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Sterling enjoys a third successive week of gains..

The Pound has made consistent ground back since the stock market sell-off 3-weeks ago versus the Euro. 0.5% a week has been gained and levels now once again represent favourable levels to exchange for anyone with £-€ trades in the pipeline.

Those that have a requirement for £-$ are enjoying a very strong moment indeed. A ridiculous 1.7% has been made this week alone, making it now 3% in 3-weeks and something not to be missed. In fact, the current level has now reached the best time since April 2022.

key driver this week has been the UK's economy. Yesterday, August's PMI data exceeded expectations with as always the services sector leading the charge. With the economy continuing to expand, inflation remaining persistent and certain optimism surrounding the Labour Government, the Pound is currently in a strong position both near and long term.

We believe now is a fantastic opportunity to either hedge upcoming exchanges (buy some now and wait a while on the rest) or bank the recent profit with a Forward Contract.

Please get in touch if you would like to know more on either path..

On this day -

In 1305, Scottish patriot William Wallace is executed for high treason


In 1924, sees the closest proximity between Mars and Earth


In 1942, Battle of Stalingrad sees 40,000 die


In 1942, the last cavalry charge in history sees the Italians charge the Soviet infantry 


In 1943, the largest tank battle in history (10,000) ends and sees 250,000 killed in Kursk