Pound Sterling has had a nice little run lately.
Against the Euro, the Pound has been trending up for the past 3 weeks.
And against the US Dollar, the Pound is getting close to 1-year highs.
No doubt there is optimism built into these rates.
The press is reporting that a Brexit trade deal may come as early as next week.
That would benefit the Pound more than the Euro, though both currencies would be expected to lift as a result.
But the gains may not last if the deal is thin on detail.
If all we get is a high-level ‘handshake’ deal (quite likely), then the reality is negotiations could continue for years to come.
That’s not going to do either currency much good.
Meanwhile, the US Dollar is grappling with election uncertainty.
We all know a smooth transition in the White House isn’t going to happen.
So expect a bumpy ride for global markets over the coming months.
How can we help You?
Exchange rates can move suddenly in these extraordinary times, so please make sure you discuss your options with our team to mitigate your currency risk.
To speak to a trader, call us on 01872 487 500.
To get the latest rates, click below.
Thanks For Reading, What Next?
Have a great day, Geoff Lambourne - Direct Dial me on 0044 (0)1872 487 470.
Current rates:
Wednesday 18th November 2020 at 09:30
£1.00 GBP = 1.1184 EURO
£1.00 GBP = 1.3288 USD
£1.00 GBP = 1.8149 AUD
£1.00 GBP = 1.9195 NZD
£1.00 GBP = 1.7373 CAD
£1.00 GBP = 20.3613 ZAR
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