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Currency Updates

Sterling trades around three month low on ‘hard Brexit’ concerns

T

he Pound steadied itself around its lowest level against the US Dollar since the surprise ‘flash crash’ in October on Monday.

Written by

Matthew Ryan

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Sterling once again traded almost entirely driven by the Brexit developments. The Pound fell to its lowest level in 10-weeks against the USD.
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The most traded currency pair in the world, EUR/USD, had a mixed Thursday with Euro surging to its three weeks high against USD.
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After falling to a fresh 14 year low against the US Dollar on Tuesday the Euro managed to recover some of its losses and trended upwards.
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The Euro fell to a fresh 14 year low against the US Dollar on Tuesday, which showed broad strength against its major peers during early afternoon trading.
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FX markets were for the most part quiet during the holiday weeks. The only exception was a short-lived pop in the Euro on 30 December.
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The USD retreated from its 14 year high against its trade-weighted basket of currencies on Wednesday, although appreciating almost 5% since November.
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Comments from Chair of the Federal Reserve Janet Yellen on Monday evening kept the US Dollar well supported for another day.
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December 2016 has been one of our busiest and most exciting months in terms of business expansion. We have opened two new corporate offices.
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