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Since the beginning of the year we have seen sterling make some quite impressive gains against the majority of major currencies. The question is, are sterling’s gains set to continue?
By Daniel Johnson
GBP/EUR did reach as high as 1.18 on bank holiday Monday, but GBP/EUR has since started to stabalise around the 1.15 mark.
The pound has made impressive gains against the majority of major currencies since the beginning of the year.
GBPEUR rates continue to rise after Prime Minister Boris Johnson announced yesterday the success of the Covid vaccine programme.
There are many economists who are predicting a rough year for sterling. HSBC for example have a very pessimistic outlook.
Sterling is in an extremely fragile position following Boris Johnson’s announcement on Saturday that many areas of the UK would be placed into Tier 4 lock down.
Sterling continues to remain fragile predominantly due to the lack of clarity surrounding Brexit.
Today, the Bank of England held its interest rates steady at 0.1% and have announced a further £150bn of support for the economy.
As Brexit negotiations continue, fishing right is proving to be a major sticking point for progress on a Brexit trade deal.
In this article, Daniel Johnson details how Brexit negotiations are progressing and the likelihood of a deal.
Sterling continues to show its weak performance as Commerz Bank Predicts new lows for GBP if the UK leaves the UK without a deal.
The Pound could be in for rough ride short to medium term. It is not only the pandemic it has to contend with but also the small matter of Brexit.
On Thursday, PM Boris Johnson will address the nation on the latest meausres to be taken by the government on the Coronavirus pandemic.
GBP remains volatile as Brexit draws near and the coronavirus epidemic continues to spread around the globe.
Sterling slumped in value against the euro as coronavirus causes global stock markets to crash, could there be further losses ahead?