The pound weakened further yesterday and is still weak this morning as concerns over the state of Brexit negotiations continue. The EU said yesterday that it will take legal action if the UK doesn’t drop the new legislation by the end of the month, which unlawfully changes parts of the Withdrawal Agreement. Despite this, negotiations are still set to continue next week.
The euro strengthened in the wake of the European Central Bank’s meeting yesterday, after ECB President, Christine Lagarde, downplayed recent concerns that the euro is overvalued. The US awaits inflation data today ahead of the Federal Reserve’s monetary policy meeting next week.
It’s difficult to predict where Brexit negotiations, and the pound, will head next. 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.
