020 7898 0500This week, sterling has been able to take full advantage of a growing belief that the UK public will vote to remain within the European Union next month, soaring across the board and pushing to a 3-month high against the euro. A quiet start to the week saw sterling trade largely sideways against its major trading partners, as investors remained nervous about the upcoming referendum, but Tuesday saw sterling gain over a cent against both the euro and US dollar as the release of a number of polls showed a growing support for the campaign to keep Britain within the EU.
Sterling continued to move in a positive fashion on Thursday, reaching a high we last saw in February against the euro and pushing close to a 2016 high versus the US dollar. Positive sterling sentiment however started to cool as Thursday progressed, despite economic growth throughout the previous quarter meeting the 0.4% target, but sterling still remains in a strong position heading into today. Should there be any surprises from the ongoing Group of Seven (G7) meetings, sterling could find some further support.
If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.
