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30 March 2021

 

Sterling remains well supported as the avoidance of a no-deal Brexit, alongside a rapid vaccination rollout in the UK continues to boost sentiment. Lockdown measures eased further yesterday, allowing six people to meet outside for the first time in three months. The government also announced an extension of the business support program, despite a BoE report released yesterday showing consumer borrowing is at a 12-month low.

The US President is expected to announce a $3 trillion infrastructure stimulus program this week. While the intended impact is to boost economic growth, the fear amongst investors is that it could push inflation much higher. This could force the Fed to raise interest rates sooner than expected, although Chair Powell believes price rises will be temporary.

Stock markets began the week in negative territory as global concerns over economic growth weigh on sentiment. Europe is now facing the reality of a third wave, and renewed economic restrictions, which will undoubtedly dampen economic growth further. The political pressure is building in the bloc, and some are now calling for a more nationalistic policy toward vaccine supply.

Trading overseas?  Before you buy or sell currency, discover how you can save on your foreign currency payments with a quote from Fexco. Sign up for a free account or contact us  (Ireland: 1800 246 801   UK: 0800 840 2887) to discuss your payment needs, as we can guarantee to provide a bespoke solution that aligns best with your business.

Please note that this update is provided by Fexco Corporate Payments for your information only. It does not constitute advice. You must rely entirely on your own judgement when making an Order and entering into a contract with Fexco Corporate Payments and any decision you make to buy and/or sell currency is made solely on your own judgement. Fexco Corporate Payments  is regulated by the Central Bank of Ireland and is regulated by the Financial Conduct Authority for the conduct of payment business in the UK

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