Market insights

Market Comment - 31st December 2021

Good morning,

This is the last market comment of 2021 and we would like to wish everyone a prosperous New Year.

Back to business. The GBP/EUR rate remains firmly entrenched in the resistance zone. Technically the rate should drop from here from a statistical viewpoint. However that's not how the markets are necessarily operating at the minute. With traders thin on the ground today it wouldn't take much to make the rate break out to the upside. It will be an interesting day.

Against the Dollar the rate has been moving sideways in a very tight range for the last few days so expect much of the same today.

It's the same story against the other majors. We know it's boring to say, but it's only an Omicron news story that's going to affect things until next week.

There's no scheduled news out, as to be expected, as nations move into New Years Day at different UK times throughout the day.

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.

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