After a poor start to the week, the pound made a recovery against the euro and the dollar yesterday afternoon. It is still strong this morning, moving with the global markets as EU leaders finally came to an agreement over their huge recovery package, which is designed to help EU countries struggling due to the coronavirus.
Despite this, worries over the progress of Brexit negotiations persist as officials meet in London this week to continue with talks. The economic state of the country is also a cause for concern due to evidence that the UK is lagging compared to other countries.
News of the coronavirus recovery plan is likely to support the euro in the long term, whilst the dollar is weaker on hopes that more monetary stimulus will be introduced to aid the US economy.
Make sure you lock in your exchange rate with a forward contract today, so your money isn’t affected by uncertainty. Speak to your Personal Trader on 020 7898 0541 to get started.
