The pound weakened yesterday as the first Conservative leadership ballot confirmed Boris Johnson not just as the leading candidate, but far ahead of any of the others, with more than double of Michael Gove and Jeremy Hunt.
The euro is relatively stable this morning, although, with a busier week ahead, this may not last. We will see wage growth for the EU on Monday, and, of course, the UK’s leadership selection will continue to weigh on the single currency.
It’s a mixed bag in the US, although the greenback is under pressure amid low expectations for the FOMC’s policy meeting next week.
Take advantage of today’s lull and lock in your exchange rate for up to a year with a forward contract. Speak to your Personal Trader on 020 7898 0541 to get started today.
