exchanging Euros for the Pound. As per our previous comments this weakness could well continue. As ever we are on hand to discuss minute by minute the potential price action and upcoming news events.
The same can be said about the GBP/USD rate also where the next level of support is still a little way off. Risk off still appears to be the order of the day as traders return to the perceived safe haven of the Greenback. This was also backed up by the FOMC meeting minutes yesterday at 6pm that indicated the FED may start tapering off it’s bond purchasing currently standing at $120 billion per month. The program was initially instigated to mitigate outfall from the pandemic. This has certainly had a positive effect on the Dollar.
Looking ahead there’s a good mix of global data to come out. First is the Philadelphia FED Manufacturing Survey in the States followed by China’s interest rate decision in the early hours of the morning and culminating in UK Retail Sales and Public Sector Net Borrowing at early breakfast.
Maybe we will continue to see the slide of the Pound versus the majors although we will keep you abreast of changes.
As ever we look forward to keeping you in the loop and look out for our next update.
Our friendly currency experts are here to assist you and guide you through the markets, we offer a first-class service and even an online platform so you can monitor your transaction in real time.
Our business ethos is based on bank beating rates and fantastic customer service, click the link below for a no obligation quotation and see the savings for yourself.
Today’s Economic Calendar
US: 12:30 Philadelphia FED Manufacturing Survey
CHN: 01:30 Interest Rate Decision
UK: 06:00 Retail Sales and Public Sector Net Borrowing
© 2022. RegencyFX Ltd. All rights reserved. *Third party fees may apply.
Payment services for RegencyFX Ltd are provided by The Currency Cloud Limited. Registered in England No. 06323311. Registered Office: The Steward Building 1st Floor, 12 Steward Street London E1 6FQ.
The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199). In the US Currency Cloud operates in partnership with CFSB. CFSB fully owns the bank program and services are provided by The Currency Cloud Inc.
Payment services for Regency FX Ltd are provided by Sciopay Ltd. Sciopay Ltd is a company incorporated in England & Wales. Registration No: 12352935. Sciopay Ltd is licensed and regulated by HMRC as a Money Service Business (MSB).
License No: XCML00000151326. Sciopay Ltd is authorised by the Financial Conduct Authority as an Authorised Payment Institution. Firm Reference Number: 927951