It was more of a nudge than a surge…
But the Pound has crept up to 6-month highs against the Euro this week.
With Nigel Farage ‘gifting’ the Tories some seats, it has increased the chances of a clear election win for the Conservative Party.
This news is perceived as positive for the Pound because it reduces the risks of further Brexit uncertainty.
At present, the election and Brexit are overshadowing economic news. However, we note that Moody’s (the debt rating agency) downgraded the UK’s outlook to negative and there is talk that the Bank of England might need to cut interest rates.
Both of these factors could drive the Pound down once the market sees beyond the immediate events.
If you would like to some guidance on market trends, exchange rates or currency purchasing strategies, please get in touch.
Thanks For Reading, What Next?
Have a great day, Geoff Lambourne - Direct Dial me on 0044 (0)1872 487 470.
Current rates:
Thursday 14th November 2019 at 10:30
£1.00 GBP = 1.1689 EURO
£1.00 GBP = 1.2859 USD
£1.00 GBP = 1.8928 AUD
£1.00 GBP = 2.0118 NZD
£1.00 GBP = 1.7055 CAD
£1.00 GBP = 19.0812 ZAR
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