Global Reach is becoming Corpay Cross Border, part of FLEETCOR, to broaden our client offering. Please contact our team or visit to find out more.

Heating up

Today's news headlines:

‘Almost 4.5 Million UK Families Are in Serious Financial Trouble’. Currently facing the worst cost of living crisis in a generation, a new study has found that around 16% of UK households are in serious financial difficulties, while another 20% are struggling to get by. The findings by abrdn Financial Fairness Trust and University of Bristol researchers will heap more pressure on the government, which is already in turmoil after Boris Johnson was forced to quit last week. The study found that wages are no longer keeping pace with inflation and social security is lower in real terms than a decade ago. (Bloomberg)

‘US Job Growth Tops Estimates, Unemployment Rate Holds at 3.6%’. The American labour market remained at its tightest in nearly five decades as Friday’s Non-Farm Payrolls number exceeded forecasts. The US added 372,000 jobs last month, while unemployment remained at 3.6%, figures that will likely keep the Federal Reserve on track for another bumper interest rate hike. Inflation remains broad-based at a 40-year high, leaving officials with little choice but to raise rates by at least 75bps at the end of this month. (Bloomberg)


Rising fears over the state of the global economy pushed the US Dollar higher overnight, while most Asian stocks and European and US equity futures fell. The Yen continued to underperform due to Japan’s ultra-easy monetary stance, while commodity currencies came under pressure with Oil suffering losses.


Italian Retail Sales: 9:00AM
UK Bank of England Governor Andrew Bailey speaks: 3:15PM
German Buba President Joachim Nagel speaks: 5:30PM
US Federal Open Market Committee member Williams speaks: 7:00PMPM

Interbank rates:

GBP/USD – 1.1970
GBP/EUR – 1.1815
EUR/USD – 1.0130
USD/CAD – 1.2990

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