The pound has started the week on an upswing against most currencies including the euro and US dollar.
If you haven’t already downloaded our brand new quarterly forecast, why not do that now? It only takes a second via this link. It’s packed with interesting data on what could move sterling this summer and into next year.
After last week’s mass of economic data and Conservative Party leadership drama, this looks like a relatively quiet week. It’s also the start of the summer break, where news is supposed to quieten down. Maybe not this year though, with delays at UK airports and docks, national rail strikes and the threat to European industry from the war in Ukraine and its repercussions.
A feature of most recent summers has been the collapse of sterling. August 2017, 2018, 2019 and 2020 all saw sterling a good 5 to 10% down on where we are today. You couldn’t rule against a similar collapse happening this summer as well, since the problems facing the economy are at least as worrying as in those periods.
Also to watch out for this week is the US Federal Reserve interest rate decision, and lots of inflation data from the eurozone. Any of this could move the market, so to lock in today’s rate, do make that call to your trader on 020 8108 5163.
