The pound strengthened yesterday after positive retail sales data – a good sign for the UK economy – and as the House of Commons passed a proposal that would make it much more difficult for the new Prime Minister to suspend Parliament to push a no-deal through.
Rumours that the ECB is considering changing its inflation target put downward pressure on the euro yesterday. Today and next week are light on economic releases, so most influence is likely to come from external factors.
The dollar is down this morning after a Federal Reserve official seemed to signal an upcoming rate cut.
The major impact on the markets at the start of next week will likely be the selection of the new UK Prime Minister. While the markets will likely be expecting the outcome, any hints of new policies or a change in direction following the announcement could have a big impact.
Make sure to lock in your rate today with a forward contract to protect your money from uncertainty. Speak to your Personal Trader on 020 7898 0541 to find out more.
