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 :) 

 

 

 

Upcoming Data

 

 

Thursday, 26th December, 2019


12:00 US - Mortgage applications
13:30 US - Jobless claims


Friday, 27th December, 2019


09:00 EU - ECB publishes economic bulletin
09:30 UK - Loans for house purchases 
  

 
 
 



Dan Waterman
Office Manager

 
 
 


 

 
Image Image
Governing Bodies and Registrations

Excel Currencies are a fully Authorised Payment Institution with the UK Financial Conduct Authority. ( Ref: 911228) and HM Revenue & Customs (MSB No: 12190705) as a Money Services Business. Excel Currencies ltd are also members of the UK Money Transfers Association (MTA) and the Association of International Property Professionals (AIPP).

Security of Funds

Excel Currencies ltd operate a Safeguarding Client Account System which protects all funds in these accounts against any liabilities that Excel Currencies ltd may have.

Excel Currencies Ltd, Enterprise House, 8 Essex Road, Dartford, Kent DA1 2AU

Registered in England and Wales, No. 05171054

Copyright © Excel Currencies Ltd 2020. All Rights Reserved.

Help Options Available

Contact Us

Live Chat OFF Live Chat ON