The pound is still at strong levels against the euro and the dollar this morning, but its rally has stalled ahead of the Chancellor’s Spring Budget, which is due to take place at 12:30pm today. Whilst government support schemes, such as the Furlough Scheme, are expected to be extended, Rishi Sunak said previously that “tough decisions” have had to be made.
Momentum is building for Biden’s $1.9 trillion coronavirus relief package, which Democrats aim to send to President Biden next week for his sign-off.
In Europe, European Central Bank official, Fabio Panetta, said yesterday that the jump in government-bond yields in recent weeks “is unwelcome and must be resisted.”
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.
