The pound is trading around similar levels against the euro this morning but is weaker against the dollar.
Minutes from the Federal Reserve’s latest meeting were published yesterday, which showed that there is growing support amongst officials to taper monetary policy before the end of the year. The dollar has risen against most currencies today following this.
In the Eurozone, data released yesterday shows that inflation has reached 2.2%, above the European Central Bank’s target of 2%. Despite this, the euro is still weak against the dollar and other currencies, as the Bank has given little indication that it will hike interest rates or taper monetary policy anytime soon.
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.
