Monday 18th December 2017

Good morning


Last missive for 2017 –


Last week the US FOMC (Federal Open Market Committee) raised their rates as expected by 0.25% to 1.50%; the third rise this year and in line with their policy.

GBP/USD hit a 3-week low of 1.33 but up at just over 1.3350 this morning.


The Bank of England and the ECB (European Central Bank) kept rates on hold as widely expected.

GBP/EUR hit a 10-day low on Friday of 1.1285 but is also up at 1.1325 this morning.


Also at the EU summit on Friday, European leaders agreed to move onto the second phase of Brexit negotiations.


We have the Catalan regional elections in Spain on Thursday, with recent polls suggesting the pro-independence parties will not win the majority of the vote.


All that remains is to wish you and your families a very happy Christmas and best wishes for 2018.