While Boris Johnson’s perilous premiership may be obsessing the British public and media, it’s European peace being on the line in the Ukraine that has sent stocks – and sterling – crashing at the start of this week.
The issue is not just potential conflict, but also the effect of economic sanctions that could be imposed on Russia, and potential disruption to Europe’s gas supplies from Russia, that sent stocks crashing yesterday.
Sterling fell sharply over the day yesterday, dropping by at least 0.5% during the course of the day against the euro.
Against the US dollar, sterling weakened by almost one cent yesterday and is now roughly 2% off its highest point this year, albeit still up on the month.
Make sure any upcoming transactions are protected against the risks of sudden market movements. Secure a fixed exchange rate now with a forward contract; call your Personal Trader on 020 7898 0541 to get started.
