The pound has had a slight tick downwards this morning after inflation fell to 0.8%, and the retail price index reached 0 month-on-month.
In the eurozone, positivity over Macron and Merkel’s proposed economic rescue package has helped the euro against the pound. Although there is disagreement between member states, the fact that it has both French and German backing is not insignificant.
Optimism over a vaccine had previously risen after US company Moderna claimed to have produced antibodies in humans, but, with little data to back this up, that optimism has fallen, putting pressure on the dollar.
This is a very volatile time, but it’s simple to protect your money. Simply secure a fixed exchange rate with a forward contract by calling your Personal Trader on 020 7898 0541. That way, you can budget with confidence, knowing exactly how much you will pay.
