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Currency News - Jan 11th 2019

Currency updatePound could fall as Brexit vote looms - 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
Thin trade and the absence of any notable Brexit developments helped the pound to strike slightly higher in late December, before stalling again at the beginning of 2019.
This saw GBP/EUR trade between 1.10 and 1.11, while EUR/GBP held at around 0.90.
Meanwhile, GBP/USD climbed from 1.25 to as high as 1.28 before falling back at the start of 2019, while EUR/USD pushed from 1.13 to 1.14.

What’s been happening?
The pound drifted higher at the very end of 2018, with a lull in negative Brexit headlines allowing the currency to exploit the weakness in some of its peers, although this failed to carry over into the start of 2019.
The euro faced some setbacks in the latter half of December, meanwhile, with the Eurozone’s latest PMI revealing growth in the bloc’s private sector struck a four-year low in December.
At the same time the US dollar has softened in the last couple weeks of December as a US government shutdown spooked USD investors.

What do you need to look out for?
After being delayed back in December, a parliamentary vote on Theresa May’s Brexit deal is scheduled to finally take place on 15 January and is sure to prompt some significant volatility in the pound if the deal is rejected, as many observers predict.
Meanwhile EUR exchange rates are also likely to be impacted by the outcome of the upcoming Brexit vote, although likely to a lesser extent than Sterling.
Finally, fears of a slowdown in global growth helped the US dollar get off to a strong start in 2019, a trend that may persist if evidence of an economic downturn continues to build.

At Currencies Direct we’re here to talk currency whenever you need us, so please get in touch if you want to know more about the latest news or how it could impact your currency transfers. Since 1996 we have helped more than 250,000 customers with their currency transfers, so why not call in into our local Currencies Direct branch in Almancil or give us a call to find out more.

For more detailed information, please contact Chantelle at the local office on 00351 289 395 739 or alternatively visit the website on www.currenciesdirect.com/portugal and register to get regular updates on the currency markets.

T 00351 289 395 739
M 00351 912 510 121
E jose.a@currenciesdirect.com
W www.currenciesdirect.com/portugal

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