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    Sterling initially happy with budget, Turkish Lira at record lows

    Updated: May 11, 2019  

    Hi, Sterling was initially happy but has fallen against the Euro and US Dollar today following yesterday’s Autumn budget announcement, which has given UK economists plenty to talk about. UBS predicted the British Pound to fall closer to parity vs the Euro.

    The Euro has advanced against most of its peers in the last few days despite the political situation in Germany remaining uncertain.
    US Dollar, recent comments from Fed Chair Janet Yellen haven’t done much for the US Dollar, with the currency declining against both the Euro and Pound.
    The Aussie has continued it’s 3 month slump triggered by a negative responses to recent remarks from Reserve Bank of Australia (RBA) Governor Philip Lowe on national wage growth. Some investment banks predicted the Aussie could drop to US65c next year.
    The Kiwi has maybe started to climb back since steap declines on the announcement of a new government whose policies include a shake-up of the Reserve Bank Act which would give the central bank a more prominent in controlling the foreign exchange rate.
    The Turkish Lira is at record lows after been constantly hit by persistent political interference and deteriorating US relations. Perhaps time to stock up on Lira for next summers trip to Bodrum!
    The Swedish Krona hovers near SKr10 per euro amid housing jitters and central bank dovishness.


    Posted under: #News #Newsletters #TRY

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