The pound ended last week on a soft note as it continued to process the Bank of England’s decision to boost its quantitative easing programme. Meanwhile, the Prime Minister announced on Friday that the government department responsible for overseas aid is to be merged with the Foreign Office.
The EU summit on Friday ended without conclusion, as leaders failed to reach a compromise on the management of a coronavirus rescue package. The dollar was stronger as it continued to benefit from concerns over a second wave.
Even ‘non-essential’ shops were able to open at the weekend, although a terrorist knife attack that left three dead in Reading on Saturday was a reminder that other risks haven’t gone away during the Covid-19 crisis.
This week we expect to hear news on social distancing rules and a potential opening of pubs and restaurants in one form or another, as a heatwave is forecast to see temperatures up to the mid-30s.
Make sure to protect your money in these uncertain times. Lock in an unchanging exchange rate for up to a year with a forward contract by calling your Personal Trader on 020 7898 0500 today.
