The pound is down against the euro this morning, and has hit two-year lows against the dollar, as a no-deal Brexit seems more and more likely. Yesterday, speaking about the EU’s willingness to reopen negotiations on the withdrawal agreement, Michael Gove said that the government was operating on the ‘assumption that they don’t…[and] need to plan for every eventuality.’
The euro is benefitting from sterling’s weakness, ahead of a busy week of economic releases. Meanwhile, the dollar is looking strong again this morning, after GDP data came in better than expected. A rate cut is expected on Wednesday, although, if more dovish than expected, it could turn around dollar’s gains.
It’s not too late to protect your money against uncertainty. Speak to your Personal Trader about securing a fixed exchange rate with a forward contract on 020 7898 0541 today.
