June 2023 Monthly Currency Report for SME’s
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Protect Your Business with Monthly Currency Reports
Our free monthly currency exchange report aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX business. Read more about the impact of exchange rates on international commerce.
Download our free monthly currency report and to keep up to date with key events throughout the month. The free currency reports analyse historical charts and provide the basis for discussion with stakeholders across your foreign exchange business. The monthly currency report provides a useful resource and meaningful insights for currency risk management policies.
For more helpful information for small and medium enterprises, check out our guide to trade finance for UK SMEs.
GBP – May in review
Recession risk fades
- IMF upgrades UK growth forecast
- Inflation falls into single figures
- Bailey admits to fears over wage-price spiral
- GBP continues medium-term advance
GBP – June what to watch
Rates to continue to rise
- BoE not likely to pause after inflation data
- Hunt is unlikely to approve tax cuts this year
- Housing prices to contribute to economic confidence
- Pound supported by possible rate hikes
USD – May in review
Debt ceiling a “red herring”?
- Debt ceiling agreement must be “sold” to Congress
- Employment fall supports a soft landing
- Powell adopts a more dovish stance
- Falling risk appetite supports dollar
USD – June what to watch
Congress may jeopardize economy
- Kashkari leaning towards supporting a pause
- Uncertainty over debt ceiling to bring chaos
- Weekly jobless claims likely to continue to rise
- FOMC pause may see dollar correct further
EUR – May in review
Hawks remain in control
- De Guindos believes that hikes are coming to an end
- Inflation remains “sticky”
- Unemployment rises but is still very low
- Single currency retreats from 1.10 watershed
EUR – June what to watch
At least two more hikes likely
- Governing council hasn’t discussed a pause yet
- Construction sector suffering a major contraction
- ECB committed to reaching a restrictive state
- Only continued rate hikes will support euro
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