The pound regained some of its strength against the euro and dollar yesterday, as any indication of a rate cut from the Bank of England, as some had feared, did not materialise. Nonetheless, there is still uncertainty over whether there will be a rate cut at the end of this month.
In the eurozone, Italy narrowly avoided stagnant growth, with yearly GDP figures showing the economy expanded – albeit slowly – at a rate of 0.1%.
The dollar recovered somewhat from the surprise of an emergency rate cut at the beginning of the week, although it is still weaker against sterling than throughout much of last month.
Make sure to lock in your exchange rate if you have any transactions coming up over the next few months – with so much unpredictability, you could risk your budget being significantly impacted. Find out by speaking to your Personal Trader about a forward contract on 020 7898 0541 today.
