After the Federal Reserve’s decision on interest rates yesterday evening, the pound initially strengthened against the dollar. However, sterling is weaker this morning against both the euro and the dollar, possibly due to a fall in the stock markets.
The Bank of England, ECB and Federal Reserve have all been speaking on the economic crisis, with the BoE’s Jon Cunliffe saying the crisis is ‘far from over’ in the financial sector. The ECB was somewhat more optimistic but warned that recovery would take at least two years.
A forward contract offers a simple way to protect your money, by securing you the same exchange rate for up to twelve months. Find out more by calling your Personal Trader today on 020 7898 0541.
