Sterling struggles ahead of expected reduced lock down restrictions

By Luke Dyson

As April draws to a close sterling has struggled to replicate its gains found earlier on this month following a sharp drop a few weeks back due to the Astra Zeneca scare for under 30 year olds. However following this It is clear sterling is at current holding its strength with less than a cent inter day movement for GBP/EUR for the last couple of days. With expected reduced lock down restrictions pending come May this is massively positive for sterling and we should in theory see some sterling gains for the dollar and euro providing travel restrictions begin to lift. This lock down positivity however has been temporally counteracted following suspected comments from Boris being leaked from earlier in the year. With statements such as “no more lock downs let the bodies pile high”  being thrown around. Whether this is true or not it has not done the UK any favours in the current circumstances and has added to the uncertainty for the general UK population if the numbers were to beginning to climb for a third time.

With sterling not making the gains that we are potentially looking to expect in the coming weeks from reduced lock down restrictions, it is an excellent time to be buying sterling with the help from Boris’ supposed comments keeping the uncertainty high and sterling strength down. make the most of the current dip as the UK is excelling with its vaccine programme , day by day bringing the old pre covid life back.

If you have euros or dollars to sell please don’t wait for the market to drop, although there is a lot of uncertainty still with the virus,  the near future is beginning to look very positive with travel. Please get in contact with your currency consultant today to see what we can do to limit your risk.