Sterling starts the week exactly where it began last Monday against both the euro and US dollar. Which, considering the week we’ve just had in politics and the Covid-19 saga you might think isn’t too bad.
Indeed, GBP/EUR is also precisely where it was a month ago, despite being nearly 2% off its late-November peak.
The picture could change drastically over the next few days, however, in what will be a very busy week for economic data and, hence, for sterling volatility.
There is something to keep the markets on their toes every day from tomorrow with employment and earnings, then inflation (Wednesday), Markit PMI (Thursday) and the Bank of England’s interest rate decision also on Thursday. Retail sales ends the week on Friday.
And that’s only in this country. We have an interest rate decision in the US too.
So, maybe not a bad time to clear the decks and get ready for Christmas and the New Year.
I notice from the BBC weather app that the evenings have reached their darkest, with sunset at 3.54pm in West London this afternoon. Mornings continue to get darker for another couple of weeks, but before we know it summer will be here and our trading team will be being thrashed by the marketing and compliance teams at rounders in Ravenscourt Park, nearby.
If you’re also already thinking ahead to a glorious spring and summer, why not lock in this morning’s excellent rate with a forward contract? Then you can plan for a brighter 2022 secure in the knowledge that you have a rate several percent better than this time last year and the past five years’ average.
Call your trader on 020 8108 5337 to do that.
Best wishes
