The pound fell to a near one-month low yesterday, after a Downing Street source said Angela Merkel had made clear that the chances of securing a Brexit deal were ‘overwhelmingly unlikely’. The government released further no-deal Brexit advice and policy planning yesterday, and the mood seems to be that it is becoming more likely. However, as always, this could change at any moment.
It was a relatively positive day for the Eurozone, given a ‘clean bill of health’ by auditors for its budget management. German industrial data came in better than expected, as did Italian retail sales year-on-year.
An unexpected deceleration in inflation in the US put pressure on the dollar yesterday. Meanwhile, Federal Reserve Chair Jerome Powell said that the Fed will continue to “act as appropriate to support continued growth.”
We’re in a very volatile week, but you can still easily protect your transfers from the risk this entails. Lock in the exchange rate today with a forward contract by calling your Personal Trader on 020 7898 0541 today.
