Good morning,

Figures released this morning have revealed that the UK economy continued to grow throughout August, but not quite at the rate that analysts were expecting. Even with the Eat Out to Help Out scheme running throughout the month, the release was not enough to give GBP a boost heading into the final trading day of the week. Following the coronavirus outbreak, which shut down the country, June and July saw the economy bounce back to life as restrictions were eased. That now marks 4 consecutive months of growth for the UK. Doubts are starting to creep back into the economy however, with further restrictions in place, with the potential for another lockdown, and the end of the furlough scheme meaning the road to recovery to pre-Covid levels could be slow and drawn out. Day by day, we are also creeping ever closer to the deadline for Brexit. With no formal agreement announced, GBP will continue to be limited in upside movements off of its own accord.


Have a great weekend. 

Author: Jack Nicholls, Relationship Manager

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