Pound climbs following the weekend’s elections

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Pound climbs following the weekend’s elections

Following a politically-focused weekend, the pound has triumphantly emerged this morning, having outperformed its closest rivals: the US dollar and the euro.

As markets have responded to a combination of election results, the easing of lockdown restrictions and the continuation of vaccine rollout success, investors have welcomed the further alleviation of imminent risk. As a result, the pound has gained confidence, climbing close to 1.41 against the US dollar – the highest since February – and almost 1.16 against the euro. 

With the UK economy set to reopen further in just a week’s time, hopes are high for additional economic progress in the coming months.

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