12/05/2020

Lockdown roadmap released


GBP

Sterling remains under pressure after Boris Johnson laid out his roadmap for re-opening society, with August being most likely when the majority of the economy reopens.

While the cautious approach is to make sure the UK eventually wins the battle against covid-19, UK businesses will be pushed to their limits during months of grim economy.

Compared to the UK’s European counterparts, particularly France and Germany, the UK’s road to recovery looks to be a lot slower and drawn out. UK and EU trade talks are also set to continue this week with the key topics being market divergence and fishing rights.

USD

The US Dollar remains pretty steady, with the Euro still being weighed down with their ongoing battle over their stimulus programme.

Without much data out this week, a key milestone was global coronavirus cases rising above four million. Despite President Trump continuing to blame China for the extent of the outbreak, there still seems to be strong underlying support for the Dollar as the top safe haven currency.

May 13th – 12pm BST – Join our live webinar on ‘Managing Currency Exposure during Covid-19’ at https://zoom.us/j/98412333269


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