Has sterling’s run come to an end?
Sterling’s recent resurgence against a number of major currencies, the Euro and US dollar included, has come to a fairly significant halt. We have now seen the pound fall over 2% against the single currency and 3% against the US dollar this week.
A significant move has been seen this morning as the market digested the aftermath of Prime Minister Theresa May’s speech at the Conservative party conference.
Her speech has not been particularly well received as she struggled with her delivery on a number of occasions and had to deal with a prankster that attempted to hand her a mocked up P45 document.
Following the speech it has lead to some members of the Conservative Party to call for Theresa May to step down, although many senior members and cabinet ministers, including Boris Johnson, Michael Gove and Jeremy Hunt, praised the speech afterwards.
This political uncertainty has caused a sharp sell off for the pound, a trend that may well continue with continuing Brexit negotiations. Should you have an upcoming international money transfer to arrange and you would like more information regarding the full currency service we provide then please click here
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