Pound slips to two week low
The Pound slipped to a two-week low versus the Euro last week, and fell back to 1.31 interbank against the US Dollar as the reality of a potential hard Brexit at the end of 2020 sank in. Boris Johnson has stated he won’t ask for an extension to prolong trade talks beyond December 2020, meaning should a deal not be reached, Britain would be subject to World Trade Organisation trading terms. The Pound has been under pressure with the prospect of another year of Brexit uncertainty ahead.
There’s limited economic data out to create significant exchange rate movement in the weeks ahead, but there are a few moderate to highly influential stats scheduled for release.
Data to note:
CAD – Gross Domestic Product
USD – New Home Sales
USD – Chicago Fed National Activity Index
Tuesday 24th December
USD – Durable Goods Orders
Monday 30th December
EUR – German Retail Sales
USD – Advance Goods Trade Balance