This evening’s FOMC meeting looks set to be the main event risk in the currency market this week. Read on to find out how the Fed’s policy announcement could impact the FX market.

The pound edged higher against its major peers this morning after MPs voted in favour of Boris Johnson’s controversial Brexit bill. All eyes now turn to major central bank policy announcements later in the week.

Since the FOMC’s last official meeting in late-July, the Federal Reserve has unveiled one of the most significant changes to its monetary policy strategy in the last few decades.

Like a sequel to a bad horror movie, the latest episode in the Brexit saga is reviving fears of a complete breakdown of Brexit negotiations and the attendant economic and financial chaos. The main victim was the pound, down over 3% against every major currency worldwide.

The pound was sent sharply lower again on Thursday as investors continue to fret about the state of the Brexit discussions. Meanwhile, the euro gave up its gains, despite a less dovish than expected ECB.

Ebury and MarketFinance are pleased to announce a new partnership designed to help businesses get back on track through the Coronavirus Business Interruption Loans Scheme (CBILS).

Sterling continued to sell-off against its peers on Tuesday amid ongoing concerns surrounding Brexit. The euro also drifted lower versus the dollar as investors braced for a dovish set of communications from the ECB on Thursday.

Sterling was the worst performing major currency on Monday after more doom and gloom headlines heightened the possibility of a ‘no deal’ Brexit.