The pound weakened slightly against both the euro and the dollar yesterday, but still remains in a fairly strong position overall. Dollar strength and worries over both Brexit and the UK economy are putting pressure on sterling, as well as a decline in global stocks. Formal Brexit negotiations are due to begin again from next week.
Non-Farm Payrolls will be released for the US later today. Any surprises indicating that the US economy is suffering more than expected could have an impact on the dollar. The Chief Economist for the European Central Bank, Philip Lane, will speak later after expressing worries over the rising euro earlier this week.
Make sure you lock in your exchange rate with a forward contract today, so your money isn’t affected by uncertainty. Speak to your Personal Trader on 020 7898 0541 to get started.
