The pound is still strong and largely unchanged against the dollar, despite GDP data yesterday which revealed that the UK economy has gone into recession. However, sterling is weaker against the euro this morning as data shows that the UK has experienced the worst economic slump in Europe.
The dollar is still weak against the pound and euro as Republicans and Democrats continue to struggle to reach an agreement over the fiscal stimulus bill. Treasury Secretary, Steven Mnuchin, said that the two sides may not be able to reach a deal, even though the relief package could be beneficial to millions of Americans.
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.
