Exchange rates remain stable as Christmas draws in

19 December, 2017

Grace Rae

With Christmas now only around the corner the markets have started to free itself from the usual economic data releases which historically drive and move the currency markets and as is often the case, things have begun to quieten down and as a result we have seen the currency linger in its current position for a week or so now. It’s likely that these current exchange rates will stick around, although any Brexit news or political uncertainty could throw in some movement.

With no major events set today, tomorrow’s speech by BoE Governor Mark Carney and Catalan’s regional election vote on Thursday both have the potential to throw in some movement for GBP-EUR so these could be events to watch out for this week. With the current rates not far off from the best we have seen in 6 months, if you have a requirement due in the coming weeks or indeed early part of the new year then now is a good a time as ever to get some funds secured.

Give us a call today to discuss the different ways we can help you secure your transactions. You can set a best or worst case rate for your transaction with a Limit or Stop Loss order or buy your currency at today’s rates for the months ahead with our forward contracts. Meaning you can fully enjoy your turkey with all the trimmings, mulled wine and the New Year festivities knowing that your currency requirement is secured and unaffected by any pesky potential downside movements over the Christmas holidays.