Following the UK prime minister’s address to the confederation of British industry (CBI) this morning, sterling has enjoyed its best day against the Euro since the Brexit vote in June. It closed at 84.9p:€1, having been trading at 86.2/€1 at 11am this morning, which is its strongest position since mid-September.
Sterling has now recovered the value it lost ahead of the hard Brexit speech by the British prime minister ahead of her party conference. Her tone in today’s CBI’s speech has been judged more conciliatory, with a transition arrangement and low corporation tax promises triggering favourable market reaction on sterling. It also comes on the back of better-than-expected UK indices at the end of last week, with unemployment falling to an 11-year low.
Events elsewhere are also combining to make sterling look a better bet to currency traders than anytime over the past two months. The US has had its election, with the dollar expiring the Brexit effect on sterling, while in the Eurozone, forthcoming elections and consequent political uncertainty in the big two economies of France and Germany have combined to make the Euro less attractive.
This content is available to digital subscribers and loyalty code users only. Sign in to your account, use the code or subscribe to get unlimited access.
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
CODE ACCEPTED
You have full access to the site until next Wednesday at 9pm.
CODE NOT VALID
Please try again or contact support.
Following the UK prime minister’s address to the confederation of British industry (CBI) this morning, sterling has enjoyed its best day against the Euro since the Brexit vote in June. It closed at 84.9p:€1, having been trading at 86.2/€1 at 11am this morning, which is its strongest position since mid-September.
Sterling has now recovered the value it lost ahead of the hard Brexit speech by the British prime minister ahead of her party conference. Her tone in today’s CBI’s speech has been judged more conciliatory, with a transition arrangement and low corporation tax promises triggering favourable market reaction on sterling. It also comes on the back of better-than-expected UK indices at the end of last week, with unemployment falling to an 11-year low.
Events elsewhere are also combining to make sterling look a better bet to currency traders than anytime over the past two months. The US has had its election, with the dollar expiring the Brexit effect on sterling, while in the Eurozone, forthcoming elections and consequent political uncertainty in the big two economies of France and Germany have combined to make the Euro less attractive.
If you would like to speak to a member of our team, please call us on 01-4199525.
Link sent to your email address
We have sent an email to your address. Please click on the link in this email to reset your password. If you can't find it in your inbox, please check your spam folder. If you can't find the email, please call us on 01-4199525.
ENTER YOUR LOYALTY CODE:
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
SHARING OPTIONS