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Currency News - Feb 11th

Currency update

Renewed risks of no-deal Brexit weakens Sterling - 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
After soaring at the start of the year, the pound found itself in reverse gear in the past couple of weeks on the back of renewed Brexit uncertainty.
This has seen GBP/EUR retreat from a 19-month high of €1.16 to €1.14 and allowing EUR/GBP to rebound from £0.86 to £0.87.
Meanwhile, GBP/USD has tumbled from $1.32 to $1.39, while EUR/USD slipped from $1.14 to $1.13.

What’s been happening?
The pound has found itself in a tailspin over the past couple of weeks, with Sterling’s appeal being eroded by heightened Brexit uncertainty as well as some lacklustre PMI figures.
The euro has also had a bit of a rough time in recent weeks, with the single currency being softened by concerns over growth in the Eurozone amid signs parts of the blocs are stagnating.
Meanwhile a dovish policy meeting from the Federal Reserve undermined the US dollar at the start of February, limiting the gains from some robust payroll figures at the start of 2019.

What do you need to look out for?
The pound looks set to become increasingly volatile over the next couple of weeks as the uncertainty surrounding Brexit looks to become increasingly damaging for Sterling the closer we get to the UK’s exit date on 29 March.
In the meantime, the focus for EUR investors will be the release of Germany’s latest GDP figures as they learn whether or not the country fell into a recession at the end of 2018.
Finally, the US is likely to face another government shutdown in February, potentially limiting the appeal of the US dollar going forward.

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

Currencies Direct - Ave 5 de Outubro, No 246, Almancil, Portugal, 8135-103

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Comments  

+2 #1 Chip 2019-02-12 14:37
Between the "€1.16 to €1.14 " it dipped to under 1.11. It climbed back when No Deal became a probability.

But you can fiddle statistics any way you like to prove a point.
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