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We are getting very close to the General Election, only thirty six days in fact. Historically, in the build up to a General election we will see the currency in question drop significantly.
This is due to economic and political uncertainty, Although we saw gains for Sterling against the Euro I predict the gains to be short lived. The 2010 General Election saw the pound drop over seven cents and the current election is one of the tightest for some years.
Sterling weakness may continue after the election. I think it may be a while before we see some stability with the EU membership debate sure to take centre sage post election.
If you are a Euro buyer, it may cost you to procrastinate, hanging on for that extra buck. Purchasing now will meaning buying close to a seven year high. Who knows where GBP/EUR will be say by the end of April.
Thank you for reading today’s Blog, I would greatly appreciate any feedback you have and would take pleasure in replying personally. I am more than than happy to assist you with any of your currency requirements. Feel free to e-mail me at [email protected] or call on 01494 787 478 and ask for Daniel Johnson.