The Pound enjoyed a small bounce yesterday after Boris Johnson won the leadership race.
But the relief rally may be short-lived.
We now have roughly 97 days until the 31st Oct Brexit deadline.
And the truth is no-one knows how this will play out, including our new PM.
Despite having a new leader, the Conservatives remain deeply divided and have a wafer thin majority.
For these reasons the betting markets still think there’s only a 25% chance of a ‘no-deal’ Brexit happening.
But what that tells you is there is still a lot of potential downside in Pound Sterling as the risks of ‘no-deal’ are still not really priced in.
One thing seems certain, it’s going to be a rocky ride in the next few months.
If you need to sell Euros at present, you might consider taking advantage of Sterling weakness and locking-in a rate of exchange.
On the other hand, if you need to purchase Euros with your Pounds then you need to weigh up whether you can afford for the rate to fall further.
Please contact us directly on 01872 487 500 to discuss this in more detail.
Or to find out current exchange rates, please click on the link below.
Thanks For Reading, What Next?
Have a great day, Geoff Lambourne - Direct Dial me on 0044 (0)1872 487 470.
Friday 26th July 2019 at 12:45
£1.00 GBP = 1.1165 EURO
£1.00 GBP = 1.2431 USD
£1.00 GBP = 1.7940 AUD
£1.00 GBP = 1.8711 NZD
£1.00 GBP = 1.6384 CAD
£1.00 GBP = 17.6015 ZAR
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