The pound is still strong against the euro and the dollar this morning after GDP data was released. The data came in roughly as expected, showing that the economy has fallen into recession for the first time in 11 years. It did, however, also show that the economy bounced back slightly in June.
The euro was given a boost against the dollar yesterday after positive economic sentiment figures from Germany and the Eurozone, which suggest that analysts are positive about the EU’s economic recovery. In the US, inflation rate data will be released later today, which could impact the dollar.
Make sure any upcoming transactions are protected against the risks of sudden market movements. Secure a fixed exchange rate now with a forward contract; call your Personal Trader on 020 7898 0541 to get started.