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Pound Rallies Against US Dollar & Euro

July 12, 2016 2:24 pm Published by

The Pound rallied today following the news that Theresa May is to become the United Kingdom’s next Prime Minister.

We were not expecting a new British PM for another two months, so Theresa May’s ‘virtual coronation’ has put confidence back into the Sterling and property stocks.

Pound Sterling rose against the Dollar to USD 1.3175 today and was over 1% higher against the Euro at €1.1874.  The FTSE 100 also hot a fresh 11-month high before falling back to 6,683.28.

GBP – USD

gbp to usd currency chart

GBP to EUR

gbp to eur currency chart

 

Managing your Risk – Place an Order

When faced with a volatile market, it is important to plan ahead for your currency needs to ensure you are getting the best exchange rate in the market.

Our Products and Tools will help you to manage your risk.  If you are selling Pounds to buy Euros, Pounds to buy Dollars or another of our 31 different currencies; placing a Profit Order allows you to select your desired rate and FTT will monitor the market for you. If this rate becomes available at any time, we will make your booking and confirm via email.

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This post was written by Kayleigh Driscoll

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