The pound is volatile after news that the government will ‘pause’ their Brexit bill. This comes as MPs rejected the Prime Minister’s timetable to sign off his deal in three days. The EU will now consider whether to grant a delay to the Brexit deadline. The government have said that if an extension is granted, a general election will be needed.
Euro has started the day up against sterling, and, with few economic releases on the horizon for the morning, politics will likely continue to set the agenda. Later today, we will see flash consumer confidence figures, expected to show a drop from the previous month.
In the US, the dollar has strengthened following positive rhetoric from Chinese officials over trade wars. The house price index will be updated today, providing a snapshot of the health of the US economy.
As uncertainty persists, a forward contract is a simple way of protecting your money by locking in today’s exchange rate for up to twelve months. Speak to your Personal Trader on 020 7898 0541 to find out more.
