This is the last update of 2020. We wanted to thank all of our customers who have used WorldFirst for their currency payments over the last 12 months and look forward to another 12 months in 2021.
Sterling is currently the strongest currency, however there are still thin liquidity conditions at play, so this is not a complete picture. GBPEUR has climbed to 1.1115 representing a 0.38% gain, and GBPUSD has rallied to 1.3655, representing a gain of 0.22%.
The dollar is still on the back foot, which is becoming more noticeable in EURUSD which has now traded above 1.23. This is worth a mention performance-wise, as the euro has gained nearly 10% on the dollar this year, despite challenging market conditions and the dollar’s reserve currency status. The Swedish krona has gained over 14% in the same period, taking 1st place on the podium performance-wise. For those of our clients who receive or make payments in USD, we encourage you to think about your dollar strategy for 2021 and arrange a time to speak to our account management team.
Here’s a look back at the highs and lows of some of the major currency pairs in 2020:
GBPUSD 1.1411 – 1.3669
GBPEUR 1.0529 – 1.1279
EURUSD 1.0634 – 1.2310
GBPAUD 1.7429 – 2.06
GBPNZD 1.8523 – 2.10
GBPCAD 1.6768 – 1.8050
This year has been about adaptation and we are excited to continue to develop our product and services in 2021. We always love hearing from our customers so please continue to provide feedback where possible.
Have a great day.
Author: Alistair Hutson, Senior 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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