What happened in August, and how did the currency markets move over the course of the month?
The UK was encouraged to ‘eat out to help out’, changes to the list of summer holiday destinations that require quarantine kept the country on its toes, and the Bank of England kept interest rates unchanged. August delivered a packed month of ups and downs for the economy, and while sterling hit a new 2020 high against the US dollar, it didn’t yield similar highs against the euro.
Other developments covered in our monthly currency roundup webinar include:
• Stronger than expected economic rebounds in the UK following lockdown • Pressure on the US dollar from the pandemic, tensions with China and the upcoming presidential election • Little progress in Brexit negotiations as the deadline nears
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