{"id":9847,"date":"2023-10-03T12:55:55","date_gmt":"2023-10-03T12:55:55","guid":{"rendered":"https:\/\/www.worldfirst.com\/my\/?page_id=9847"},"modified":"2023-12-19T11:16:01","modified_gmt":"2023-12-19T11:16:01","slug":"fx-update","status":"publish","type":"page","link":"https:\/\/www.worldfirst.com\/my\/fx-update\/","title":{"rendered":"fx update"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"9847\" class=\"elementor elementor-9847\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2335441 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2335441\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f925a86 heading-title\" data-id=\"f925a86\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-92b6fc9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"92b6fc9\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-2fee588\" data-id=\"2fee588\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-88b89a6 brands-partners elementor-widget-tablet__width-initial elementor-widget elementor-widget-heading\" data-id=\"88b89a6\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.23.0 - 15-07-2024 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h1 class=\"elementor-heading-title elementor-size-default\">News, insights and analysis from the global FX markets<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5a1c41f partners-description elementor-widget-tablet__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"5a1c41f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.23.0 - 15-07-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\tThis is your monthly FX market round-up with the latest news, insights and analysis.\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2a3ee88 elementor-widget elementor-widget-image\" data-id=\"2a3ee88\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.23.0 - 15-07-2024 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1536\" height=\"425\" src=\"https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/10\/2023\/12\/asset_fx_update.png\" class=\"attachment-full size-full wp-image-25267\" alt=\"\" srcset=\"https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/10\/2023\/12\/asset_fx_update.png 1536w, https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/10\/2023\/12\/asset_fx_update-300x83.png 300w, https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/10\/2023\/12\/asset_fx_update-1024x283.png 1024w, https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/10\/2023\/12\/asset_fx_update-768x213.png 768w\" sizes=\"(max-width: 1536px) 100vw, 1536px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5c5f6a32 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5c5f6a32\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-45305d52\" data-id=\"45305d52\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5130fcde elementor-widget elementor-widget-heading\" data-id=\"5130fcde\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">GBP<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-13fa33a1 elementor-widget elementor-widget-text-editor\" data-id=\"13fa33a1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>In what has been a welcome relief for foreign currency buyers in the UK, the pound has rallied back against the euro and dollar through the tail end of November and into the start of December. Lifting as much as 2% against the single currency and a staggering 5.3% against the greenback in the last 30 days, it\u2019s given some much needed breathing space in the run-up to Christmas.<\/p><p>Interest rate predictions heading into the final round of policy meetings for the year continue to dominate the headlines in the currency world, with the uptick in the pound mainly being attributed to the currency on the other side of the price however.<\/p><p>Rumours circulating that both The Fed and European Central Bank will look to reduce interest rates before the next Bank of England meeting is allowing the sterling to reverse previous losses. Inflation still remains a hot topic, with European, American and British readings all dropping towards the target 2%. It could be a case of who blinks first in slashing interest rates. The date to highlight in the calendar for the final BoE meeting is Thursday 14th December, where the Monetary Policy Committee sit down for the final time before February 2024.<\/p><p>Heading into the year-end also brings about the annual Santa rally, which could give the pound another boost heading into the festive period \u2013 potentially bringing the 1.30 level into sight against the dollar.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1de8f4f4 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1de8f4f4\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-39784d28\" data-id=\"39784d28\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5f295802 elementor-widget elementor-widget-heading\" data-id=\"5f295802\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">USD<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-71786796 elementor-widget elementor-widget-text-editor\" data-id=\"71786796\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>With no surprise, the November FOMC rate decision was to hold still. <br \/>Worse than expected employment conditions mean the US economy could be at a crucial turning point which the Fed will watch closely. The latest CPI figures also showed that prices are cooling down faster than anticipated.<br \/>The market believes that the Fed has ended its year-long hiking cycle. Furthermore, we\u2019re now looking at as many as four cuts in 2024 \u2013 meaning we could be seeing rates at close to 4% by the end of 2024. <br \/>Could that be bad news for the USD looking forward? Not necessarily. At least, not against the EUR. We\u2019re seeing inflation falling just as fast in Europe and the European economies aren\u2019t looking prosperous to say the least.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-15d5b14a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"15d5b14a\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7144641e\" data-id=\"7144641e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7ac17d2f elementor-widget elementor-widget-heading\" data-id=\"7ac17d2f\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">EUR<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2d390d5c elementor-widget elementor-widget-text-editor\" data-id=\"2d390d5c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>In November, global stock and bond prices rallied, with the 10-year US Treasury rate dropping below 4.20% from its recent peak of 5.00%. Despite the sharp decline in the dollar, the euro failed to follow suit against most major currencies, reflecting concerns about a potential eurozone recession and disinflationary pressures.<\/p><p>The eurozone, mirroring the global disinflationary trend, experienced a sharper-than-expected fall in both headline and core inflation indicators in the November flash report. With core inflation solidly below 4%, it&#8217;s evident that the European Central Bank&#8217;s hiking cycle is concluded. The European economy&#8217;s underperformance, coupled with concerning economic indicators from China, suggests a lack of imminent global demand recovery.<\/p><p>Given the pessimistic growth outlook and the possibility of a euro area recession by year-end, expectations lean towards eurozone rate cuts before the US. Markets are eyeing a potential first rate reduction in March 2024. This anticipation could lead to a partial retracement in the euro in the coming weeks.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4aff62d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4aff62d\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6baae040\" data-id=\"6baae040\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6f8c5614 elementor-widget elementor-widget-heading\" data-id=\"6f8c5614\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">CNH<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6147ee9a elementor-widget elementor-widget-text-editor\" data-id=\"6147ee9a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p class=\"MsoNormal\"><span lang=\"EN-GB\">CNH had its best month appreciating more than 2% against the USD, back to a level last seen in mid-June. Several key factors contributed to this bull run for the CNH:<\/span><\/p><ul><li><span lang=\"EN-GB\" style=\"font-family: Wingdings; mso-fareast-font-family: Wingdings; mso-bidi-font-family: Wingdings;\"><span style=\"font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-variant-position: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: 'Times New Roman';\">\u00a0<\/span><\/span><!--[endif]--><span lang=\"EN-GB\">Chinese and US officials met during the third week of the month. According to historical patterns, the yuan always tend to rally soon after such meetings and this time was no different <\/span><\/li><li><!-- [if !supportLists]--><span lang=\"EN-GB\">During that same week, the PBOC announced a 600 billion liquidity programme<\/span><\/li><li><!-- [if !supportLists]--><span lang=\"EN-GB\">Chinese retail sales and industrial production data came out better than expected<\/span><\/li><li><span lang=\"EN-GB\" style=\"text-indent: -21pt;\">In a financial institution symposium held on the 17<sup>th<\/sup> of November the PBOC called on the banking system to provide support for the economy<\/span><\/li><\/ul><p class=\"MsoNormal\"><span lang=\"EN-GB\">It\u2019s worth noting that as year-end approaches, Chinese exporters will be withdrawing more funds back to mainland China which will continue to provide support for the yuan over the coming months.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-31faf833 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"31faf833\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-728963d8\" data-id=\"728963d8\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-26c9c42b elementor-widget elementor-widget-heading\" data-id=\"26c9c42b\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">THB<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-72ce2c elementor-widget elementor-widget-text-editor\" data-id=\"72ce2c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The baht is rebounding from its weak performance earlier this year, reaching a three-month peak of 34.67 against the US dollar. Anticipated to maintain its strength in the final month of 2023 due to seasonal trends, the baht typically experiences increased demand from the tourism and export sectors during this period, leading to currency appreciation.<\/p><p>In comparison with other regional currencies, the baht has exhibited a milder weakening against the dollar at 2.3% this year. It ranks third in terms of volatility at 8.9%, trailing behind the yen at 9.65% and the won at 9.59%. Notably, the Thai currency reached a 10-month high of 32.57 against the dollar on January 23 but subsequently declined to an 11-month low of 37.24 against the greenback on October 4.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7f5ffc2f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7f5ffc2f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2ec63c3a\" data-id=\"2ec63c3a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-aa9814 elementor-widget elementor-widget-heading\" data-id=\"aa9814\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">PHP<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2e337a2a elementor-widget elementor-widget-text-editor\" data-id=\"2e337a2a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p style=\"margin-right: 12.0pt;\"><span lang=\"EN-GB\" style=\"color: black; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;\">According to data from the central bank, the peso demonstrated strength in November, averaging P55.81 against the US dollar. This marks the lowest average since May when it traded at P55.73 to the greenback.<\/span><\/p><p style=\"margin-right: 12.0pt;\"><span style=\"color: black;\">The robust performance of the peso might have contributed to a slowdown in the country&#8217;s inflation rate, potentially reaching at least four percent in November, which is at the upper limit of the government&#8217;s target, as suggested by the Bangko Sentral ng Pilipinas (BSP).<\/span><\/p><p style=\"margin-right: 12.0pt;\"><span lang=\"EN-GB\" style=\"color: black; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;\">\u00a0<\/span><span style=\"color: black;\">B of A Securities (BofAS) predicts an appreciation trajectory for the Philippine peso, forecasting it to move from an expected rate of 55.8 against the US dollar at the end of this year to 55.1 by the conclusion of next year. Furthermore, they anticipate a further strengthening to 53.1 by the end of 2025.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-341c1f9 elementor-section-content-bottom elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"341c1f9\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-78c5d75\" data-id=\"78c5d75\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d2a64c6 elementor-widget elementor-widget-text-editor\" data-id=\"d2a64c6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><em>Disclaimer: This newsletter is to provide insight on the market and is not be to replied upon to be financial advice<\/em><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1a82361 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1a82361\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-dbb7361\" data-id=\"dbb7361\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4014310 elementor-widget elementor-widget-heading\" data-id=\"4014310\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Previous fx updates<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-fda453a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"fda453a\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-d33d5be\" data-id=\"d33d5be\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-bbff812 elementor-align-left elementor-widget__width-auto elementor-widget elementor-widget-button\" data-id=\"bbff812\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/www.worldfirst.com\/my\/fx-update-october-2023\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">October 2023<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7b44135 elementor-align-left elementor-widget__width-auto elementor-widget elementor-widget-button\" data-id=\"7b44135\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/www.worldfirst.com\/my\/fx-update-september-2023\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">September 2023<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-74cb21e elementor-align-left elementor-widget__width-auto elementor-widget elementor-widget-button\" data-id=\"74cb21e\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/www.worldfirst.com\/my\/fx-update-august-2023\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">August 2023<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1e7946e elementor-align-left elementor-widget__width-auto elementor-widget elementor-widget-button\" data-id=\"1e7946e\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/www.worldfirst.com\/my\/fx-update-june-2023\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">June 2023<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1afbcb7 elementor-align-left elementor-widget__width-auto elementor-widget elementor-widget-button\" data-id=\"1afbcb7\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/www.worldfirst.com\/my\/fx-update-may-2023\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">May 2023<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-0e68fbd elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"0e68fbd\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a016303\" data-id=\"a016303\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b52dbe3 elementor-widget elementor-widget-template\" data-id=\"b52dbe3\" data-element_type=\"widget\" data-widget_type=\"template.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-template\">\n\t\t\t\t\t<div data-elementor-type=\"section\" data-elementor-id=\"24375\" class=\"elementor elementor-24375\" data-elementor-post-type=\"elementor_library\">\n\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6fda2385 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6fda2385\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2155e501\" data-id=\"2155e501\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-70f742a3 elementor-widget elementor-widget-heading\" data-id=\"70f742a3\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Businesses Trust WorldFirst<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-612911bb elementor-widget__width-initial elementor-widget-mobile__width-initial elementor-align-center wf-body01-font elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"612911bb\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<link rel=\"stylesheet\" href=\"https:\/\/www.worldfirst.com\/app3\/plugins\/elementor\/assets\/css\/widget-icon-list.min.css\">\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Almost 1,000,000 business have sent $200B around the world with WorldFirst and its partner brands since 2004.<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-782fb8bf elementor-widget elementor-widget-image\" data-id=\"782fb8bf\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1536\" height=\"520\" src=\"https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/10\/2023\/11\/Graphic_03_A-million-reasons-to-trust-WorldFirst-1536x520.png\" class=\"attachment-1536x1536 size-1536x1536 wp-image-24374\" alt=\"\" srcset=\"https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/10\/2023\/11\/Graphic_03_A-million-reasons-to-trust-WorldFirst-1536x520.png 1536w, https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/10\/2023\/11\/Graphic_03_A-million-reasons-to-trust-WorldFirst-300x102.png 300w, https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/10\/2023\/11\/Graphic_03_A-million-reasons-to-trust-WorldFirst-1024x347.png 1024w, https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/10\/2023\/11\/Graphic_03_A-million-reasons-to-trust-WorldFirst-768x260.png 768w, https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/10\/2023\/11\/Graphic_03_A-million-reasons-to-trust-WorldFirst.png 1920w\" sizes=\"(max-width: 1536px) 100vw, 1536px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-30dc823 elementor-widget elementor-widget-heading\" data-id=\"30dc823\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">WHAT OUR CUSTOMERS SAY<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b4dc899 elementor-widget elementor-widget-global elementor-global-1282 elementor-widget-html\" data-id=\"b4dc899\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<!-- TrustBox script -->\r\n<script type=\"text\/javascript\" src=\"\/\/widget.trustpilot.com\/bootstrap\/v5\/tp.widget.bootstrap.min.js\" async><\/script>\r\n<!-- End TrustBox script -->\r\n\r\n<!-- TrustBox widget - Carousel -->\r\n<div class=\"trustpilot-widget\" data-locale=\"en-AU\" data-template-id=\"53aa8912dec7e10d38f59f36\" 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GBP In what has been a welcome relief for foreign currency buyers in the UK, the pound has rallied back against the euro and dollar through the tail end of November and [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.2 (Yoast SEO v24.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>October 2023 FX market update | Foreign exchange news | WorldFirst MY<\/title>\n<meta name=\"description\" content=\"Our monthly FX market update keeps you updated on the latest market movements for the major currencies\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.worldfirst.com\/my\/fx-update\/\" \/>\n<meta property=\"og:locale\" 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