Theresa May’s appointment adds value to the Pound

12-07-2016

The recent political turmoil surrounding the Prime Minister has come to a conclusion with Theresa May being the only candidate left standing and consequently will be the countries new Prime Minister by tomorrow evening. This has helped steady the market with the Pound pushing slightly above 1.18 against the Euro at Market rate.

This may be short lived as a interest rate cut and possible quantitative easing looking more than likely to be announced Thursday at 12PM by the Monetary policy Committee. This will likely see the Pound once again drop back against most currencies.

Those with short term plans should be looking to act within the next 48 hours to take advantage of the current spike and avoid disappointment by the end of the week.

 

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