The pound is strong ahead of a busy political week, as the slim hopes of a forthcoming Brexit deal seem to be becoming even slimmer, and Parliament remains deeply divided. Sterling came under pressure last week after the BoE suggested a rate cut was on its way. The Conservative Party Conference is underway, with focus turning to plans for infrastructure today.
The eurozone didn’t end last week well, either, as business confidence declined much below expectations and economic sentiment came to a near five-year low. We’ll see more data releases today, which could affect the single currency.
The dollar is looking mixed this morning as conflicting reports on US-China trade developments materialised over the weekend. It’s a busy week of data for the US, culminating in Non-Farm Payrolls on Friday.
As we edge closer to the Brexit deadline, more uncertainty could be on the horizon. Make sure to protect your money with a forward contract – call us on 020 7898 0541 to get started.
