EUR/GBP in 2015
EUR/GBP opened 2015 at 0.78 and closed at 0.74, a -4.94% move for the year. The high of 0.78 was reached on January 7, and the low of 0.69 on July 19.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 0.78 | 0.75 | 0.78 | 0.74 | -3.16% |
| Feb | 0.75 | 0.73 | 0.76 | 0.73 | -3.04% |
| Mar | 0.72 | 0.72 | 0.74 | 0.71 | -0.04% |
| Apr | 0.73 | 0.73 | 0.74 | 0.71 | +0.59% |
| May | 0.74 | 0.72 | 0.74 | 0.71 | -2.94% |
| Jun | 0.72 | 0.71 | 0.74 | 0.7 | -1.23% |
| Jul | 0.71 | 0.7 | 0.72 | 0.69 | -0.89% |
| Aug | 0.7 | 0.73 | 0.74 | 0.7 | +4.09% |
| Sep | 0.74 | 0.74 | 0.74 | 0.72 | +0.08% |
| Oct | 0.74 | 0.72 | 0.75 | 0.72 | -2.96% |
| Nov | 0.71 | 0.7 | 0.72 | 0.7 | -1.41% |
| Dec | 0.7 | 0.74 | 0.74 | 0.7 | +5.11% |
Events During 2015
The PBoC devalued the yuan by 1.9% in a single day on August 11, 2015, the first meaningful devaluation since 1994. Global risk assets convulsed.
Brent crude fell from $115 in June 2014 to $27 in January 2016, a 77% collapse. Shale oversupply and OPEC's refusal to cut production broke the commodity supercycle that had dominated markets since 2003.
The Swiss National Bank abandoned its 1.20 EUR/CHF floor on January 15, 2015. The franc immediately surged 30%, blowing up retail FX brokers and exposing the fragility of exchange rate commitments.
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