Data revealing that the UK’s inflation rate has jumped unexpectedly underpinned some of the pound’s strength yesterday. Sterling is slightly weaker this morning however, as the dollar strengthened after meeting minutes from the Federal Reserve. It’s also slightly weaker against the euro, ahead of the ECB meeting minutes. Today, the Confederation of British Industry‘s Industrial Trends Survey will reveal more about how the UK economy is faring.
Minutes from the latest FOMC meeting revealed that the Federal Reserve will probably keep their monetary policy stance the same at the upcoming September meeting. However, they cited economic concerns due to the coronavirus crisis and noted the need for more fiscal help from Congress.
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.
