The pound is weaker against the euro this morning, due to worries over the possibility of the UK leaving the EU without a trade deal at the end of the year. This Wednesday, Boris Johnson and Ursula von der Leyen will meet at Downing Street for opening trade talks.
The euro has been profiting from this uncertainty, starting the week up against the pound. It has also been helped this morning by a series of positive figures for the service industry, almost all coming in better than expected.
The US dollar ended the week on a weaker note, with concerns of instability following the air strike in Iraq. However, it has started today up against the pound again, with Markit composite and service PMI expected to show growth later on today.
There is a lot of uncertainty ahead. By locking in your exchange rate today with a forward contract, you can guarantee yourself the same exchange rate for up to twelve months, no matter what happens. Speak to your Personal Trader on 020 7898 0541 to get started.
