Read the story here. Advertise at Before It's News here.
Profile image
By Pound Sterling Forecast (Reporter)
Contributor profile | More stories
Story Views
Last hour:
Last 24 hours:

Pound Sterling Exchange Rates Drop as No Deal Brexit Chances Heighten

% of readers think this story is Fact. Add your two cents.

GBP has had a bad start to the trading week against all major currencies, with pound to euro exchange rates hitting a 2 ½ month low and the pound having also dropped at least 1% against all other major currencies at the time of writing.

It does feel that sentiment has turned in the favour of no deal Brexit and there were various reports this morning suggesting that UK Prime Minister Boris Johnson was ready to walk away from the trade talks and push on with no deal.

Whether or not this is political posturing and more of a plan to get the EU to back down and make concessions on the sticking points that remain is yet to be seen, but it does once again highlight just how fragile sterling exchange rates are at present and how just a little piece of news can have a large impact on the value of the pound.

What Could Influence GBP/EUR Rates Ahead?

The next few weeks will likely be key for sterling’s short to mid-term performance and sentiment seems to be on a knife edge, so if you have a large currency position involving wither buying or selling the pound it really is important to be ready to act swiftly should an opportunity present itself or the market takes a sharp downturn.

Later on today Boris Johnson is due to have a phone call with Ursula von de Leyen and expectations are that the two will agree that talks can continue until Wednesday but after that if no agreement has been made then this will be the final cut off point and at this stage preparations will be made for a no deal Brexit.

We have had a number of deadlines that have all been broken over the past few weeks, but realistically there are only 24 days before December 31st so for any deal to be ratified and pushed through there will need to be ample time to carry out the process and the clock is well and truly ticking already.

With all of this in mind it is expected that this week could be full of volatility and the spotlight for sterling exchange rate performance will be firmly placed on what happens between the UK and EU negotiating teams.

If you have an upcoming currency transfer or you would like to learn more on the factors impacting GBP to EUR exchange rates, feel free to contact me directly using the form below.

The post Pound Sterling Exchange Rates Drop as No Deal Brexit Chances Heighten appeared first on Pound Sterling Forecast.


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!

Order by Phone at 888-809-8385 or online at M - F 9am to 5pm EST

Order by Phone at 888-809-8385 or online at M - F 9am to 5pm EST

Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse


    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    Load more ...




    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.