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Sterling Lower as Dollar Gains

28th September 2018 Market Update

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?? GBP – Sterling slumped on Thursday on the back of broad Dollar gains after a US rate hike, and with investors still nervous about the outcome of negotiations on the terms of Britain’s planned exit from the European Union. From the UK today, we have data in the form of the yearly and quarterly GDP numbers.

?? EUR – Data was limited from across the Eurozone on Thursday as investors took time to digest the comments made from ECB chief Mario Draghi with his comments on Monday regarding monetary policy and forward guidance. From the Eurozone today, we have data in the form of inflation numbers mid-morning.

?? USD – From across the Atlantic the greenback continued to make gains against its major trading partners despite a mixed set of durable goods numbers and GDP numbers on Thursday. Most attention continues to focus on the recent US-China trade war in relation to tariffs on goods. From the US today, we have data in the form of the consumer sentiment numbers in the afternoon sessions.

 

Summary: 
Sterling edges lower on continued uncertainty surrounding Brexit talks.
 
US Dollar makes further gains amid ongoing US-China trade tariff tensions.

 

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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.

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