US$ -  £     1.4160

£ -  €         1.2990

€ - US$      1.0900

IR – US$    68.13

RMB - US$  6.5765

Over the course of last week, the US Dollar strengthened against a range of currencies – particularly those of emerging markets – although the US Dollar/Chinese renmimbi rate was essentially stable. The trend of a generally strong Dollar is expected to continue for some time yet: after a decline of 5.75% over the last year, renmimbi speculation appears to be moving to the forward market arena, with the Chinese currency quoted at 6.90 to the Dollar 12 months forward.

This represents a depreciation of a further 4.9% over today’s rate.  Although China’s growth rate for the fourth quarter of 2015 slowed to 6.8%, the slowest pace for 25 years, it nevertheless  triggered a 3% rally in Chinese stock markets on Tuesday, 19th January 2016 amid expectation of further stimulus measures being introduced by the government. Today, however, the Chinese stock market rally proved to be short-lived with a 2% decline in the main Shanghai index, although this was nothing when compared to the declines seen in Europe.  However, what appears NOT to be fully discounted in the overall FX markets – at least yet - is the growing tension in the Middle East between Saudi Arabia and Iran. What has driven – and to a great extent still drives – the FX markets are the twin forces of China and the slumping price of oil, now well below US$ 30/barrel. Today (20th January) has seen a marked decline in Sterling against both the Dollar and Euro as a result of Mark Carney’s comments yesterday that any interest rate rises will need to be postponed in view of the uncertainties surrounding global economy. 

 

Almond Milk
FDL have sites all over the world including the UK, USA, India & China. We also have a strong portfolio of suppliers from every continent of the ...
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Amino Acids
High specification fine and bulk Amino Acids to the Reaction Flavours, Pet Food, Bakery, Sports Nutrition and Personal Care Industries.   Our ...
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Aroma Chemicals
Used globally in a wide range of consumer products ranging from Shampoo, Toiletries, Toothpaste, Mouthwash, Confectionery, Chewing Gum to some sweet ...
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Beverage Syrups
Milk Shake Syrups Available in 9 flavours. Suitable for use with ordinary Milkshake machines and thick-shake machines.   Slush Syrups Available ...
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Energy & Fortification
Energy and nutritional blends to suit many applications. We can supply raw ingredients, create powder blends or help you develop a brand new ...
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Flavourings & Colours
Providing high quality, cost effective flavourings (including Natural, FTNF (From The Named Fruit) and NI (NatureIdentical)) flavours and colours ...
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Honey
Offering a complete range of monofloral and polyfloral varieties plus specialist Honey related products sourced from each of the world’s producing ...
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Juices & Juice Blends
More than 45% of the Juices we supply are tailor-made to clients’ specific requirements. By combining not only Juices, but Aromas, Sweeteners, ...
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Preservatives & Acidulants
Fuerst Day Lawson’s broad portfolio of Food and Beverage Ingredients would be incomplete without our range of Food Preservatives. Our expertise ...
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Seeds & Grains
Fuerst Day Lawson supplies a wide range of Bakery Seeds, Dried Fruits and Pulses, including Custom Mixes and Blends, to the Baking, Health Food, ...
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Sweeteners & Sugars
 FDL has many years of experience in Sweetener systems development involving combinations with other high intensity and calorific ...
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About FDL

 

FDL is a leading global supplier of specialist ingredients to the Food, Beverage, Fragrance and Chemical industries.

 

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Contact Us

FDL Head Office
Devon House
58 – 60 St Katharine’s Way
London
E1W 1JP
United Kingdom
 
Tel: +44 (0) 20 7488 0777
Fax: +44 (0) 20 7265 5285
fdlgroup@fdl.co.uk