Sterling Soars on Junker Comments

“We can have a deal!” and with those 5 little words on Wednesday evening, Sterling soared to a sustained fresh 7 week high. It has finally ended the week on a 4-month high across the board.

The currency was up 0.4 per cent against the dollar on Thursday and rising again by the same percentage on Friday morning to reach $1.2581 — its highest level since May. Against the Euro, the Pound touched €1.1330. It is now up 4.4 per cent against the dollar since trading below $1.20 early this month.

These levels are also widely reflected against most major currencies. And there is a good chance they could be exceeded going into next week if the government loses the case, currently being heard in the Supreme Court, on the legality of the prorogation of Parliament.

To discuss how the above may affect you, please contact your Currency Dealer at Heritage Pay on +44 (0) 203 858 7274.

See you next week!