Currency markets remain quiet during Christmas

Pound/Sterling forecast

Good morning. As you might expect, the currency markets have been very quiet this week during the Christmas holidays. GBP/EUR remains low at just below €1.11. Against the US Dollar, the Pound is also still low at the $1.2630 mark.

Markets open again in the UK today however there is little in the way of economic data that is likely to move rates. Similarly the UK government are on holiday so there is likely to be little from Brexit world to effect the Pound either. For these reasons we expect a flat market for the rest of this week.

This afternoon we’ll see some jobless numbers from the USA that could move GBP/USD rates. Tomorrow sees UK Mortgage approvals that could affect Sterling. Next week is also rather quiet so things won’t really get going until the 7th of January 2019.

We will be open and available to provide quotes and international payments, so get in touch if you need this service. We’ll be back in action next week to re-commence our regular daily updates on Sterling exchange rates.