The pound ended the week under pressure from poor retail sales and sterling is still slightly weaker this morning. Expectations of a future interest rate cut continue to grow, so we can expect further uncertainty on the horizon. Meanwhile, Chancellor Sajid Javid made a comment over the weekend about the UK diverging from EU rules.
In the eurozone, construction figures showed an improvement, although not as high as forecast. This week, the main focus will be on a pair of speeches by Christine Lagarde and the ECB’s interest rate decision, although no change is expected.
The dollar is currently strong after a good week, especially for housing starts, showing a 16% increase.
We’re coming closer to the Brexit deadline and there is so much uncertainty in the air over the next year and beyond. What does this mean for anyone making currency transfers? Find out in our latest quarterly forecasts. And, as always, do speak to your Personal Trader on 020 7898 0541 to discuss personalised solutions for your transfers.
