Voting began for European elections this morning and, with the Brexit Party polling with the greatest vote share, and rumours of an imminent leadership change, the pound is under significant downward pressure against the euro and dollar. Elections results will be released on Sunday, but we can expect plenty more volatility on the horizon past then, especially approaching the Prime Minister’s promised vote in June.
Meanwhile, it’s an extremely busy day for the Eurozone. Fears over a Eurosceptic rise are putting pressure on the euro, too, but it has been helped by positive economic releases from Germany this morning. Later today, we will see the ECB minutes released.
The dollar is still strong as trade tensions continue to escalate, with China saying it will ‘fight to the end’ as more companies said they will not work with Huawei.
It’s not too late to protect your money against this volatility – simply call your Personal Trader on 020 7898 0541 and lock in your exchange rate for up to a year with a forward contract. That way, you know exactly how much you will be paying, no matter how much the markets move.
