Unveiling 2024: Market Outlook and Key Trends Get your free copy
-
UK
- Australia - English
- België - Nederlands
- Belgique - Français
- Brazil - Portuguese
- Canada - English
- Česká Republika - Čeština
- Deutschland - Deutsch
- España - Español
- France - Français
- Ελλάδα - Ελληνικά
- Hong Kong - English
- Hong Kong - Traditional Chinese
- Italia - Italiano
- Luxembourg - English
- Nederland - Nederlands
- Polska - Polski
- Portugal - Português
- România - Română
- Schweiz - Deutsch
- Suisse - Français
- Sverige - Svenska
- United Arab Emirates - English
- United Kingdom - English
Contact our experts
Ebury London
100 Victoria Street
London
SW1E 5JL
+44 (0) 20 3872 6670
[email protected]
Ebury.com
Sterling soars as Bailey talks down negative interest rates
- Go back to blog home
- Latest
13 January 2021
Head of Market Strategy at Ebury Providing expert currency analysis so small and mid-sized businesses can effectively navigate international markets.
Sterling continues to hold up remarkably well in the face of the worsening pandemic situation in the UK and indeed overseas.
Bailey did, however, strike an optimistic note on the recovery, saying that the UK economy would bounce back broadly as it did last year once lockdown measures are gradually lifted. With more than 4% of the population now having received at least one dose of either the Pfizer of AstraZeneca vaccine, and with the pace of vaccinations accelerating every day, we remain hopeful that we could see this unwinding by the spring. This is, of course, very much dependent on the impact of the lockdown in suppressing caseloads. New daily cases fell to a two-week low yesterday, although it is far too soon to draw any conclusion from this.
German lockdown warnings raise ‘double dip’ recession concerns
Much like with sterling, euro traders are continuing to take the doom and gloom pandemic headlines in their stride. German chancellor Angela Merkel warned on Tuesday that lockdown measures could last for another 8 to 10 weeks in the country, i.e possibly through to the end of March. This is a big concern for the Euro Area economy and if this indeed turns out to be the case, we would almost certainly see another quarter of contraction and a ‘double dip’ recession in the common bloc.
While the latest virus numbers appear to have stabilised in Germany, this has a lot to do with a sharp decrease in testing. As of 3rd January, Germany was conducting just 1.35 tests per 1,000 people, half of that conducted in early-November and more than five times less than that currently being carried out in the UK. Deaths caused by the virus in Europe’s largest country have continued on a worrisome upward trajectory, with the one-week moving average now around the 1,000 mark, four times higher than the peak in April. The euro has, however, continued to hold firm, stabilising around the 1.22 level versus the US dollar this morning.
Cookies and Privacy
This site uses cookies to ensure you get the best experience. For more information see our Privacy NoticeAccept Settings Reject
Privacy Overview
Cookie | Duration | Description |
---|---|---|
cf_use_ob | past | This cookie is set by the provider Cloudflare content delivery network. This cookie is used for determining whether it should continue serving "Always Online" until the cookie expires. |
cookielawinfo-checkbox-advertisement | 1 year | The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Advertisement". |
cookielawinfo-checkbox-analytics | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics". |
cookielawinfo-checkbox-functional | 11 months | The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". |
cookielawinfo-checkbox-necessary | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary". |
cookielawinfo-checkbox-others | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. |
cookielawinfo-checkbox-performance | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance". |
viewed_cookie_policy | 11 months | The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data. |
Cookie | Duration | Description |
---|---|---|
_ga | 2 years | This cookie is installed by Google Analytics. The cookie is used to calculate visitor, session, campaign data and keep track of site usage for the site's analytics report. The cookies store information anonymously and assign a randomly generated number to identify unique visitors. |
_ga_P8154YCRDP | 2 years | This cookie is installed by Google Analytics. |
_gat_gtag_UA_51187572_50 | 1 minute | Google uses this cookie to distinguish users. |
_gid | 1 day | This cookie is installed by Google Analytics. The cookie is used to store information of how visitors use a website and helps in creating an analytics report of how the website is doing. The data collected including the number visitors, the source where they have come from, and the pages visted in an anonymous form. |
_hjFirstSeen | 30 minutes | This is set by Hotjar to identify a new user’s first session. It stores a true/false value, indicating whether this was the first time Hotjar saw this user. It is used by Recording filters to identify new user sessions. |
_hjid | 1 year | This cookie is set by Hotjar. This cookie is set when the customer first lands on a page with the Hotjar script. It is used to persist the random user ID, unique to that site on the browser. This ensures that behavior in subsequent visits to the same site will be attributed to the same user ID. |
CONSENT | 16 years 4 months 14 hours 27 minutes | These cookies are set via embedded youtube-videos. They register anonymous statistical data on for example how many times the video is displayed and what settings are used for playback.No sensitive data is collected unless you log in to your google account, in that case your choices are linked with your account, for example if you click “like” on a video. |
pardot | past | The cookie is set when the visitor is logged in as a Pardot user. |
Cookie | Duration | Description |
---|---|---|
IDE | 1 year 24 days | Used by Google DoubleClick and stores information about how the user uses the website and any other advertisement before visiting the website. This is used to present users with ads that are relevant to them according to the user profile. |
test_cookie | 15 minutes | This cookie is set by doubleclick.net. The purpose of the cookie is to determine if the user's browser supports cookies. |
VISITOR_INFO1_LIVE | 5 months 27 days | This cookie is set by Youtube. Used to track the information of the embedded YouTube videos on a website. |
YSC | session | This cookies is set by Youtube and is used to track the views of embedded videos. |
yt-remote-connected-devices | never | These cookies are set via embedded youtube-videos. |
yt-remote-device-id | never | These cookies are set via embedded youtube-videos. |
Cookie | Duration | Description |
---|---|---|
_lfa | 2 years | This cookie is set by the provider Leadfeeder. This cookie is used for identifying the IP address of devices visiting the website. The cookie collects information such as IP addresses, time spent on website and page requests for the visits.This collected information is used for retargeting of multiple users routing from the same IP address. |