Election only days away

6 December, 2019

Ashley Finill

This week sterling has been handed a big boost against both the Euro and the Dollar as a 2nd YouGov poll has again suggested a conservative major is increasingly more likely. On the back of the latest poll, Sterling rallied well over a cent on both the majors and we are now trading at nearly 8-month highs. This spike for Sterling could be a sign of good things to come but don’t be fooled to think this suggestion from the last poll means that a majority for the conservatives will be the outcome. With this expectation being largely being priced into the market already, a hung parliament or a labour win will certainly cause upset to Sterling’s recent gains and would likely be eradicated overnight as uncertainty sets in and investors steering clear of the Pound.

If you have a requirement for currency coming up and you don’t have a gambler’s mindset it may be worth securing your currency today at the 8-month highs we are currently seeing and not leave it to chance. To put in perspective a purchase on a property for €150k is nearly £2000 cheaper than it was just over a month ago, certainly not something to turn your head at. It is also worth mentioning again that a conservative majority is already being priced into the market so anyone holding out for considerable gains next week may be surprised for either a slightly climb or an even bigger costly fall.

Should you want to take advantage of today’s rate please get in contact with your broker today to discuss your options.