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Pound Strengthens After UK Election Announcement

April 20, 2017 3:32 pm Published by

Theresa May has announced a snap UK General Election which will take place on June 8th.

The general forecast is clear win for May and if she does succeed, it will be seen as a vote of confidence in her strategy for leaving the EU. This will also strengthen her position for Brexit negotiations as she claims that Labour, Lib Dems and SNP will only disrupt the process in Parliament.

Britain is still on course to leave the EU on 29th March 2019 but ‘real’ negotiations will only start after the result of the election is confirmed.

The Pound-Euro rate is currently at 1.1925 and has jumped from 1.18 over the last two days following the election announcement.

gbp to eur rate

 

Over the last month we have seen a steady increase in the value of the Pound against both the Euro and US Dollar. We have seen a positive increase over the last three months after the currency tumbled in June 2016 when Brexit was announced.

Placing a Profit-Order will help you to achieve a better rate of exchange than what the current market is offering. Simply login to your account, select ‘Tools’/’Orders’ and enter your desired rate. If your rate becomes available at any point, we will book your money transfer and send you a confirmation email.

Profit-Orders are just one of the free tools that FTT offers. To find out more about our services and to help plan ahead for your currency needs, you can contact our UK-based Support Team. Email support@fttglobal.com or call +44(0) 203 603 8940.

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This post was written by Kayleigh Driscoll

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