The Pound has been that little bit more volatile than usual in the past week or so as investors and speculators heads now turn towards the upcoming election on 8th June.
As an election approaches you tend to find a currency will get a little nervy and this is exactly what we are witnessing with the Pound at present.
Sterling is moving every time a new poll is released and the latest set of polls are suggesting that Jeremy Corbyn’s Labour party are gathering momentum and clawing back ground on a daily basis.
The reason this is leading to the Pound losing value is mainly due to the fact that this could make brexit talks that little more complicated to carry out for the Government, especially if we end this election with a hung Parliament.
Theresa May initially called the election with the view that she had a great chance of taking a large majority, this would have made her life that little bit easier when trying to push through brexit plans.
All this is currently causing is a great deal of uncertainty and for those that are regular readers you will be fully aware that uncertainty is generally a very bad thing to have for a currency, and with brexit, a pending election and a slightly stuttering economy the U.K is rife with uncertainty which is starting to weigh down on the Pound.
My personal opinion is that we will see Sterling make a fight back in the coming weeks, I have no Political allegiances personally, however I feel that the Conservative party are further ahead than is being suggested and that they will win with a majority. This should then give Sterling exchange rates a good solid boost shortly afterwards, but do beware that over the past year or two we have seen many surprises pop up, so this is certainly not set in stone!
If you have a currency exchange to make involving buying or selling the Pound then what is important is that you have an experienced, proactive and helpful broker on your side. Here at Pound Sterling Forecast we do not only offer up to date market information but all of our writers also work for one of the largest brokers in the U.K.
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