020 7898 0500Sterling continued to be strong yesterday, and began the day higher than it was prior to the snap election news. However, it’s worth noting that despite Theresa May’s assertions that the British economy remains solid, the UK currency still has a lot of ground to gain before recovering from the slump after the EU referendum.
Markets seem convinced that the general election will result in a bigger Tory majority and potential for a resulting softer Brexit. With the election a mere seven weeks away, the daily campaigning by all parties could see the pound becoming volatile as markets react to the news as it comes in.
Today we have the release of UK Retails Sales figures for March. Expectations are for growth to be negative month on month but only slightly down year on year and still showing robust growth greater than 3%.
