Gray Structure

11th December 2020


Against the US Dollar

On Monday, the pair opened at 1.3440 plummeting lower after the Brexit news over the weekend. The pair went down to three-week lows of 1.3225 after the Sun newspaper reported that PM Boris is ready to pull out of Brexit talks, if the EU refuses to budge from their eleventh-hour demands. The UK also added that Brexit talks were likely to end on Monday, but the Pound managed to recoup some of it's losses in the afternoon bringing the price back above 1.3400. Mid-week, the UK announced they had clinched a deal with the EU, seeing GBP reach 1.3475 but failed to keep these levels, seeing prices fall back lower to the 1.3300 region. As of this morning, Sterling has had more no-deal Brexit feels, seeing GBP down to three-week lows of 1.3205.

Against the Euro

On Monday, the Euro opened at 1.1060 seeing that negative drop after the weekend "no-deal" Brexit news. The price hit 1.0940, (6-week lows) but GBP managed to recoup it's losses back to 1.1050. The big news of the week was Boris's trip to Brussel's where he met EU President Ursula von der Leyen which ended with no apparent progress. This placed more pressure on the Pound, seeing current the rate at 1.0885

Brexit, Covid & Economic Data

- If you have US Dollars or Euros to buy or sell please contact the desk. It's important to try and get the timing right with the Pound being very volatile, our desk can try and support to the best we can.

- On going meetings/negotiations with the UK & EU will fluctuate the Pound.

Please note, this can cause a negative impact for Sterling.


Next week​

14th December - 18th December 2020


10:00 EU CPI


07:00 UK Claimant Count Rate
07:00 UK ILO Unemployment Rate
07:00 UK Average Earnings 
14:15 US Industrial Production


07:00 UK Consumer Price Index
07:00 UK Retail price Index
07:00 UK Producer Price Index
08:30 EU German Markit Manufacturing
09:00 EU Markit Manufacturing PMI
09:00 EU Markit PMI Composite
09:30 UK Markit Manufacturing PMI
10:00 EU Labour Cost


12:00 UK BoE MPC Vote Unchanged
12:00 UK BoE MPC Asset Purchase
12:00 UK BoE MPC Vote Cut
12:00 UK BoE Minutes
12:00 UK BoE Interest rate Decision 
13:30 US Building Permits
13:30 US Housing Starts
13:30 US Initial Jobless Claims


07:00 UK Retail Sales
07:00 EU German Producer Price
09:00 EU German IFO's


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