With December looming as we approach the end of 2017 we are in for potentially another volatile period for Pound vs the Euro with the Brexit talks due to take centre stage during the middle of next month.
The Pound has been struggling over the last few days against the Euro in light of the Brexit uncertainty as well as some rather strong economic data having been published in Europe this week.
Sterling has fallen by as much as 15% since the Brexit back in June 2016 against the single currency and I think it will take some very positive news from the Brexit discussions in order to get anywhere near where we were 18 month ago.
The main topic for discussion will be both the Irish border and the amount of money due to spent on the divorce bill and if they go well this could provide Sterling with a much needed lift but I’m not convinced that things will go that well at next month’s meeting.
The Irish border topic is a real issue for the talks to progress as clearly the North and South do not want a physical border and if this does not get sorted then the talks could stall as Ireland could put a hold on things. Therefore, this could cause the Pound to remain under pressure against the Euro.
Tomorrow morning brings with it the latest set of Eurozone Consumer Confidence data which has been coming out very well during the course of the year so another positive release could see the Pound fall against the Euro. This is due for release at 10am tomorrow morning.
The latest German Inflation figures are due out tomorrow afternoon and as the Eurozone’s strongest economy we could see a lot of movement for GBPEUR exchange rates in the afternoon.
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