The Bank of England will hold its monetary policy meeting later today and the markets will be looking out for any mention of negative interest rates. Sterling has been well supported since Governor Andrew Bailey pushed back on the prospect of negative rates earlier this year. However, any further comments could significantly impact the pound.
Europe’s slow progress with its vaccine rollout continues to weigh on the euro, which shrugged off better-than-expected PMI data yesterday.
The dollar is strong this morning due to economic optimism in the US, brought about by the incoming stimulus bill, economic data and progress with their vaccine programme.
Act now to make sure any upcoming transactions are protected against the risks of sudden market movements. Secure a fixed exchange rate now with a forward contract; call your Personal Trader on 020 7898 0541 to get started.
