Volcano and grounded planes – will they affect the Pound?

GBPEUR Rejected by 1.17 Price Level Again

Grounded planes and stranded Brits – We wanted cash not ash from Iceland!

Without doubt the biggest story in the news over the past few days has been the grounded planes in Europe and the amount of Brits stranded and businesses struggling off the back of it.

It is clearly going to take quite some time to sort this mess out, and there must be a huge amount of businesses that have suffered greatly let alone the aircraft companies that are losing millions on a daily basis. This in my opinion is now big news – much bigger than the media is allowing it to be.

In a day of people keeping minimal stock many places will be reliant on stock being flown in to continue with their daily work and these hold ups and back logs in my opinion will lead to the Pound suffering even more.

Data is sure to be affected for the month of April in a negative fashion and this coupled with the potential hung parliament lead me to think the Pound has a seriously rocky few weeks ahead against most major currencies.

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