Sterling exchange rates remain close to 2017 highs, but will they hold their ground at these levels? (Joseph Wright)

The Pound is holding its ground against the major currency pairs after rising in recent months.

The currency is trading at 2017 highs against a raft of major currency pairs, particularly the commodity currencies such as the South African Rand as well as the Australian, New Zealand and Canadian Dollars. This move can be attributed to both impressive UK economic data coupled with the certainty the UK’s upcoming election is so far demonstrating as it appears the conservatives will win, and therefore be able to carry out their Brexit plans.

At the same time these currencies have come under pressure due to the weakening commodity prices, therefore the gains for the Pound have been magnified.

The Pound is also trading at its highest level against the US Dollar so far this year as the Trump Train appears to be slowing, and the Fed Reserve Bank in the US is coming under pressure to carry out it’s planned interest rate hikes this year.

The Pounds relationship with the Euro is similar although the pair are currently around three-quarters of a cent from their year high. Many analysts had expected to see the Euro strengthen in the wake of Pro-EU candidate Macron but this hasn’t materialised and we’re seeing the Pound hold it’s ground at the top of its current trading range.

I personally think the Pound is performing well at the moment, and I think those with a currency requirement involving the selling of Pounds would be wise to consider the current levels for at least part of their transaction.

If you have a large currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency. A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Joseph Wright) on [email protected] and I will endeavour to get back to you as soon as I can.