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December Currency News
01 December 2015

This month, amidst the hectic and riotous festivities, we have a number of ongoing themes that will likely continue from now well into the new year.

This week we are expected to see clear signs from the Federal Reserve of their imminent interest rate rise across the pond in the U.S. which, when it happens, will probably cause the USD to continue its ascent with additional strength, making it more expensive to buy from a multitude of currencies but most importantly the Pound and Euro, moving into the new year.

According to numerous sources, Greece has now completed its strict financial and political reforms and is now beginning to discuss a debt relief deal that will start to come to fruition from February next year, which again could see some improvement in the strength of the Euro, as the country very slowly but surely gets back to something like a working economy.

Moving further afield in the Eurozone, the ECB needs to get inflation back to as close to but just under 2% as quickly as possible and according to Mario Draghi, the ECB chief, will take all measures necessary, including one or more of a variety of options including monetary easing (QE), interest rate cuts and asset and bond-buying. All of which could return the single currency to greater strength after its significant weakening so far in 2015.

More locally, the latest round of the UK bank stress test was carried out, with all banks coming through unscathed (with RBS and Standard Chartered the two weakest), although it has been announced that, as an added security, all banks will need an additional £10bn in capital to ensure future and continued strength.

Looking towards the end of the year, the Pound remains in a strong position against the Euro but remains in a passive state against the US Dollar exchange rate, as it waits to hear of the expected interest rate rise from Yellen and the Federal Reserve as it looks like the USA has won the race to hike rates first.

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