Market update 11/11/19
GBP/EUR at 6 month high as Brexit Party boost the Tories
1 minute readSterling has soared to a 6 month high against the euro on the back of the Brexit Party’s decision to not contest the 317 Conservative-held seats in the upcoming election. This decision offers a huge boost to Boris Johnson’s Conservatives, with the threat of splitting the Brexit vote now diminished, and the likelihood of a hung Parliament lessened.
Coupled with this morning’s GDP data, which confirmed that the UK economy has avoided a recession, investor confidence in the pound has skyrocketed. Hopes grow that a clear election win and decisive Brexit action will prove positive for the currency.
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