The pound is weak this morning ahead of Boris Johnson revealing his plan for a Brexit agreement, likely to be made public following his conference speech this morning. Opposition has already been voiced on proposals for customs checks between Northern Ireland and the Republic, but it remains to be seen what shape the full proposal will take.
In the Eurozone, German manufacturing came in better than expected, in a positive sign for the single market’s largest economy. Nonetheless, much of the influence today will also be political, as the Brexit plans are revealed.
Despite an unexpected drop in US manufacturing, the dollar is still up against both the pound and euro. A series of speeches from Fed officials have begun, with Charles Evans indicating yesterday that enough rate cuts may have been made to lift inflation.
There will be a lot of uncertainty and unpredictability over the next few days, with just a few weeks for any potential deal to gain approval and be passed. Make sure to protect your money against the risk of sudden market movements with a forward contract. This locks in your rate for up to twelve months, so you always know exactly how much you’re paying. Speak to your Personal Trader on 020 7898 0541 to act now.
