GBP/EUR breaks €1.1750

On the back of the most recent YouGov opinion poll GBP received another welcomed boost to hit the highest rates we had seen for nearly a month.

The Poll which was released at 22:00 on Wednesday claimed that the Conservatives would walk the upcoming election in December and win with a majority of 66 seats. This is seen as a positive for the Pound as they are the most likely party to finally push through a Brexit deal which, investors see a win for the economy. Once this happens, they can move on to the next step of negotiations and release the undervalued Pound from the lows we have seen since 2016.

With a lack of Economic data and no speeches from any Central banks this week Brexit has once again dominated the currency markets and been the main reason behind the fluctuations we have seen. With 2 weeks until the vote we will expect the volatility to continue and the Pound to react to more opinion polls and politician speeches.

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