Pound Strengthens Ahead of UK ElectionJune 8, 2017 10:13 am
Brits are heading to the polls today to vote in the UK’s general election.
Theresa May and Jeremy Corbyn are the two front-runners in the race to become the UK’s Prime Minister. May announced a snap election on April 18th and parties have been campaigning fiercely to win your vote.
The latest polls have shown that the Conservatives have a (very slight!) edge over the Labour party which would mean a May victory leading a post-Brexit Britain.
How is the Pound Performing?
The Pound has strengthened over the last week in the lead up to the election. We are currently trading at 1.152 against the EUR and 1.296 against the US Dollar. For a live exchange rate you can login to your FTT account or use the Rate Checker on our Home Page.
Securing an Exchange Rate
If you need to exchange currencies, you can make a booking today to lock in your rate. This means that if the rate fluctuates overnight whilst we are waiting for the result of the election; you will not be affected.
Alternatively, you can place a Stop-Loss Order. Enter the lowest exchange rate you are willing to allow the market to drop to and your booking will be placed if the rate falls to this level. This means that if it drops further than the exchange rate you have chosen, you won’t lose out on the rate.
Another option is a Profit-Order. Enter a rate higher than what the current market is offering and it will trigger if it climbs to this level. The great thing about placing an Order, is that you don’t have to monitor the market. FTT will do that for you – 24/7!
If you haven’t already, take a couple of minutes to sign up with FTT and gain instant access to your account. There’s no obligation to use our services but with rates up to 5% more competitive than your bank, you will make instant savings on your money transfers!
Our friendly UK-based Support Team will talk to you about which of our free services and tools might benefit you most.
Contact us on [email protected] or call us on +44(0) 203 603 8940.Tags: GBP to EUR rate, UK general election
Categorised in: News
This post was written by Kayleigh Driscoll