Market insights

Market Comment - 17th June 2022

Good morning,

The Bank of England raised the UK's base rate by the expected 0.25% yesterday to 1.25%. After the hawkish 0.75% by the FED the night before there appeared to be some belief in traders that the rate hike might have been greater in the run up to the decision as the Pound strengthened versus the Dollar and the Euro. However it appears the earlier GDP and employment numbers created the brake.

Overnight the Bank of Japan kept their interest rate at negative 0.1% which has had little bearing on global markets.

GBP/EUR has climbed nicely back out of the breakout to downside and is now towards the bottom of the mid term trading range.

GBP/USD is similar although the rate is still way off recent highs.

Today sees speeches by members of the Bank of England Monetary Policy Committee followed by a speech by the FED's Jerome Powell later and all topped off with the FED's Monetary Policy Report later in the day. The weekend looks quiet for news until the early hours of Monday when the People's Bank of China releases their interest rate decision.

As ever we look forward to keeping you in the loop and look out for our next update.

Our friendly currency experts are here to assist you and guide you through the markets, we offer a first-class service and even an online platform so you can monitor your transaction in real time.

Our business ethos is based on bank beating rates and fantastic customer service, click the link below for a no obligation quotation and see the savings for yourself.

GET A QUOTE

Today’s Economic Calendar

UK: 09:30 BoE Huw Pill Speech

UK: 09:30 BoE Silvana Tenreyro Speech

US: 13:45 FED's Jerome Powell Speech

US: 16:00 FED Monetary Policy Report

CHN: Monday 02:30 PBoC Interest Rate

Open a Personal Account

Open a Business Account

Get your free quote now

Economic calendar

As ever we look forward to keeping you in the loop and look out for our next update.

Our friendly currency experts are here to assist you and guide you through the markets, we offer a first-class service and even an online platform so you can monitor your transaction in real time.

Our business ethos is based on bank beating rates and fantastic customer service, click the link below for a no obligation quotation and see the savings for yourself.

Open a free account

It is free and easy
Register