The pound is down against the euro, after a week of heightened worries over the disruption of coronavirus. The Bank of England introduced an emergency rate cut of 0.5%, while the ECB, with hands largely tied on rates, announced a boost to its stimulus programme.
The Federal Reserve made another emergency interest rate cut yesterday ahead of their official meeting this week. The dollar is weaker this morning as a result.
This week will see a raft of economic releases, including European balance of trade, American industrial figures, British employment and more.
The markets are in an even more unpredictable period than usual, so don’t leave your money unprotected. It’s never too late – lock in today’s exchange rate now with a forward contract for up to twelve months by calling your Personal Trader on 020 7898 0541. We’re open as usual, so please don’t hesitate to contact us if you need us.
