The pound is stronger against the euro this morning after a speech from Federal Reserve Chair, Jerome Powell, at the Jackson Hole Symposium yesterday. He revealed a change of approach to monetary policy, indicating that the Fed will continue to support the US economy and will allow inflation to go above the current 2% target.
Rising infection rates across Europe could be beginning to take their toll on the euro, which is weaker against the pound. After an initial boost following the Powell speech, the dollar is weaker this morning. Personal Income and Personal Spending figures will be released for the US later today.
Make sure you lock in your exchange rate with a forward contract today, so your money isn’t affected by uncertainty. Speak to your Personal Trader on 020 7898 0541 to get started.
