Pound takes on the chin, markets don’t like Boris Johnson’s plan

By MoneyWay | Dec 17, 2019

Boris Johnson issued a strong message that his government will remain focused on Brexit by banning his ministers from attending the World Economic Forum in Davos, Switzerland, next month. The prime minister, who will also not attend, said he wants to “get on with delivering the priorities of the British people.” Meanwhile the City of London warned against a hasty Brexit agreement that could damage services — which make up about 80% of the U.K. economy. “The December 2020 deadline is ambitious and it is critical the services sector is not sacrificed in the rush to get a deal” said Catherine McGuinness, policy chief at the City of London Corporation, which administers the financial district. “This is just the beginning of the Brexit process.”

The Canadian dollar is basically unchanged, equities continue to rise, U.S.-China phase two trade talks are on, commodities are doing better, therefore expect a stronger CAD to the USD during 2020.

Visit us in-store for the best rate!

Where to Find Us

Get Daily Rates in Your Email Inbox