What an incredible night for exchange rates!
From the moment the exit polls were released showing a strong predicted outcome for Conservatives, the Pound has prospered. We’ve seen highs over the 1.38 level which is a far cry from the 1.33s seen yesterday!
I personally feel that a Conservative majority is the most realistic outcome, as at time of print there are 14 constituencies left to count with only 5 seats needed! If we see this outcome then there’s a good chance of a further Sterling spike.
The Pound is an incredibly volatile currency this morning – Ensure that it works in your favour!
BREAKING NEWS – Nigel Farange has missed out to Conservatives in the Thanet South seat. Will he now step down??
All is not quiet today on USD exchange rates, as Nonfarm Payroll and unemployment figures are due out at 13:30. An improvement in the unemployment figure is expected, so a gain for the Dollar is potentially on the cards. I’d be inclined to get Dollars bought prior to the release, as we may close the day out a lot closer to 1.50…
Finally the Australian Dollar is back in focus for AUD Buyers. 1.95 and above have been see which given no substantial AUD weakness is expected – I’d be inclined to take advantage, should the requirement be short term.
Feel free to get in contact today – its an incredibly volatile day and timing your exchange correctly could avoid you losing thousands on the exchange. The direct line to the trading floor is 01494 787 478 or drop me an email [email protected]