UK General Election Strengthens British PoundMay 12, 2015 10:29 am
It is good news for everyone holding Sterling as the currency gained huge strength following the election results last week. The GBP/EUR rate increased to 1.39 whilst GBP/USD broke through the 1.54 mark today. The GBP/USD rate has not been 1.54 since February this year! Now would be a good time to secure a rate and book a Forward so if the market moves against you, you won’t have to pay any more for your currency.
The Euro has been quite volatile over the last week, firstly strengthening from news that Greece has made its latest interest payment to the International Monetary Fund and weakening against the Pound after the British Election results. Take a look at our Currency Charts for an up to date exchange rate.
Jobs data revealed by the US was much better than expected which boosted the US Dollar and saw it regain some of its losses it has suffered earlier on in the week. The USD weakened on Friday due to the results of the general election.
Categorised in: News
This post was written by Kayleigh Driscoll