With everyone more focused on turkey and crackers than the currency market, last week was fairly limited in terms of exchange rate movement
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Weekly Market Analysis January 2nd 2018 |
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UK wage outlook keeps GBP on soft form, poor data weakens USD With everyone more focused on turkey and crackers than the currency market, last week was fairly limited in terms of exchange rate movement. But 2018 is now upon us and it’s back to business as usual. The pound is on mixed form today, with GBP/EUR having fallen -0.3% to €1.1221 while GBP/USD has risen 0.3% to US$1.3550. Although things may have quietened down over the festive period, the pace of economic releases quickly gets back up towards full speed this week. |
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Today's Rate The rates above are using the British pound (GBP) as the base rate. All rates are for indication purposes only. Prices can vary dramatically based on amount and delivery date. |
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| | "The pound Sterling to euro exchange rate spent the last seven days fluctuating within a range of about half a cent, failing to break above €1.13" Transfer 24/7 with our currencies direct app |
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GBP supported by progress in Brexit talks, but pay forecasts for 2018 cause jitters Some concerns about the UK economy heading into 2018 have weighed on the pound over the past few days, with Sterling also suffering from a comparative lack of data from the UK. |
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EUR inches higher as Eurozone inflation data firms The latest Eurozone data gave markets reasons to be cheerful last week, although many investors were focusing on the long-term challenges 2018 is likely to bring. |
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Continued doubts over Trump’s tax reform plans weigh on USD The US dollar saw steady losses during the period between Christmas and New Year, thanks to a combination of poor economic data and market doubts over the policies of President Donald Trump. |
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AUD, NZD benefit from weak USD demand ahead of New Year The latest disappointing US data releases helped the Australian dollar and New Zealand dollar to make several advances during the period between Christmas and New Year. |
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