The pound has started the day stronger against the euro and weaker against the dollar, as investors wait for the result of tomorrow’s interest rate decision, and concerns over the UK’s position post-Brexit continue. Boris Johnson’s decision to accept some use of Huawei technology yesterday was not well received in America, and some observers are concerned that this could impact future UK-US trade talks.
Consumer confidence for Germany and Italy came in much as expected this morning, with most major economic releases set for tomorrow. Meanwhile, the ECB has warned that six eurozone banks do not meet capital requirements, and must work to improve or face tighter controls.
Good figures for durable goods in the US helped the dollar yesterday, ahead of today’s Federal Reserve meeting. Coronavirus is also still helping safe-haven currencies, as the spread continues.
Just one month in, this has already been a busy year, and there’s plenty more to come. What does this mean for anyone making a major purchase? Find out in our Quarterly Forecasts, and do call your Personal Trader for further guidance on 020 7898 0541.
