Sterling approaches two-week peak before UK vote

Sterling approaches two-week peak before UK vote

On Thursday, the British pound traded close to a two-week high, backed by hopes that Prime Minister Theresa May's party will grasp a majority in Britain's general election, while the common currency was intact ahead of a ECB policy announcement.

The British pound stood still at $1.2956, trading close to Wednesday's high of $1.2970, its highest value since May 25.

On Wednesday, opinion surveys revealed that May is on course to drastically increase her majority in parliament, suggesting her gamble to call the vote to shift to a firmer position in Brexit talks will pay off.

If the Conservative Party manages to win a decisive majority of more than 50 seats, it would likely be seen as an upbeat result for the British pound, as some financial analysts state.  

The common currency didn’t change, keeping to $1.1254. The common currency had hit a peak of $1.1285 in June, demonstrating its highest value in almost seven months.

The ECB is supposed to keep its monetary policy intact on Thursday. That’s also true for its 2.3 trillion euro bond-buying program.

Similar

Latest news

Greenback edges down

On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera