May has been memorable to say the least, and while sterling has remained relatively steady throughout, there are four core reasons why the pound has struggled against other major currencies:
The high death toll in the UK compared with peers in Europe
Prime Minister Boris Johnson and wider governmental response to the pandemic
Rumours that the Bank of England will cut interest rates
Brexit is back on the agenda as the UK and EU moves out of crisis mode responding to Covid-19
Join Christopher Redfern, Corporate Dealing Manager here at moneycorp and discover how each of these reasons impacted GBP/EUR and GBP/USD as well as other currency pairings, and learn about how as countries come out of lockdown and economies move into recovery mode, in what way could currencies respond to the following:
The EU joint debt recovery plan
The UK’s furlough scheme and business loans and grants
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