Did you enjoy the TV election debate last night?
Yesterday the pound drifted away from the six-month high it was enjoying at the start of the week, but only fractionally. We know that the pound has been moving higher as the likelihood of a decisive Conservative victory has become more obvious from the polls. But could it be that the markets are starting to see beyond the election and questioning what a Conservative victory might actually mean?
After all, at the start of the year the markets were reacting positively to the idea of Brexit being postponed. That is still effectively on the ballot paper, with a hung parliament surely leading to a second referendum. Or are they remembering that Theresa May was similarly ‘poised for victory’ at the same period in the 2017 election?
So while the debate was on TV and will continue over the next three weeks, anyone with a transaction coming up overseas will be debating the right way to move ahead with their plans and what to do with their currency.
My suggestion would be to follow the advice of that great British TV show of our childhoods, Why Don’t You Just Switch Off Your Television Set and Go and Do Something Less Boring Instead?
For anyone planning a move or property purchase abroad, the exchange rate today is as good as any we have seen in the past three years. You can lock it in with a forward contract today and be living abroad long before Brexit, if it happens, happens.
Call your trader today on 020 7898 0541.
