The pound ended yesterday down against the dollar, after data showed the US economy shrunk by 5% in the second quarter of this year.
Meanwhile, the pound and euro are choppy, with fears of trade talks breaking down after the EU’s Phil Hogan said yesterday that the UK may have ‘come to the conclusion that there’s not going to be a deal’ ahead of next week’s round of talks.
Urusula von der Leyen has introduced the European Commission’s proposed €750 billion bailout and loan scheme to help countries whose economies have been hard hit by coronavirus. However, there is still opposition from some member states, particularly Austria, Denmark, the Netherlands and Sweden.
With the clock ticking on the Brexit trade talks and the June deadline to ask an extension, there is a lot of uncertainty ahead. Make sure to lock in your rate today with a forward contract, so you have the security of being able to plan realistically. Speak to your Personal Trader on 020 7898 0541 to find out more.
