Good morning,

As we enter the final days of the month, the pound seems to be holding its own against most major currencies with the current risk on sentiment in the market, meaning GBP has been able to capitalise. Against the dollar, sterling is still holding to the 1.37 price mark, as investors leave the safety of the global reserve currency. However, against the euro, prices remain supressed under the 1.1280 mark.

Vaccinations across the UK appear to be on track to meet the Government’s own deadlines, but attention will swiftly turn to which demographic of UK citizens will be next in line for their Covid jabs. The US will also begin to ramp up their vaccination rollout, as new President Joe Biden pledged to vaccinate 100 million within his first 100 days in office.

The new mutation of Covid is starting to put fears into nations globally however. There is tighter policy on travel with the UK and the US banning flights from South Africa because of the more contagious strain. Even New Zealand, a country which had reported no new cases for months, have reported a positive case of a citizen returning to the country on the 30th December. With the new mutation and nervousness, markets could look to return to safety assets, leaving currency buyers to suffer as we saw in March 2020.

Have a great day.

Jack Nicholls, Relationship Manager.

Whilst every effort is made to ensure the information published here is accurate, you should confirm the latest exchange rates with WorldFirst prior to making a decision. The information published is general in nature only and does not consider your personal objectives, financial situation or particular needs. Full disclaimer available here.

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