The Pound has been hitting new post-Brexit vote highs on almost a daily basis against the US Dollar over the past few days, and the Pound is also gaining ground on all other major currency pairs also.
So far this month the Pound has managed to put itself on track for its best month against the US Dollar since 2010, as it’s already risen by over 5% so far after going through the 1.42 mark earlier today.
Although the gains against the Euro haven’t been quite as dramatic, the GBP/EUR pair has still risen to around an 8-9 month high which should give some perspective to those planning on making a currency exchange involving the Pound and the Euro.
Generally speaking, the Pound has benefited from improved sentiment as the Brexit transitional period and trade conditions are expected to be agreed soon, with the Brexit not looking like it’s going to be such a shock to the economy or at least not as dramatic as many had expected.
Today the Pound has been boosted as it’s emerged that the number of people in UK employment in the UK jumped to a record high in November. One issue that may weigh on the Pound in future is wage growth as it’s not keeping up with the rate of inflation, making the cost of living in the UK increase.
If you have a large currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency. A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Joseph Wright) on email@example.com and I will endeavour to get back to you as soon as I can.