UK debt exceeds output


Sterling had its worst week since mid-May after data releases on Friday showed government borrowing had hit record highs. Britain’s public debt exceeded economic output for the first time since 1963 which illustrates that the coronavirus has had a damaging impact on the British economy and an economic recovery is a long way away. Further stimulus provided by the Bank of England provided little support for the pound also.

Brexit related risk also continued to weigh down the pound as a lack of progress is impacting sterling. Boris Johnson has told French President Emmanuel Macron that a post trade deal must be concluded by autumn and Angela Merkel also echoed these thoughts.


The dollar rose to its highest weekly gain in a month as fears of a second wave of coronavirus increased demand for safe haven assets like the dollar. With infections rising in the US along with a new outbreak in Beijing, this has raised concerns of another global lockdown.

Key announcements


Why choose RationalFX?

Based in the heart of London’s financial district Canary Wharf, RationalFX has traded over $10billion in currencies across the globe. Take advantage of our competitive exchange rates, market expertise, suite of FX products and online payment platform when you make bank to bank transfers in over 50 currencies worldwide.

Whatever your reason for making overseas payments, we’re confident our currency specialists can save you time and money while providing peace of mind. Call our team now on: +44 20 7220 8181