After weakening against the euro at the beginning of the week, sterling hit a 6-month low against the dollar yesterday. However, it did recover slightly after the Prime Minister and the Chancellor revealed more measures to boost the UK economy.
The euro also suffered yesterday, as the latest economic data releases raised a red flag for the German economy. Meanwhile, despite similar fears in the US, the dollar continues to benefit from its safe haven status.
On a more positive note, the last makeshift hospital in Wuhan, China has been closed as the infection rate has fallen. Yesterday, China reported 19 new coronavirus cases, down from 40 a day earlier.
These are unprecedented times; however, we are operating as usual. If you have any questions about putting in measures to protect your budget from the volatility of the currency markets, please contact your Personal Trader today on 020 7898 0541.
