The dollar is down against the pound this morning, after figures showed the US economy contracted by almost 5%, reaching a 12-year low not seen since the financial crisis.
The euro has made slight gains against the pound, bolstered by talk of further stimulus from the European Central Bank and the announcing of plans for slowly easing lockdown in France and Spain.
Today is a busy day for economic releases. It has begun with Spanish GDP figures early this morning, which show the country’s economy to continue to decline. In Germany, the Economy Minister has warned of the potential for the ‘worst recession in the Federal Republic [of Germany]’s history’.
So can anyone really predict what’s ahead for the currency markets? Read our latest quarterly forecast for April-June and beyond to find out what the major banks are predicting – and what you can do with this information to protect your capital.
