Currency update from Currencies Direct - Costa Del Sol

  • Brexit delay report offers support to Sterling

    Staying on top of the latest currency news can help you time your transfers more effectively, so find out what you should be looking out for over the next couple of weeks…

    Latest currency news

    Brexit continues to dominate the Pound this year, with Sterling climbing on the back of some positive developments.

    This saw GBP/EUR rise from €1.10 to €1.12, while EUR/GBP has fallen from £0.90 to £0.89.

    Meanwhile, GBP/USD climbed from $1.26 to $1.28, while EUR/USD held at $1.14.

    What’s been happening?

    So far the pound has enjoyed two weeks of consecutive gains in 2019, with Sterling bouncing back from initial losses both weeks – its most recent rally being driven by speculation Brexit may be delayed

    Trade in the euro meanwhile has been mixed over the past couple of weeks, with some lacklustre data from the Eurozone stoking fears that some members may have entered a recession in the fourth quarter.

    At the same time the US dollar has found itself on the back foot so far in 2019 as signals from the Federal Reserve which suggest it may adopt a more cautious approach this year have limited the appeal of USD.

    What do you need to look out for?

    The upcoming parliamentary vote on the EU withdrawal deal looks set to dominate the pound, with analysts expecting some considerable volatility in GBP exchange rates in the weeks to come if the deal is rejected, as is widely forecast.

    Meanwhile EUR investors are likely to pay extra close attention to the economic data coming out from the Eurozone over the next couple of week as they look for any additional signs that the bloc may be experiencing a downturn.

    Finally, in the face of the ongoing US government shutdown, US data is looking pretty thin on the ground this month, potentially limiting movement in the US dollar.

     

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