Monday proved to be a rather quiet day across the foreign exchange markets. The pound’s early gains were trimmed as participants await further news on Brexit and take stock of the new tier increases across the South East of the UK. The US dollar was marginally weaker across the board, continuing its poor run into the end of the year.
Last night, the Electoral College announced Joe Biden as the 46th President of the United States of America. This should see many Republican politicians begin to officially recognise the outcome of the November election, and could hopefully push the focus back onto key issues such as controlling the spread of the virus as well as ensuring the economy does not falter due to a lack of confidence and support for the worst affected families.
Today’s economic calendar sees UK employment numbers released in the morning. In the afternoon the US will release a New York manufacturing gauge as well as country-wide industrial and manufacturing production. We’ll also be keeping a close eye on any Brexit developments which could arrive at any moment.
8:21am, December 15th 2020
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