Yet another new month! December can sometimes be a little less volatile as concentration moves towards Christmas and holidays. However the new Omicron strain may have a different story attached to it so let's see if normality plays out this month.
There has been a modest move to the upside for GBP versus the Euro overnight. With very little data out or market driving news stories this appears to be a technical move rather that a return to strength at this stage. Rates rarely move in a straight line. If the dominant, short term weakness for the Pound prevails we would expect these small bounces along the way.
Overnight the Pound also touched 12 month lows versus the Dollar which is a pattern that might well continue going forward as traders take a risk off approach around Omicron.
The Swedish Krona has found it's feet versus the Euro and the Pound also in the past few sessions which seems to have halted the downward trajectory it was suffering from previously.
The Pound still looks good against the Australian Dollar. However the nice uptrend has faltered a little and we are now seeing more of a plateau as things stand.
Looking ahead it's a speech by the Bank of England's Governor and The FED's Jerome Powell testifying to congress that could move things. Sandwiched between these is the ADP Employment figures from the States.
As ever we look forward to keeping you in the loop and look out for our next update.
Our friendly currency experts are here to assist you and guide you through the markets, we offer a first-class service and even an online platform so you can monitor your transaction in real time.
Our business ethos is based on bank beating rates and fantastic customer service, click the link below for a no obligation quotation and see the savings for yourself.
Today’s Economic Calendar
UK: BoE's Andrew Bailey speech
US: 14:15 ADP Employment change
US: 16:00 FED's Powell testifies to Congress
© 2022. RegencyFX Ltd. All rights reserved. *Third party fees may apply.
Payment services for RegencyFX Ltd are provided by The Currency Cloud Limited. Registered in England No. 06323311. Registered Office: The Steward Building 1st Floor, 12 Steward Street London E1 6FQ.
The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199). In the US Currency Cloud operates in partnership with CFSB. CFSB fully owns the bank program and services are provided by The Currency Cloud Inc.