- Two-day ban on all accompanied freight.
- Brexit talks miss another deadline, just 10 days to go to Hard Brexit.
The Pound to Euro exchange rate is -0.97% lower @ €1.08676 on 21.12.2020
The Pound to Dollar exchange rate is -0.97% lower @ $1.32713 on 21.12.202
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Pound Sterling (GBP) Exchange Rates
The Pound to Dollar exchange rate (GBP/USD) suffered a substantial loss at the start of the week, dropping 1.3% to the middle of the 1.33 handle. Now some way off its recent peak above 1.36, a vulnerable looking Sterling has snapped lower amid a flurry of negative headlines over the weekend.
EUR/USD Breaks Long-Term Downtrend Above 1 1500: Rabobank Analysis
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Brexit: Latest Deadline Fails To Break Fishing Deadlock, UK Gov Rejects Transition Extension
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Uncertainty over the fate of the Brexit process was already weighing on the Pound, before concerns over a new strain of coronavirus Covid19 in the UK weighed heavily on the British Pound to Australian Dollar (GBP/AUD) exchange rate.
While this news is hurting the Pound Sterling (GBP) most, it is also weighing on market risk sentiment and causing the Australian Dollar’s (AUD) recent bullishness to slow.
Last week saw
According to Lee Hardman, Analyst at MUFG Bank:
‘It will increase pressure on the government to roll out vaccines to the old and vulnerable more quickly in a race against time. The new tougher restrictions will likely have to remain place until there has been greater vaccine rollout which could take months. At the current juncture, we are working on the assumption that vaccines will still prove effective against the new strain but it is not yet clear. As a result, the economic slowdown willprove deeper and extend further into nextyear. It will dampen optimism