• Pound in focus again

    Plenty of uncertainty again but we've seen the Pound make some solid gains in the past 24 hours on renewed positive Brexit outcome hopes and positive wages/jobs data but that's been tempered this morning by reports that three Tory MPs might defect and join the breakaway Labour MP-led Independent Group. Other focus today is the release at 19.00 GMT OF the latest US Fed FOMC Minutes.

    GBPUSD has been up to 1.3077 after pausing only for a while at the pivotal 1.3000 area. The Brexit-led rally was also helped by some GBPJPY demand too but now trading back down at 1.3027 as I type on that Tory defection talk.EURGBP has been down to 0.8675 (GBPEUR up to 1.1530) before finding buyers helped by the general GBP retreat.

    I remain GBP bearish overall and continue to rally-sell. Still no change as far as I'm concerned right now.The latest Brexit sentiment turnaround only highlighting how fragile/fickle the issue remains (no pun intended). Equally there is an argument in favour of buying dips at the moment too so I expect to see good two-way business.

    EURUSD has traded tightly and is also still making its mind up at 1.1350 while USDJPY has found some demand at 110.50 after a retreat from yesterday's highs and also continues to trade tightly.USDCHF has retreated from that sell interest around 1.0060 with EURCHF tightly bound and EURUSD looking underpinned for the moment.

    AUDUSD has also found support helped by some AUDJPY demand and generally weaker USD and been up to 0.7180 after yesterday's RBA-led wobble into 0.7100.USDCAD continues to retreat amid the current USD uncertainty and has now been down to test 1.3180 support.

    Fickle Forex markets ever prevailing so be ready with your entry/exit levels and orders as always.

    Have a good day one and all.

    Twitter: @MSPFX and @MikePatersonFX

    Interbank Rate 08.40 GMT

    GBPUSD 1.3030

    EURUSD 1.1347

    EURGBP 0.8708

    GBPEUR 1.1481

    GBPAUD 1.8206

    GBPCAD 1.7192

    GBPHKD 10.1022

    GBPZAR 18.3888

    USDZAR 14.1044

    USDJPY 110.85

    EURJPY 125.77

    GBPJPY 144.44

    AUDUSD 0.7156

    EURCHF 1.1358

    USDCAD 1.3195

    USDCHF 1.0011

    EURHKD 8.7990


official partner advert

Proud supporter of


Call us today: +44 (0) 1732 700 383

Email : info@mspfx.co.uk

Bringing You The Best Value Currency Deals

Raising the Standard in Foreign Currency Exchange & International Money Transfers

Office hours : Monday to Friday - 8am till 6pm

The MSP Update

Photo crop (passport)

Welcome to my blog

Daily market commentary from
Mike Paterson

The MSP Update is an essential tool for personal and business clients who want to be kept informed on a daily basis. If you would like to discuss your requirements then give us a call and talk to one our experienced team..

Call today +44 (0) 1732 700 383

Find out how much you could save today

Don’t let the banks or your existing foreign currency broker cash in with poor exchange rates and extortionate fees, Whether you are making a small or large, one-off or regular money transfer , MSP FX will offer the best rates for your individual foreign currency requirements and assist you in transacting at the most opportune moment possible given your timeframe. MSP Foreign Exchange Services offers complete security of funds by executing trades only through preferred FSA and HMRC regulated providers. For more information call us today and find out how MSP FX can help you.


You are viewing the text version of this site.

To view the full version please install the Adobe Flash Player and ensure your web browser has JavaScript enabled.

Need help? check the requirements page.

Get Flash Player