Will the pound continue to rise against the majors?

Pound to US dollar rate hit by MPs not being able to find an alternative

There has been some solid improvements in the price of the pound which has caused the pound to rise against the US Dollar. This is an excellent opportunity for clients looking to purchase USD with the pound which could easily be disrupted in the future. If you are holding on waiting for the pound to rise, June could present some excellent opportunities which might not last.

The most important driver on sterling will continue to be the outlook on Brexit which is giving investors plenty to discuss as a final deal remains a mystery. The pound will potentially drive higher if at the EU Summit on the 28th June, investors are granted some fresh new on just what the final trade arrangements between the UK and the EU will actually be.

Ahead of this important political development for the pound, we will also have a series of vital economic news which will include an interest rate decision for the UK and the United States. With both central bank in a process of change as they determine future policies the scope for volatility across all rate is high.

Personally, I think the pound will gently drive higher as we learn of more reasons to be positive. The worst fears on both the political situation and the economic news is not being realised, this should gently help the pound to rise. If you are interested to find out more about where rates could go and some fresh targets, please contact myself Jonathan on jmw@currencies.co.uk