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 continued to give up ground in the past couple of weeks, with another delay to Brexit failing to energise Sterling due to concerns over prolonged uncertainty.
This has seen GBP/EUR slip from €1.16 to €1.15, and pushed EUR/GBP up nearer to £0.87.
Meanwhile, GBP/USD has fallen back from $1.30 to $1.29, while EUR/USD is left at $1.12, despite briefly reaching $1.13.
What’s been happening?
While the UK may have avoided a no-deal Brexit this month, the prospect of another six-months of uncertainty and some mixed UK data has left the pound on the defensive.
Meanwhile, trade in the euro has been mixed in the past couple of weeks, with the single currency relinquishing its initial gains after some gloomy Eurozone PMI figures stoked fears the bloc could face a recession this year.
At the same time, after initially being clipped by improved risk appetite, the US dollar leapt back to life in mid-April on the back of some robust US economic data.
What do you need to look out for?
While Brexit will remain a priority for GBP investors, expect to see Sterling increasingly influenced by UK economic data in the coming weeks as the immediate threat of the UK crashing out of the EU fades.
In addition to the latest Eurozone data, the euro is likely to become increasing politically sensitive as we near the European elections in a month’s time.
Finally, the outlook for the US dollar will likely depend on the outcome of US-China trade talks, with USD likely to relinquish ground again if it looks likely the two powers are able to finalise a deal.
Our friends at Currencies Direct
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