The pound hit a three-year high against the euro last week, following the UK election result. Today, as MPs begin to return to Westminster before electing the Speaker tomorrow, the pound is still strong on optimism over a resolution to Brexit.
Sterling’s gain was euro’s weakness, and the single currency dropped last week after the election. This week will be a busy one for data releases, starting with PMI figures from the eurozone and major economies today.
The dollar also fell to five-month lows after the election result, despite positive news as China and the US confirmed a phase one trade deal.
Although the pound is strong today, there’s no guarantee how long this will last. Lock in your rate today and you can enjoy peace of mind for up to twelve months, knowing that you won’t lose out if the markets drop.
Speak to your Personal Trader today on 020 7898 0541 to get started with a forward contract.
