Currencies Brief – 18th August 2017

Currencies Direct, the UK based foreign exchange broker and hassle free international payment provider has reported that pound that reported strong gains was unable to hold them when the day closed. The markets were largely unimpressed by UK retail sales data. GBP/EUR recorded strong gains based on European Central Bank’s minutes of the meeting. GBP/USD displayed signs of weakness. The full article can be read in this link - https://www.currenciesdirect.com/en/news/currency-news/lacklustre-uk-retail-sales-leave-pound-soft

"This week's wages and retail sales data did little to alter the growing market belief that a U.K. rate hike is likely only in the second half of 2018 and with a thin data calendar for the next couple of weeks, the market will be rangebound," said Manuel Oliveri, an FX strategist at Credit Agricole in London. The full article can be read in this link - https://in.reuters.com/article/uk-britain-sterling-open-idUSKCN1AY0SH

Asian market currencies have been having a great year except the Philippine peso. Thailand baht has had a 7.4 percent increase. The full article can be read in this link - https://www.bloomberg.com/news/articles/2017-08-18/in-a-good-year-for-asia-currencies-philippine-peso-is-unloved

Dollar future depends on Trump - the man who unwinds it. The full article can be read in this link - https://www.bloomberg.com/news/articles/2017-08-17/for-the-dollar-it-s-all-about-trump-no-matter-how-you-slice-it

A report states that is the forex kitty continues to grow at the present rate, it will cross the 400 billion mark on 8^th September 2017. The pace has been strongest since 2015. The full article can be read in this link –

http://economictimes.indiatimes.com/markets/forex/forex-reserve-may-cross-400-billion-mark-by-first-week-of-september/articleshow/60103045.cms

www.xferisfree.com is an upcoming currencies comparison startup. Our mission is not only to help you find the best rates possible but also to provide you the relevant offers that would enable you to buy for less. We intend to provide you with shopping coupons of your favourite brands so that you get a value of more than the money that you paid as transfer charges - thereby making your transfers virtually free. And we would publish articles that would help one decide the best way to transfer money. We are an affiliate  of TransferWise, Xendpay, Azimo, Currencies Direct, Orbit Remit, and World Remit

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