The pound was up against the euro yesterday afternoon, despite ongoing worries over the upcoming trade talks with the EU. Reports emerging at the weekend claim that fisheries will prove to be a major stumbling block, with a bill currently under scrutiny in Parliament to remove automatic access to British waters – much opposed by Ireland, France, Spain and others.
Italian industrial output came in much worse than expected yesterday morning, and yearly figures showed the first annual drop since 2014, putting downward pressure on the single currency.
The dollar is still being strengthened by fears over instability in the wake of coronavirus pushing investors towards safe havens. This doesn’t look set to change any time soon, with the WHO saying cases so far could be ‘the tip of the iceberg’.
It’s very easy to protect your money against any sudden market drops: simply lock in a fixed exchange rate for up to a year with a forward contract. Speak to your Personal Trader on 020 7898 0541 to get started now.
