Sunday, November 19, 2017
Text Size

Good for Travellers as Sterling Hits Seven-Month High

Sterling has strengthened to a seven month high following the announcement of Theresa May's June General Election and the success of France's new President Emmanuel Macron at the weekend.

Usually General Election announcements can be guaranteed to give the financial markets the jitters, but the fact that the PM is in such a strong position going to the polls means sterling has strengthened because of the near certainty of a comfortable election victory, thus bolstering the Prime Minister's hand in the coming Brexit negotiations.

Sterling is close to 1.30 USD this morning, when it was down as low as 1.22 a few weeks ago.

The pound is currently trading around eight US cents higher than its March lows, with investors buying back into the battered currency last month when Prime Minister Theresa May unexpectedly the early election for June 8.

Sterling is still down almost 14 per cent against the dollar since last June's EU Brexit referendum. But it is also almost 13 percent higher than the 31-year lows it hit in October.

Against the euro, the pound is down less than 10 per cent since June, and was up 0.2 percent yesterday at 84.295 pence.


BTTE 2017

Watch the 2017 BIG Travel Trade Event Highlights Video Online Now!



Northern Ireland Travel and Tourism Awards Launch 2017 - in partnership with Blue Insurance


Contact Details

  • NI Travel News
  • Unit 1, Windsor Business Park
  • Belfast
  • BT9 7DW
  • 028 9066 6151