The pound weakened to a 35 year low against the dollar and to its weakest level against the euro since 2009. New Bank of England Governor, Andrew Bailey, said that there is no “single story” to sterling’s decline.
The EU has now imposed a 30-day travel ban to mitigate the impact of coronavirus, turning non-EU citizens away from airports and borders. The euro was fairly weak yesterday but remains strong against the pound.
The dollar, on the other hand, is outperforming most major currencies as it continues to benefit in times of crisis.
As this crisis unfolds, it’s impossible to predict the extent of the volatility that lies ahead. We realise that this is an extremely unpredictable time, so we’re operating as normal and here if you need us.
Please don’t hesitate to call your Personal Trader on 020 7898 0500 to discuss ways to protect your money from volatility.
