Global Reach is becoming Corpay Cross Border, part of FLEETCOR, to broaden our client offering. Please contact our team for further information. 

Hanging on by a thread

Today's news headlines:

‘Euro slides to edge of Dollar parity as pros call it “unbuyable”’. Growth concerns in the Eurozone have pushed the Euro to its lowest level against the US Dollar for 20 years. Option pricing is indicating a 50% chance of the Euro hitting parity against the US Dollar in the next month. The threat of Russia cutting off the gas supply heading into the winter is also a concern for European economies, with Nomura FX strategist Jordan Rochester expecting the Euro to fall to 0.98 against the US Dollar by August. (Bloomberg)

‘Mortally wounded Boris Johnson defies Cabinet demands to quit’. Boris Johnson continues to cling to power as he faces a wave of resignations from his Cabinet, with now over 40 MPs quitting their posts. The Prime Minister has been insistent that a leadership challenge would create unnecessary chaos, which would eventually lead to a defeat in a general election to Labour. (Bloomberg)


Asian stocks were mixed overnight, while European shares are higher this morning. Oil prices remain contained around $100 per barrel, with the US Dollar Index down 10 basis points while Sovereign bond yields rise.


European Central Bank Monetary Policy Meeting Accounts: 12:30PM
US Trade Balance (May): 1:30PM
US Initial Jobless Claims (July 2nd): 1:30PM
Canadian Ivey Purchasing Managers’ Index: 3:00PM
Federal Open Market Committee member James Bullard speaks: 6:00PM

Interbank rates:

GBP/USD – 1.1957
GBP/EUR – 1.1730
EUR/USD – 1.0194
USD/CAD – 1.3015

The markets are moving. To speak to our team, please call +44 (0)20 3465 8200.