• US Dollar lower in post-FOMC fallout. BOE now in focus.

    We've seen USD in general retreat after the US Fed duly hiked interest rates by 0.25% and pointing to 2 hikes next year but markets knew that in essence. The Greenback was making its mind up after a relatively muted response and with equity markets falling we've also seen some risk-off sentiment prevail as I highlighted in a subsequent tweet. I hope you took heed.

    GBPUSD took out the offers/sell interest between 1.2650-60 but so far failed to seriously challenge those at 1.2680. EURGBP remains underpinned still with buy interest now still building at 0.9000 with sellers now around 0.9030 again.The BOE are out with their latest interest rate decision today at 12.00 GMT and although no change is expected we'll keep an eye on the vote count and any rhetoric that might get the algos excited. UK retail sales data out before at 09.30 GMT. Brexit still the big headline maker though.

    EURUSD has rallied on the USD supply to test 1.1430 with the buyers at 1.1360 holding the decline again post-FOMC and USDJPY has broken down through 112.00 on the softer USD/risk-off combo and now tested the bids/demand at 111.80 that I highlighted.

    USDCHF has fallen back to post 0.9913 as I type but supported by EURCHF finding dip demand again with the SNB seemingly ever-watchful while AUDUSD has fallen further to take out the 0.7100 support but stopped at 0.7080. USDCAD had various looks above 1.3500 but sellers have prevailed thus far has.

    Fickle Forex markets ever prevailing so be ready with your entry/exit levels and don't get greedy.Get your orders in to take full advantage of these moves.

    Have a good day one and all.

    Twitter: @MSPFX and @MikePatersonFX

    Interbank Rate 07.48 GMT

    GBPUSD 1.2655

    EURUSD 1.1420

    EURGBP 0.9024

    GBPEUR 1.1080

    GBPAUD 1.7806

    GBPCAD 1.7067

    USDJPY 111.87

    EURJPY 127.78

    EURCHF 1.1330

    USDCAD 1.3485

    USDCHF 0.9923

    GBPHKD 9.8114

    EURHKD 8.8551


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