EU leaders made two surprise announcements yesterday, nominating Ursula von der Leyen, the current German Defence Minister, as President of the European Commission, and Christine Lagarde, Managing Director of the IMF, as President of the European Central Bank. Both are not without controversy, as von der Leyen has been roundly criticised in her current position, while Lagarde has previously been convicted for dereliction of duty while Finance Minister in France.
In the UK, a gloomy speech from Mark Carney, hinting at a possible rate cut, has helped to keep the pound low. Despite poor expectations for the US’s forthcoming balance of trade figures, the dollar is still benefitting from a weak pound.
Between Brexit, European nominations and on-going US-China negotiations, there’s a lot of unpredictable factors that can impact the markets in the coming weeks. Protect your money against this by locking in your exchange rate with a forward contract today. Call your Personal Trader on 020 7898 0541 to get started.
