Buying Euro and Dollar rates slip as election uncertainty heightens (Joshua Privett)

Buying Euro and Dollar rates of exchange tumbled on Friday before the bank holiday weekend with new polling figures smashing the expectation of a pending Conservative landslide.

The Labour comeback in the public mind is staggering given the twenty plus point lead identified at the beginning of the campaigning period by the same polling company which is now saying it is closer to 4%.

With only 10 days left now to polling day, this truly is cruch time for anyone with a Euro, US Dollar or Australian Dollar buying or selling requirement.

Previously the positive elements for the Pound of a Conservative victory (continuation in policy, stability in Brexit negotiations, an elected PM with a mandate for negotiating on the UK’s behalf) had been priced in, as we can see now financial institutions are uncertain towards the result.

4% was the average the Remain camp were ahead in the polls before the EU Referendum…

So moving forward, GBP/EUR, GBP/USD and GBP/AUD will continue to be influence by the changing tie of UK polls, but unless the Conservatives re-establish a sizeable lead, it’s likely the Pound will continue to deteriorate with the lack of certainty towards the election’s outcome.

So far with the bank holiday we can see the Pound recovering slightly after the more severe losses on Friday, but such movements are a common minor rebalancing.

Anyone with a Euro, US Dollar and Australian Dollar requirement in the immediate term may be wise to contact me to discuss a strategy on how to approach the vote to secure any targetted peaks and ensure you are better protected from any downside risk.

It could even be that the slight resurgence on exchange rates recorded today will be the best buying levels available before the election itself.

I have never had an issue securing more commercial exchange rates than what is on offer elsewhere. Contact me over the bank holiday weekend on [email protected] while markets are closed for a short discussion concerning your personal situation.