Today the pound continues to gain strength against the euro despite UK PMI disappointing market expectations yesterday. Against the dollar however, sterling is weaker this morning.
In UK politics, Tory leadership candidate Liz Truss plans to reduce the Bank of England’s independence. Rival Rishi Sunak on the other hand, fears this could “spook investors” and “be bad for us all”.
Tomorrow, eurozone market watchers will be keeping a close eye on German markets as more big data will be released. The Ifo Business climate is expected to fall again from 88.6 to 86.2.
In the US, orders appear to be slowing down. The latest durable goods ordered predictions have fallen from 1.9% to 0.8%.
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.
