Daily Currency Update

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FX markets steady over Thanksgiving

GBP - British Pound

FX markets were steady for the most part yesterday with it being a holiday in the US. Ranges have been fairly narrow; GBP/USD has traded within 35 points over the last 24 hours.

The Tories still hold at least a ten point lead in all opinion polls released over the past few days, but if anything the pound is slightly lower as jitters over the outcome of the election persist.

Meanwhile, Boris Johnson is continuing not to commit to an interview with the BBCs Andrew Neil. He failed to take part in last night’s Channel 4's climate change debate, too. Only time we tell if these decisions turn out to be negative for the Conservative cause.

Key Movers

Asian stocks are a bit lower this morning following the US legislation introduced this week designed to support human rights in Hong Kong. However, most investors are hoping it doesn’t derail trade talks with hopes of a breakthrough ahead of Dec 15th, when a new round of tariffs are set to kick in.

Looking ahead to today, European inflation data is due with a slight uptick expected. Chinese manufacturing PMIs are also due this weekend.

Expected Ranges

GBP/USD: 1.2880 - 1.2935 ▼

GBP/EUR: 1.1700 - 1.1740 ▼

GBP/AUD: 1.8950 -1.9060 ▼

GBP/NZD: 2.0000 - 2.0120 ▼