PUBLISHED: 07:49, Fri, Nov 15, 2019 | UPDATED: 08:19, Fri, Nov 15, 2019
The pound to euro exchange rate has rocketed to new heights as optimism for a Conservative win in the December general election mounts. GBP surged to a six month high against the common currency as investors priced in the Tory majority. However, experts have cautioned that “uncertainty continues to linger” and risks still remain for sterling.
The pound is currently trading at 1.1684 against the euro, according to Bloomberg at the time of writing.
Michael Brown, currency expert at Caxton FX, spoke to Express.co.uk regarding the latest exchange rate figures.
“Sterling ground out a fresh six-month high against the euro,” said Brown.
“It briefly broke above the €1.17 level, as investors began to price in a Conservative majority at the upcoming election.
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Pound euro exchange rate: GBP surged to a six month high against the common currency (Image: Getty Images)
Pound euro exchange rate: The pound is currently trading at 1.1684 against the euro (Image: Bloomberg)
“The risks for the pound, however, remain tilted to the downside, with four weeks to go until polling day and uncertainties continuing to linger.”
How is the pound likely to react after the election? “The upcoming general election spells further uncertainty for the pound as it remains vulnerable to fluctuations while the UK waits to find out exactly how the election will play out and who will be in charge at number ten,” said Ian Strafford-Taylor, CEO of international money specialist Equals.
“The political landscape naturally has a huge influence on the pound and its performance, so we can expect even more movement in the