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15 January 2019
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…
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.
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.
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.
At Currencies Direct we’re here to talk currency whenever you need us, so get in touch if you want to know more about the latest news or how it could impact your currency transfers.
Since 1996 we’ve helped more than 250,000 customers with their currency transfers, just pop into your local Currencies Direct branch or give us a call to find out more.
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