Pound surges after surprise election announcement by Theresa May – Will Sterling strength continue? (Daniel Wright)

The Pound has hit the best levels we have seen this year against pretty much every major currency today as we have seen a vast improvement in Sterling exchange rates.

At roughly 10:00am news came out that we were to expect a statement to the country from Prime Minister Theresa May and it certainly did not disappoint.

May announced that she would seek to have a snap election on June 8th and this led to the Pound having a fantastic day on the markets. Sterling went into the 1.27s against the Dollar, the 1.19s against the Euro, nearly hit 1.70 against the Australian Dollar, over 1.70 against the Canadian Dollar and powered through the 1.81 mark against the New Zealand Dollar.

If you are in the position where you may need to carry out a large currency exchange in the near future then this is fantastic news for you and we have had hundreds of clients call in to take advantage of this.

If you do not have full availability of funds as it stands then you can lock into a forward contract, this is where you can book out a rate for anything up to a year in advance with merely a small deposit, extremely handy when you are committed to buying an overseas property but do not yet have all the funds in your reach.

This is one of many contract types we offer, if you feel that we could help you too then it is well worth getting in contact with me directly. You can email me (Daniel Wright) on djw@currencies.co.uk and I will be more than happy to contact you personally. The company we all work for turns over roughly a billion pounds of currency per year for clients, mainly buying and selling property and we would love to help you too.