By Luke Dyson
As we draw to the end of the month we have seen a dramatic jump in sterling strength against the euro and dollar, with GBP/EUR now trading at the highest point since August 2022, making it an excellent buying opportunity. However, will these highs last?
We are in for a turbulent time ahead with the General election nearing on the 4th July , the nearer we get the more likely markets will adjust in accordance with what the likely outcome will be.
Also in the weeks to come we have the Bank of England interest rate decision, which again is more than able to significantly move sterling strength based on its outcome. This is scheduled for the 20th June.
Prior to this we also have the Fed US interest rate decision which more than likely will adjust dollar strength against the pound.
For the weeks to come this is a heavily data weighted month, with the added tensions of the general election. This combination has some serious power to do some damage. Given where the current market is at present, consider taking advantage of this current buying opportunity.
It is likely markets will begin to move shortly, remember by holding off for hopes it will get better still, risks the opposite moves being made by which time it can be too late. Please get in touch with your currency consultant at A Place in the Sun Currency today, we will be able to run through different strategies that we can offer and assist in limiting your risk in the potentially turbulent weeks to come.