Negative rhetoric surrounding Brexit negotiations and fears of a second wave, provoked by a letter from top medics, weakened the pound yesterday. This morning, sterling is up slightly against the euro and the dollar but retains a softer tone as the stock markets fell overnight.
The US announced that it would impose more tariffs on EU goods, causing the euro to weaken briefly yesterday. The dollar strengthened, benefitting from its safe-haven status as some US states reported an increase in coronavirus infections.
We could be starting to see the light at the end of the tunnel. However, we can’t predict currency movements in the coming days, weeks or months. Ensure that your money is protected by locking in a forward contract. Contact your Personal Trader on 020 7898 0541 today.
