Market Comment - 22nd August 2022

Posted by Stuart PritchardAugust 22, 2022

Good morning,

It's been a poor few days for the Pound versus the Dollar. The rate is now on a critical support line. If this is breached it's difficult to analyse where the rate might go to. This could be a fantastic time for anyone converting Dollars to Sterling.

Against the Euro the Pound is doing better as the rate holds towards the upper end of the mid term range.

Over the weekend China cut it's interest rate, and it's official mortgage rate as officials move to turn the property crisis in China around. It's estimated that $1 trillion in value has been wiped off the Chinese property sector in the last 12 months. Staggering numbers.

Other than that it's a fairly quiet day for scheduled news until tomorrow morning when there is a raft of global manufacturing and services news. In the meantime traders will be closely watching the GBP/USD rate.

Today’s Economic Calendar


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.

© 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

Currency Pairs, Approved Jurisdictions and Non-Permitted Activity

linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram