A Week Of Brexit Uncertainty Leaves The Pound Looking Volatile

The Pound has been impacted by Brexit negotiations in recent weeks and that has caused the currency to lose some ground on Friday. According to the Foreign Exchange Market, it finished the week at 1.1086 against the Euro and 1.3437 against the US Dollar. As negotiations looked to be locked, the Pound felt the pressure and that hasn’t changed over the weekend. However, it’s looking likely that talks are going to progress and that could work in favour of the currency this week. The Bank of England will also be releasing its financial stability report which means that new stimulus measures could be announced.

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The Euro found itself fairly range bound at the end of the week and once again, that was driven by Brexit. However, the EU economy might be supported by further monetary stimulus this week and that could mean that the Euro is given a boost this week.

The release of Non-Farm Payroll data was released on Friday and it indicated that the number of jobs added in November was lower than expected. To add to this, increasing coronavirus cases and restrictions are weighing heavily on the safe-haven currency this week although it has started the week in a slightly stronger position.

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