Pound under attack as Omicron strikes

As the Omicron variant has hit the headlines, it has sent both stock markets and currency markets into a spin.

Last week the Euro was sold-off amid concerns about a rapid deterioration in the Eurozone economy.

But now the market has taken a different view.

The so-called ‘risk-off’ trade means investors have poured money into safe-haven currencies such as the Euro and US Dollar.

This has caused Pound Sterling to have a 4-day losing streak against the Euro and against the Dollar, the Pound looks even weaker.

The uncertainty caused by Omicron also means the Bank of England may “bottle it” again at the December meeting and keep interest rates on hold. A potential interest rate rise was a key factor holding up the Pound.

The morale of the story is, as always, that we live in an uncertain world.

Things change quickly.

Opportunities come and go.

Whatever your currency requirements, please get in touch with a member of the Key Currency team on 01872 487 500.

Unlike impersonal banks and online only platforms, we can help guide you on the best strategy for your situation.

To find out our latest exchange rates, click on the link below.

Thanks For Reading, What Next?

To discuss Exchange Rates and Your Currency Options, please contact our trader today on 01872 487 500.
Need to Trade Your Currency soon, then request a free quote and we’ll look after you from there.

Have a great day, Geoff Lambourne - Direct Dial me on 0044 (0)1872 487 470.

Current rates:

Wednesday 1st December 2021 at 13:00

£1.00 GBP = 1.1770 EURO

£1.00 GBP = 1.3321 USD

£1.00 GBP = 1.8635 AUD

£1.00 GBP = 1.9472 NZD

£1.00 GBP = 1.6980 CAD

£1.00 GBP = 21.0796 ZAR

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