Good morning,

The main talking point from yesterday was the 1.15% drop in GBPUSD which saw price move from 1.3065 to 1.2915. Price is yet again glued to 1.30 which has been a popular level over the month of October – the average rate has been 1.2996.

GBPEUR still remains capped by 1.11 having spent most of October averaging out at 1.10.

EURUSD has dropped from 1.1875 and is now approaching 1.17 again which has been the lowest price recorded in October. Beyond that, September saw price drop to 1.1612.

The ECB rate decision is out at 12:45GMT – keep an eye on the commentary and read between the lines as the past few meetings have caught people off-guard. Both the French and German lockdown restrictions will be an interesting talking point for financial support. For context, the volatility index hit its highest level since mid-June, and this was felt across financial markets with equities moving lower and the dollar gaining support.

If you’re planning on purchasing currency ahead of time, please reach out to our account management team.

Have a great day.

Author: Alistair Hutson, Head of Relationship Management

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.