Beyond Currency

The Office for Budget Responsibility (OBR) has predicted that the economic downturn could see unemployment rise to two million and their estimate for QoQ contraction is the most bearish of the recent calculations at 35%. In their estimation, that could lead to a 13% year on year contraction.

Beyond Currency Market Commentary:

Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.

It is fairly clear that the predictions for the slowdown in the UK economy between April and June have little chance of being accurate. A poll of economists conducted last week by the BBC predicted a 14% slowdown. The latest prediction attributed to Chancellor Rishi Sunak puts the figure at between 25 and 30%.

Beyond Currency Market Commentary:

Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.

The pound reached something approaching equilibrium yesterday as an apparent improvement in the Prime Minister’s health was balanced against the economic effect of the continued lockdown.

While announcing £750 million of help for the UK’s charity sector, Sunak answered questions about the pace of help finding its way through the system to both workers and businesses.

Beyond Currency Market Commentary:

Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.

The funds allocated by the Government to bailout all sizes of companies affected by the Covid-19 pandemic are failing to reach their intended destination due to bank’s unwillingness to lower their security requirements.

Beyond Currency Market Commentary:

Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.