Well what a week it has been in Parliament. As one of our clients have put it, “it’s like a bad Shakespearean play!”
GBP & EUR
Whilst retail sales this morning has been exceptional it has been largely overshadowed by the uncertainty we are witnessing in Parliament. If things continue in the same way expect GBP to steadily weaken throughout the remaining days of our year and through Q1 next year. Until we see anything certain from Parliament it is going to be much the same this end unfortunately. Banks are now predicting a hard Brexit at this rate.
Looks like the FED have listened to Trump and eased up their interest rate hike predictions for 2019. However the USD is still deemed a safe haven as per our previous blogs which is still the reason we are still teetering around 24 months lows on GBPUSD, with it set to move further South as per the above.
Have a good day, hopefully you’re all winding down for Christmas!
PS – We will be open as per usual, finishing around midday on Christmas Eve