The British economy grew faster than expected in the last quarter of 2019, according to yesterday’s figures, giving the pound a boost against the euro. Nonetheless, weakness remains due to concerns over the upcoming trade talks.
Yesterday, Ursula von der Leyen said that the UK’s ambition to champion free trade was ‘music to [her] ears’, but warned that it would have to come with regulatory alignment.
It has not been a particularly strong week for EU economic data so far, and industrial production is expected to show a decline later today. However, the markets will be looking forward to tomorrow’s forecasts, and any positive figures could help the euro.
Coronavirus fears continue to help the dollar, although we could see further pressure around interest rates, with Donald Trump tweeting that they are ‘too high’.
Protect your money against upcoming uncertainty and take advantage of the pound’s strength by locking in today’s exchange rate for up to a year with a forward contract. That way, if you’re making big purchases in the middle of the trade negotiations, you know that any sudden changes won’t impact what you pay. Speak to your Personal Trader on 020 7898 0541 to find out more.
