Daily Currency Update

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GBP well supported on Brexit sentiment

GBP - British Pound

GBP/USD pushed through the 1.28 figure on positive Brexit sentiment yesterday, despite no agreement being struck, yet. Volatility in GBP crosses remains heightened in advance of today's EU Summit and will likely continue for the rest of the week. Still, there are reports that the DUP might not support the draft as it looks currently - so whatever they have to say over the next 12-24 hours will almost certainly move the quid.

Key Movers

US retail sales data printed weaker than expected yesterday and put some downward pressure on the dollar. Meanwhile, not only do the war of words between US and China rumble on but US-Turkey relationships remain strained, and potentially coming to a head.

Expected Ranges

GBP/USD: 1.2250 - 1.3120 ▼

GBP/EUR: 1.1350 - 1.1710 ▼

GBP/AUD: 1.8350 - 1.9200 ▼

GBP/NZD: 1.9800 - 2.0550 ▼