US GDP for the 3rd quarter was up 2% compared to the same period last year. This is better than the expected 1.9% increase expected by many analysts. This combined with worse than expected UK net public sector borrowing figures has driven GBPUSD to the lowest levels we have seen since April.
Sterling is on the back foot against all the majors however, so good news for Sterling buyers not such good news for sellers though!
Christmas opening hours
With Christmas fast approaching, it is worth planning your currency needs to ensure you don't face delays during the festivities.
The Halo Financial opening hours are (All GMT)
21st, 22nd, 23rd December – 08:30 to 20:00 (Normal Hours)
24th Christmas Eve – 08:30 to 16:00
29th, 30th 31st December – 08:30 to 17:30
4th January 2016 – 08:30 to 20:00 (Normal hours resume)
Over the Christmas period with the majority of traders and market participants away there’s much thinner trading volumes which can mean increased volatility and we always recommend placing limit orders over the next 2 weeks to take advantage of any favourable moves in the exchange rate. Your Halo FX consultant will be happy to suggest levels if you’re keen.
Latest FX news by Tom Ives