Sterling hits 1-month low

Hi everyone,

So the December volatility continues for the Pound as it now reaches a 1-month low across the board. The main reason for the decline is because Boris Johnson has began the process of prohibiting an extension to the Brexit transition period. 

The market is concerned that the PM's approach is risky and puts a no-deal Brexit firmly back on the table. Currently, the transition process takes us up until the end of 2020. Boris wants a trade deal negotiated within this time or we default to the WTO terms (bad for the £).

The 'Boris bounce' initially went exactly as expected, but the days and comments that followed, firmly put Sterling back in its place of uncertainty. The Withdrawal Agreement Bill passed the first round of voting easily Friday and the Queen is set to ratify on January 9th. 

Lastly, please see below our working hours this week - 

Monday 23rd 9am-3pm
Tuesday 24th 9am-1pm
Wednesday 25th CLOSED
Thursday 26th CLOSED
Friday 27th 9am-3pm

Happy Christmas from all of us here at Excel Currencies :) 




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Thursday, 26th December, 2019

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Friday, 27th December, 2019

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Dan Waterman
Office Manager



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