Sterling is on a slight upward tick this morning following a relatively positive week. Although inflation came in just below expectations, it only had a small dip that it soon regained. The retail price index also came in below forecasts, but it seems that the markets are largely just waiting for a development on Brexit talks. The Guardian reports that they have reached an impasse, which was swiftly denied by Labour.
The euro has had a positive week, with balance of trade reaching €17.5 billion instead of €12.3 billion. Italy also posted positive figures, in a good sign for an economy that hasn’t been doing so well recently.
Dollar dipped yesterday against both the pound and euro due to better-than-expected growth data from China. It’s a strong sign of how interconnected the markets are – and how you can’t predict what will impact the pound from day to day. Make sure to protect your money against this volatility by securing a fixed exchange rate with a forward contract. Find out more from your Personal Trader on 020 7898 0541.