We have entered a period of remarkably narrow trading ranges for most of the major currency pairs. This is the narrowest yearly trading range for the euro against the dollar since the launch of the single currency in 1999. Nonetheless, the relative strength of the US economy and still wide interest rate differentials remain supportive of the dollar. The persistence of very low - or even negative interest rates - in other economies also makes it difficult for their currencies to make ground against the dollar. All the ingredients, then, for another year of volatility for sterling.

Source: Irish Examiner January 20, 2020 16:30 UTC