After a strong day yesterday sterling is slightly weaker this morning, possibly due to negative global market movements and warnings from the UK’s tax and spending watchdog that coronavirus could lead to the economy shrinking by as much as 35%.
European leaders have come to an agreement over a financial rescue package to help the countries hardest hit by coronavirus, although the idea of coronabonds has not made the final deal after opposition from Germany, the Netherlands, Austria and Finland.
The dollar looks ahead to retail figures later today, expected to show a sharp drop.
Make sure you speak to your Personal Trader as soon as possible to protect your money from this uncertainty. Call them on 020 7898 0541 to find out how to secure the same exchange rate for up to twelve months with a forward contract.
