Sterling has continued on its merry way.
With the UK a lot further along in it’s vaccine roll-out, investors are pushing the Pound higher.
Against the US Dollar, the Pound has surged to a 34-month high – it’s been over 1,000 days since the GBP/USD rate was last at these levels.
In fact, the Pound has gained over 20% against the Dollar since its COVID lows last year.
Against the Euro, the Pound has climbed to 10-month highs.
That’s a gain of over 8% since March last year.
These are big moves for currency markets.
But you just don’t know how long the gains will last.
No doubt, other countries will begin to catch-up with their vaccine roll-outs, which would diminish Sterling’s outperformance.
And let’s not forget, the UK economy is still being propped up by enormous government support.
Right now, buyers of Dollars and Euros are in a great position.
For buyers of Sterling, it may be prudent to protect your budget from further losses.
Call us on 01872 487 500 to discuss your individual requirements.
For our latest rates, click on the link below.
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Have a great day, Geoff Lambourne - Direct Dial me on 0044 (0)1872 487 470.
Current rates:
Wednesday 17th February 2021 at 09:10
£1.00 GBP = 1.1504 EURO
£1.00 GBP = 1.3894 USD
£1.00 GBP = 1.7891 AUD
£1.00 GBP = 1.9279 NZD
£1.00 GBP = 1.7639 CAD
£1.00 GBP = 20.3839 ZAR
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