As the British government attempted to clarify its lockdown strategy yesterday, general expectations are that it will be slightly behind the easing in mainland Europe, where the virus may have peaked earlier. The expectation for many is that this will likely lead to a ‘deep U-shaped’ economic recovery, rather than an immediate upward tick.
In Europe, there is also more uncertainty over the ECB’s QE programme, with German and the European Commission at loggerheads over a recent ruling from the former’s Constitutional Court.
The US dollar continues to benefit from its safe haven status, and some optimism as the country’s economy ‘reopens’ despite record unemployment.
These are uncertain times, so make sure to protect your money with a forward contract, locking in the same exchange for up to twelve months. Speak to your Personal Trader on 020 7898 0541 to get started today and be sure to download your copy of our Quarterly Forecast if you have not already.
