British consumers have cut back on their spending despite the Christmas period, figures released yesterday showed. The pound drifted downward on the news, hitting a two-week low against the dollar, although it has now moved back upward.
Data from the eurozone was more positive. Germany’s industrial sector showed signs of a rebound, as figures re-entered the green. It will remain to be seen whether this is a long-term trend.
With tensions with Iran seemingly on the path of relative defusion, the dollar was up against the pound and euro yesterday. Today’s non-farm payrolls are expected to show a drop from previous figures, although forecasts mean it is likely to be priced in.
Speak to your Personal Trader today on 020 7898 0541 about protecting your money from this uncertainty. A forward contract locks in your exchange rate for up to twelve months, so you know exactly how much you’re paying throughout this very uncertain year of Brexit and elections.
