A bit of good news can make all the difference…
Pound Sterling surged against all the other major currencies yesterday after the UK recorded a 6-year high in business optimism.
The knock-on effect is the Bank of England is likely to back away from any interest rate cuts – which is Pound positive.
Pound Sterling now finds itself at new highs for 2020.
It’s also a reminder that there’s more to life than Brexit.
But alas, we all know the issue of Brexit will be back in the news soon enough. And that means exchange rate volatility.
If you need to buy Euros and would like to take advantage of the favourable move, consider locking-in a rate.
If you need to sell Euros at present, you need to weigh up whether you can afford for the rate to fall further.
Although the GBP/EUR rate has been higher, it’s also been a lot lower too.
Sometimes certainty is the easiest path.