24/02/2021
IS THE POUND HEADING FOR 3 YEAR HIGHS?
Sterling continues to defy expectations, against the US Dollar, the Pound has surged to its highest level in over 1,000 days. If it climbs another 1% it will approach 5-year highs.
The recent gains are not limited to USD, a similar uptrend has formed against the Euro, Swiss Franc, Canadian Dollar and Japanese Yen.
We aren’t getting carried away, though, the golden run is being attributed to Britain’s speedy vaccine roll-out. At some point, other countries will catch up – which could see a reversal of fortune. There is also talk that the Bank of England is getting uncomfortable with the Pound’s appreciation and may be forced to act.
If you have a requirement to purchase EUR or USD with GBP, please do consider locking in some of the recent gains.
As part of our service, Key Currency can monitor exchange rates for you, help make sense of your budget and find you the most suitable currency solution.
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