The euro hit a four-month high against sterling yesterday, with worries over the spread of coronavirus impacting the latter, as well as ongoing fears over the difficulties of the EU-UK trade talks that began yesterday. The pound has recovered slightly this morning, although the risk of moving lower remains.
Coronavirus also helped to push the dollar down, giving rise to further speculation over an interest rate cut in the future.
Today, we will see unemployment figures from the EU, construction data from the UK and a series of key speeches in America.
Today’s spike in the euro shows how much unpredictability is around in the markets at the moment. If you’re making international transfers in the coming months, use a forward contract to secure a fixed exchange rate for up to a year. Speak to your Personal Trader on 020 7898 0541 to find out more.
