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    Brexit chaos results in dramatic swings in 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

    The pound has found itself the biggest mover and shaker in currency markets over the past couple of weeks as Brexit continued to dominate investor attention.

    This has seen GBP/EUR jump between 1.15 and a 21-month high of 1.17 before settling at 1.16, while EUR/GBP dipped from 0.86 to 0.85.

    Meanwhile, GBP/USD has climbed from 1.30 to 1.32, while EUR/USD has ticked up from 1.12 to 1.13.

    What’s been happening?

    The pound has been on a rollercoaster ride through March, experiencing wild swings as Brexit developments unfolded.

    Driving movement in the euro has been another run of lacklustre Eurozone data and the European Central Bank’s announcement that interest rates would remain on hold through 2019.

    Meanwhile a dovish turn by the Federal Reverse dented the appeal of the US dollar.

    The Fed recently indicated that it may leave interest rates on hold this year.

    What do you need to look out for?

    Unsurprisingly Brexit will remain the key catalyst for movement in the pound over the next few weeks, likely overshadowing any UK economic data and driving further volatility.

    At the same time, we may see some upside in the euro in the coming weeks as economists forecast that the Eurozone data will begin to show signs of recovery.

    Finally, for USD investors the focus is likely to be back on the latest round of US-China trade talks amidst hopes the two countries may be close to finalising a trade deal.

     

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