The pound strengthened this morning following the EU27’s agreement to a short delay to Brexit. Instead of May’s asked-for extension until June, the deal sees the default, no-deal date set to 12th April – but 22nd May if the Prime Minister’s deal does pass through Parliament.
The Eurozone otherwise didn’t have a good end to the working week, with German manufacturing dropping to almost a seven-year low, and PMI data coming in on a downward trend. In the US, the dollar made a full recovery after an initial drop following the Federal Reserve’s decision not to raise rates.
We could well be approaching a no-deal Brexit, but no-one can say for certain – will Parliament surprise us and pass the withdrawal agreement on a third try? Don’t leave your money to chance in a time of such volatility. Make sure to lock in your exchange rate today with a forward contract by calling your Personal Trader on 020 7898 0541.
