It was a choppy day for the pound yesterday against the euro and dollar, as fears over the impact of coronavirus on the global economy continued to heighten. However, sterling has stabilised slightly this morning. Consumer confidence in the Eurozone dropped to a six-year low, and manufacturing figures from the UK are expected to fall below 50 today.
The UK government announced stringent new measures for the general public yesterday evening, which will be in place for at least the next three weeks.
Central banks are pushing for further action to help the crisis, with the Federal Reserve launching a new lending facility to help mutual funds, and ECB policymakers calling on EU national governments to present a cohesive response.
Find out how you can protect your money in these uncertain times with a forward contract – locking in a fixed exchange rate for up to a year – by calling your Personal Trader on 020 7898 0541.
We’re operating as usual and here if you need us, so please don’t hesitate to give us a call.
