Twas the night before…

By Matthew Boyle

As the year comes closer to its end, GBP rates have remained relatively flat over the last few days. Despite action by the Bank of England earlier this month in raising UK interest rates, whilst the pound saw some strength momentarily it has struggled to gain any positive traction. This is also despite (at least so far) we have avoided the dreaded supply chain issues we have been warned about for months with many worried Christmas day would we ruined.  Japan have not been so lucky however with reports that due to potato shortages there, McDonalds will be reducing their portion size in the coming weeks (albeit KFC is the widely practised Christmas day meal there though – fact!).

It seems for the time being Omicron and its impact will be the driving factor in exchange rates in what continues to be a sentiment led market. With only 3 days to go until the big man in a suit arrives it looks like for now that Christmas won’t be restricted this year by the other big man in a suit – Boris.

Sadly, his generosity is unlikely to remain for long with many warning of a circuit breaker lockdown or heavier restrictions coming into play shortly after the festivities are over. Indeed, the Welsh First Minister Drakeford is due to announce today their post-Christmas covid plans and rules, so watch this space.

Certainly, any negative news could well push what is currently a finely balanced Pound down.

So, if you have any transfers to make speak to A Place in the Sun Currency today to make sure that you don’t get caught out in the cold with a drop in rates and an increase in price… it would be a shame now for anyone to end up on the naughty list.

Wishing everyone a happy and safe Christmas from the team here.