Currency round-up webinar: October 2020

Currency round-up webinar: October 2020

Volatility by any means

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Watch our 'October monthly currency round-up' webinar

October felt like a month of ‘one step forward, one step back’ for the UK, after a September full of volatility. Any gains sterling made against the euro and US dollar seemed to be handed back quickly each and every time. Retail sales figures rebounded by 17% while, to the relief of investors, the Bank of England played down the threat of negative interest rates. At the same time however, local restrictions were re-introduced in many areas to combat the growing second wave of Covid-19, and another Brexit deadline passed with no conclusion or apparent progress.

Struggles with the pandemic were also seen on a global scale with many economies unable to open up fully due to a rising number of cases and restrictions re-introduced. Debate raged on in the US over further stimulus fiscal packages, while the world braced itself for the upcoming election on 3rd November.

 

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