Sterling reached a two week high against the euro over the past 24 hours, benefitting from euro weakness and the ripple effect on the British financial services sector due to the US Federal Reserve’s latest stimulus programme.
Manufacturing figures showed overall poor performance from the sector in the UK and across the European Union, despite some individual countries performing better than expected.
Unemployment in the eurozone unexpectedly reached a 25-year low, perhaps more cushioned by labour policies than in the US, where jobless claims today are expected to show a significant increase.
It’s never too late to protect your money against the risk of further sudden drops, even if you have already started, for example, a house purchase abroad. Speak to your Personal Trader today on 020 7898 0541 about locking in a fixed exchange rate through a forward contract.
