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Pound hits highs on election polls

The Pound has hit highs against both the US Dollar and the Euro today, marking the second day of strength for Sterling on election optimism. The Pound to Euro exchange rate has been trading at its highest level since May 2017, while the Pound to US Dollar exchange rate has been trending at its strongest levels since May 2019. Markets expect the upcoming election to reveal a Conservative victory, which could lead to an orderly exit from the EU at the end of January after years with very little direction. Although the gap between the Labour Party and Conservatives is closing, the Tories still maintain around a 10 percentage point lead. A YouGov poll published on Tuesday evening showed 42% for the Conservatives and 33% for Labour. 

To discuss how you can take advantage of this positive market shift, speak to your Dealer or call us today on +44 (0)20 7989 0000. 

Today’s interbank highs so far:

GBP/USD – 1.3109
GBP/EUR – 1.1822
GBP/AUD – 1.9159
GBP/NZD – 2.0085
GBP/CAD – 1.7395
GBP/CHF – 1.2950
GBP/NOK – 12.0294
GBP/SEK – 12.4760
GBP/DKK – 8.8325
GBP/JPY – 142.416

Correct as of 14:35