Sterling is under pressure this morning following a further decline in construction PMI – and not helped by concerns about who Theresa May’s replacement will be, and what it will mean for Brexit and the possibility of a no-deal.
The markets will be watching closely for any signs of a rate change from the ECB meeting today, although it seems highly unlikely. In fact, a further push back of rate hikes seems more and more probable.
Indications of a possible rate cut over in the US have helped to push the dollar low, as did poor American factory growth, hitting its lowest rate in nearly a decade.
There’s a lot of volatility on the markets this week, so make sure to protect your money on all transfers you make. Speak to your Personal Trader on 020 7898 0541 today about locking in an exchange rate with a forward contract.
