The pound has started this morning in a strong position against the euro after speculation increased over the possibility of an extension to the Brexit trade talks by a year or a year and a half. The Federal Reserve’s programme to pump more dollars into the world economy has also helped sterling.
Manufacturing PMI showed further decline in Europe this morning; later today we will see the equivalent figures from the UK.
Fears continue to grow about the spread of Covid-19 in the US, but the dollar’s status as a safe haven is helping to keep it strong against a basket of currencies.
These are uncertain times, so make sure you plan ahead for any international transfers – or risk seeing your purchasing power dramatically reduced. Secure today’s exchange rate for up to twelve months with a forward contract; speak to your Personal Trader on 020 7898 0541 to find out how.
