The pound is still strong against the euro this morning after breaking through the elusive 1.17 barrier earlier in the week. The UK’s vaccine programme continues to support sterling, however, vaccine supplies to the UK are soon to come under pressure due a delay of doses from India. The ‘third wave’ of COVID-19 infections and potential UK-EU tensions also mean that sterling’s future is uncertain.
Europe, on the other hand, are set to experience a boost of supplies over the coming weeks. However, the euro is still suffering due to the slow vaccine rollout and increasing COVID-19 cases.
In the US, hopes for a strong economic recovery were fuelled by Biden’s latest plans for infrastructure, which were revealed yesterday. The dollar is strong this morning as a result.
Make sure any upcoming transactions are protected against the risks of sudden market movements. Secure a fixed exchange rate now with a forward contract; call your Personal Trader on 020 7898 0541 to get started.
