The pound is strong this morning ahead of Brexit negotiations, which are due to resume between the UK and EU next week. Sticking points remain on both sides, however, Irish Prime Minister, Micheál Martin, said yesterday that he believes there is a “landing zone” to reach a post-Brexit trade deal. The UK’s Chief negotiator, David Frost, also commented saying that an agreement can be reached in September. We could see both the pound and the euro impacted by the rhetoric surrounding these talks.
The dollar is still weak as it awaits a conclusion to congressional talks on the US stimulus package. Retail sales data is due for the US today and is expected to show a small growth.
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.
