The pound failed to make up much headway on the euro for the second consecutive week last time out. In fact, sterling has been static for quite some time, ranging by little over a cent against the euro since the start of summer.
Its inability to get out of second gear has led to a frustrating period for overseas buyers. Fresh economic data and the political situation in France provide a chance to grasp the nettle, but as always when it comes to currency, those events could just as easily lead to weakness should the numbers go pear-shaped.
In all honesty, there’s no point trying to second guess where sterling might move next. Far better for both your money and peace of mind is to lock in today’s rate That way, your budget will be secure regardless of what happens between now and Friday afternoon. Simply call 020 8003 4915 and our team will be happy to assist you.
If you’ve been following events in France, you may have seen that President Macron reappointed Sebastian Lecornu prime minister just days after he resigned his post. It’s all a little bewildering, but Lecornu’s first challenge will be agreeing a budget with parliament by the end of the day. This could spell bad news for the euro, seeing as budget negotiations were what cost Lecornu his job first time around.
New employment and growth data fill up a busy schedule for the pound this week. The Labour government in particular will hope that the economy picked up in August after July’s surprise growth duck.
Fresh from being snubbed by the Nobel Committee, US President Donald Trump ruffled some feathers on Friday when he threatened a “massive increase” on tariffs for Chinese imports. The US dollar fell following his comments that further obscured the picture amid the ongoing government shutdown.
Lastly, should you wish to dive deeper into all the issues impacting your money right now, be sure to download your copy of our October-December Quarterly Forecast. This handy report is tailored to your requirements and steers clear of the usual finance speak. We’ve also made sure it’s short enough to be enjoyed over a cup of tea.
