July 2020 Monthly Currency Report for SME’s
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Protect Your Business with Monthly Currency Reports
Our free monthly currency exchange report 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 business. Read more about the impact of exchange rates on international commerce.
Download our free monthly currency bulletin and to keep up to date with key events throughout the month. The free monthly currency reports analyse historical charts and provide the basis for discussion with stakeholders across your foreign exchange business. The monthly currency report provides a useful resource and meaningful insights for currency risk management policies.
For more helpful information for small and medium enterprises, check out our guide to trade finance for UK SMEs.
GBP – June in review
Economic collapse still possible
- Bank of England adds more support
- Activity indexes recovering
- Lifting of restrictions already in doubt
- Sterling driven by mixed signals
GBP – July what to watch
lifting lockdown uncertain
- Cut in VAT to provide short-term benefit
- Hospitality opening on July 4th
- Sunak facing dilemma over further support
- Possible second wave depending on common sense
USD – June in review
What constitutes a second wave?
- Kudlow in confused state
- Trump rally a demonstrable failure
- Fed Chair on the ball
- Dollar reacting to several drivers
USD – July what to watch
Trump struggling to influence
- Biden making poll advances
- Unruly States to see huge jump in infections
- Decision over job support needed before expiry
- Jobless rate to remain high
EUR – June in review
No progress on Pandemic Relief
- Germany and France unable to promote plans
- Frugal Four still and issue for progress
- Nations going it alone to support their economies
- Euro suffers as EU Commission dithers
EUR – July what to watch
Recovery to be sporadic
- Lack of cooperation doesn’t bode well for the future
- Macron and Merkel heading unity effort
- Intra-region trade the key despite tariff threat
- Breakup fears remain
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