GBPUSD has had a bumpy week, with price rallying to 1.3314 on the 11th, before sliding back to 1.31 yesterday.
EURUSD has found itself trading sideways around the 1.1815 mark.
Eurozone GDP for Q3 was released at 10am this morning. Growth results closely aligned with the expectation of 12.7%, as did the year on year figure showing a -4.4% contraction in GDP.
The New Zealand dollar has been tagged as the weakest performer today, sliding lower despite the initial positivity generated by the RBNZ update. GBPNZD is up 1.13% today.
In terms of managing covid currency risk, Italy is set to extend their regional lockdowns beyond the 3rd December. A spokesman from the German government said that easing of measures in Germany was not possible at this stage. There will be similar concerns voiced elsewhere, particularly in the UK where the economy has been reassured of the December lockdown release In England.
Dominic Cummings is set to resign at the end of this year. The UK lawmakers familiar with the matter insist this will have no impact on the preceding negotiations. GBP however, will remain at the mercy of deadline progress.
Have a great day and weekend.
Author: Alistair Hutson, Head of Relationship Management.
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