The UK election polls put the Conservatives comfortably in front.
As a result, the Pound is in a ‘happy place’ right now and near to 6-month highs against the Euro.
A Labour win or hung Parliament would create uncertainty – so the Pound is reacting positively to the latest polls.
Further gains from here may be limited as the Pound has already had a strong run over the past few months, and we all know elections can produce unexpected outcomes.
We note the Brexit Party continues to gain ground in the polls. Investors seem fairly complacent to this fact.
Should the Brexit Party find itself holding the balance of power, it could easily derail the recent progress in Brexit and therefore would send the Pound crashing back down.
In short, the election result is a binary bet for exchange rates over the next six weeks.
If you have a currency requirement, you may prefer to minimise the risk inherent with rate volatility.
Please get in touch on 01872 487 500 to discuss market trends and currency purchasing strategies.
To find out the latest exchange 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 6th November 2019 at 10:00
£1.00 GBP = 1.1614 EURO
£1.00 GBP = 1.2882 USD
£1.00 GBP = 1.8667 AUD
£1.00 GBP = 2.0189 NZD
£1.00 GBP = 1.6963 CAD
£1.00 GBP = 19.1273 ZAR
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