Pound continues to gain

23 January, 2018

Nakhil Mahra

With a quiet day on the markets yesterday with no major data out, Sterling continued its momentum from Friday gaining on both the USD and the Euro. The rates currently now the highest since May 2016 against the Euro and the highest since Brexit referendum against the USD providing an attractive window of opportunity to purchase your currency for those of you who have been holding off. Comments made by Macron over the weekend hoping for a good Brexit deal with the UK going down well with the currency markets and saw a half a cent shift through the course of the day. With the ECB meeting later this week and Germany coalition talks ongoing, the current rate against the Euro could be evaporated quickly by the end of the week and see the markets enter a negative spiral.

With the US markets particularly being hit hard with the shutdown yesterday, suffering across the board against its major pairings continuing its recent slide. With a busy week of data ahead for the USD it could see make up some lost ground against the Pound, any requirement coming this could be an opportunity to secure your currency. If your requirement is further off why not take advantage of our forward contract and secure your currency for future use.

With a busy couple of days ahead, stay in close contact with your account manager here at CI to discuss any possible rate implications on your property search and to secure the best rate.