It’s a busy day for data releases today, with PMI (Purchasing Managers Index) figures expected for the UK, EU and US. This is considered a significant indicator of how economies are faring, so the markets will be watching closely.
The dollar continues to suffer, benefitting the pound and the euro. Infections in the US continue to rise and top infectious disease expert, Dr Anthony Fauci, has warned of a “really bad situation” if the country does not bring its daily coronavirus case count down to 10,000 by September.
There have been reports that the EU could be softening its stance on a key sticking point, in order to break the Brexit impasse. Talks are due to resume on the 17th of August.
The pound’s value could change swiftly and significantly, so make sure to protect your money from currency fluctuations. Lock in your exchange rate with a forward contract today, so your budget isn’t affected by uncertainty. Speak to your Personal Trader on 020 7898 0541 to get started.
