Good morning,

The pound marched on to new 2 and a half year highs, as anticipation of a Brexit deal continues to build within the market. Last seen in March 2018, the rate currently sits at 1.3573 against the weaker US dollar, at the time of writing. As mentioned by Josh yesterday, Parliament are being briefed to sit Monday, Tuesday and Wednesday next week, when they would normally be on recess, should a deal be agreed. As MPs have already left Westminster it would break the norm for them to return, however this is an extraordinary period. Over recent days there has not been any major breakthrough reported, as the clock ticks down to the deadline of year end, it could be a big announcement over the coming days as to the future relationship between the UK and Europe.

Lunchtime today will see the Bank of England announce their interest rate decision for the final, scheduled time this year. Interest rates are not expected to change, however, as always, attention will turn to the following press conference. With Brexit still bubbling away and a Covid battered economy, the questions will undoubtedly centre around negative interest rates. Something which has been spoken about throughout the year, a No Deal Brexit may be seen as the tipping point for forcing the hand of the BOE.

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.

Speak with our friendly staff to see how you can receive the best rates on your investments
Contact us via phone, email, or live chat