Visit the FairFX sponsor area

18th December 2019

Pound spikes as conservatives win general election

This morning we learned that Boris Johnson will remain as the UK Prime Minister after the Conservatives won with a 72 seat majority (having won 361 seats with 648 of 650 seats declared) which saw the pound react positively as the results of the vote were announced.

In response to the news, the pound has climbed 2% to 1.206 against the euro compared to yesterday, a high last reached in 2016. The pound has also risen 2% to 1.347 against the US dollar, a 19 month high.

Johnson called the general election as he felt a new Parliament was needed in order to break the political impasse over Brexit. Over the coming days it’s likely we’ll see the pound embark on a rocky journey as we wait to find out how Brexit will play out.

Get in touch with your dedicated dealer to discuss how what we can do for you in the aftermath of the election or call the dealing desk on 02079654862.

http://www.fairfx.com/refer/panacea

FX/Currency

Registration

Free Registration and CPD

Read More

Related Articles_

US jobs numbers cannot push USD higher.... yet

Say what you want about the Bank of England, and that’s what I’m paid to do, but they are hammering home the message in the press that borrowing costs may increase sooner rather than later.

Read More

USD swoons as stimulus bets increase

Sterling was the best performer globally yesterday with the market taking two comments from the EU negotiators positively.

Read More

Panacea preferential rates on foreign payments with FAIRFX

FairFX offers a bespoke currency management service to help individuals and businesses maximise their overseas currency exposure. FairFX have helped over a million customers manage their currency requirements. Making same day payments with zero handling fee’s saving on average around 4% compared to high street banks on our clients currency exchange rate.

Read More

You need to be logged in to comment on this article