The pound reached a 5-week high against the euro yesterday and is still strong this morning. It has strengthened since the start of the week following the UK’s local election results, when political ‘risks’ subsided after the SNP failed to achieve an outright majority.
The government announced yesterday that an independent inquiry into its handling of the pandemic would be carried out from next spring. Boris Johnson told MPs that it will “identify the key issues that will make a difference for the future”.
The dollar has strengthened following an unexpected jump in inflation. This has come about due to the reopening of the US economy and a soar in consumer demand.
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.
Have you read our brand-new Quarterly Forecast for April to June yet? Find out what the major banks are predicting for currencies over the next 3, 6 and 12 months. Download your free copy here.
