The pound has strengthened this morning on the news that the Conservative Party has won the general election with a comfortable majority, securing their biggest win since 1987.
In a post-election speech, Boris Johnson reiterated his pledge to take Britain out of the EU next month and thanked any Labour voters who backed the Conservatives for the first time. With one seat left to declare, the Conservatives have 364 MPs, Labour 203, the SNP 48, Liberal Democrats 11 and the DUP 8.
Christine Lagarde chaired her first monetary policy meeting yesterday, and confirmed that the European Central Bank would push on with the economic stimulus programme, as well as maintain interest rates at zero for the foreseeable future.
The dollar was given a boost yesterday by a tweet from Trump that the US is very close to securing a trade deal with China, although this could be a false start. Currently, further tariffs are expected to kick in on the 15th December, so this also raises hopes that they will be delayed.
The pound has strengthened on the result of the election, but no-one can say how long that will last. With a forward contract, you will lock in today’s exchange rate for up to twelve months, so you know exactly how much your money’s worth, no matter what happens. Speak to your Personal Trader now on 020 7898 0541 to start.
