The euro showed strength against both the pound and the dollar yesterday, after strong wage growth data.
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The pound remained in a weak position against the euro and the dollar yesterday evening.
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Sterling continues to show weakness and volatility as the Conservative leadership race continues.
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The dollar is strong this morning against both the pound and the euro, as it continues to be supported by the expectation that Federal Reserve policy makers will not introduce an ‘insurance’ rate cut this week.
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The euro is looking strong against the pound and weaker against the dollar, as it benefits from sterling’s drop and suffers due to anticipation of the ECB Forum on Central Banking.
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The pound has fallen to six month lows this morning ahead of a potentially volatile week.
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The pound has lots of factors to contend with this week, the main one being the Conservative leadership race.
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It seems increasingly likely that Boris Johnson will become Britain’s Prime Minister within a few weeks. Whatever your opinion on that, anyone with a major transaction coming up abroad – whether for a property, a business deal, school…
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