The Bank of England will hold its latest monetary policy meeting later today and the markets will be listening closely for comments from officials. Whilst no changes to policy are expected, it will be interesting to see if any MPC members vote in favour of hiking interest rates.
Sterling has been weakening steadily since Monday and could react to any news following the meeting.
The dollar strengthened following the conclusion of Federal Reserve’s monetary policy meeting yesterday. Fed Chair, Jerome Powell, said that the tapering of bond buying is coming “soon”, possibly as early as November.
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.
