As we can expect, there’s a lot of volatility in the markets as we approach the election. Yesterday morning, the pound hit a 31-month high as a poll showed an extended Conservative lead, only for the rally to fade following the next poll, showing a smaller lead. This evening, we’ll see the release of another poll which could cause the pound to move.
Positive data from the eurozone did briefly help the euro, as figures showed an unexpected uptick in investor confidence. However, poor forecasted economic sentiment data today could have the opposite impact.
The deadline for the US’s next tariff imposition is 15th December, and, with little progress seemingly made so far, the uncertainty over whether the tariffs really will be delayed is starting to affect the markets.
There’s a lot that’s unpredictable at the moment, and no-one can say exactly where the pound might go. We can, however, consider certain scenarios that might be likely, so you can better plan ahead with the election coming up. Don’t miss our recent infographic explaining the major potential outcomes of the election and what it could mean for anyone transferring money soon.
For further guidance and to discuss your transfers, do call your Personal Trader on 020 7898 0541.
