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March 2016

Sterling dropped in the wake of the Brussels' terror

Published: Tuesday 22 March 2016

Blasts at Brussels’ Zaventem airport and metro stations have seen risk off sentiment dictate price action. Sterling has dropped in the wake of the Brussels’ terror attacks which consequently raise the risk of UK voters supporting the campaign to leave the EU. In addition, UK inflation was a shade tamed, with the headline rate staying at 0.3% y/y in February instead of rising to 0.4% as transport costs pushed down annual inflation.
German Investor morale thaws from a 16 month low in March but still in lower then expectation. Whilst the IFO readings actually improved more than expected, confidence has started to improve for the first time in four months; a sign that domestic demand is helping shield companies in Europe’s largest economy from slowing global growth.

Latest FX news by Denzil Rickerby

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