Votes are in – albeit still being counted, will Donald trump Joe?
4 November, 2020
This week sterling seems to be doing fairly well against its majors and yesterday we saw the rates break through key resistance levels against the Euro and Dollar providing some much needed relief for those with Sterling in hand looking to make an exchange. Gaining just over half an cent on the Euro and almost a cent on the US Dollar. Very surprising given the current events of the UK due to enter a fresh national lockdown and Brexit talks still being deliberated. However, much of the USD improvement formed as the Dollar remained under pressure while markets repositioned awaiting the outcome of the election.
And speaking of… the US elections is drawing to a close! In what has certainly been a highly divisive presidential campaign, with not only the usual cat calling and campaigning, between Republican Donald Trump and Democrat Joe Biden, Americans also had to contend with the increasing uncertainty of a global pandemic, but the votes are in and today we wake up to news of both candidates claiming wins across various states but the core swing vote states are yet to be announced.
At time of writing Florida and Pennsylvania have yet to reveal their votes and as it stands at present Biden is ahead in the electoral college with 220 of 270 over Trumps 213. Now very much down to the wire, we can still face a couple more days of counting votes so we wait to see who will be taking the keys to the White House, as well as the aftermath to follow!
Brexit talks continue although it’s now reported we could see a decision on a post-brexit trade agreement made by the middle of the month. Talks so far seem to be fairly secretive and although its seems they are still in disagreement over fishing rights, it has been reported that both sides have signalled readiness to compromise. So, it continues and it’s just another major event to navigate over the coming months, which can still have a significant affect on exchange rates.
If all the above wasn’t enough, MP’s in the UK are in the house today casting votes to place the UK in a new national lockdown set to start tomorrow. Another lockdown will inevitably have a damaging effect on the economy, but what it will do to exchanges rates at this point is unknown.
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- Brexit deal to be done, or going, going, gone? 25 November, 2020
- Sterling starts the week down from the highs of last week 16 November, 2020
- Votes are in – albeit still being counted, will Donald trump Joe? 4 November, 2020
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