The pound is still well supported against the euro and dollar but weakened slightly yesterday after Bank of England officials warned that the UK’s economic recovery could be more drawn out than expected. Although views differ slightly between officials, it’s agreed that the economic outlook is uncertain.
There’s a series of important data releases coming up for Europe and US today, including Eurozone retail sales and US Balance of Trade figures. For the UK, PMI data will be released later.
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.
