As children across the country headed back to school, September was a month of ups and downs for the UK and for sterling. GDP figures for July continued the economic recovery as the house price index climbed to 3.7%, the largest gain since 2004. Coupled with the USA’s pandemic and election struggles, GBP/USD rose to a 2020 high, while sterling initially held strong against a Eurozone falling into deflation for the first time in 4 years.
Challenges sterling faced, however, included deadlock over Brexit negotiations, the government’s overriding of the Withdrawal Agreement, a second wave of coronaviruses cases continuing to rise and a fresh set of restrictions put in place across the country.
Discover the highs and lows of the FX market in September in more detail, also covering:
Brexit trade talks
The UK’s overriding of the Brexit Withdrawal Agreement
Rishi Sunak’s announcement of Winter Economic Plan and job support scheme
BOE’s holding of the interest rate and quantitative easing
The US election race
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