Increasing Hope of Brexit Deal

26th September 2018 Market Update

Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report.

?? GBP – Sterling rose for a second consecutive day on Tuesday, as a struggling Dollar and increasing hopes of a Brexit deal stoked demand for the Pound. Brexit Secretary Dominic Raab said this week that he was confident that a deal would be reached and, yesterday, Angela Merkel stated that she thought an agreement could be in place by the end of October. Elsewhere, MPC member Vlieghe suggested that the unwinding of QE need not have an impact on the economy if conducted at a steady pace.

There is nothing of interest due out today.

?? EUR – Amid a lack of data, the single currency has been broadly flat of late, though did lose a little ground yesterday to Sterling.

No economic events are due today.

?? USD – The greenback has been struggling of late, as the Sino-US trade dispute fuels uncertainty regarding the outlook for global growth. Investors are also raising bets that the Fed could be nearing the end of its rate hiking cycle. Today is likely to see a further increase, followed by a final rise at the end of the year. However, the outlook for 2019 is less clear.

The US interest rate decision and FOMC statement are due after close of business this evening.



  • GBP: Pound rallies on Brexit deal hopes
  • USD: Dollar struggles over interest rate sentiment


Find out more about our Money Transfer service for personal & business international payments. We’re committed to giving all clients the best rate possible, along with flexible and personalised service. Save time and money by reducing risk through a simple and efficient service.

FairFX Money Transfers


Darren Kilner

Darren Kilner

Darren is Head of Dealing at FairFX. Darren lives and breaths FX, his Mastermind topics are G8 currencies and economic forecasts.

Leave a Reply