All GBP wants for Christmas is a trade deal (Daily analysis 24.12.2020)

24 Dec 2020 10:07|Conotoxia.com

Finally, after months of gridlock, the European Union and the United Kingdom clinched a historic accord on Wednesday. It is rumoured that a breakthrough was possible thanks to Boris Johnson’s capitulation on crucial issues.

The pound enjoys the strongest rally in weeks. The cable rises towards the 1.36 mark and EUR/GBP declines below 0.90. At the same time, EUR/USD hovers a tad above 1.22, which means the common currency gained almost 9% against the greenback this year and was among the top G-10 performers with the Swedish krona and the Swiss franc. The U.S. dollar is set to experience a yearly decline against all major currencies.

In the EM space, the Czech koruna, the Korean won and the Polish zloty stood out while the likes of the Brazilian real, the Turkish lira and the Russian ruble underperformed and were unable to recover massive sell-off despite a recent rally triggered by the vaccine breakthrough.

Conotoxia research team


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This commentary is not a recommendation within the meaning of Regulation of the Minister of Finance of 19 October 2005. It has been prepared for information purposes only and should not serve as a basis for making any investment decisions. Neither the author nor the publisher can be held liable for investment decisions made on the basis of information contained in this commentary. Copying or duplicating this report without acknowledgement of the source is prohibited.

See also:

22 Dec 2020 9:06

The pound claws back as Johnson gives in (Daily analysis 22.12.2020)

21 Dec 2020 9:04

Risk rally comes to an abrupt end (Daily analysis 21.12.2020)

18 Dec 2020 9:02

Risk currencies continue stellar performance (Daily analysis 18.12.20200)

17 Dec 2020 10:18

The greenback falls off the cliff (Daily analysis 17.12.2020)

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