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Sterling looks set to continue it's poor run


Hi everyone,

The Pound is set for an extremely volatile month ahead. The local elections were the first big test and with neither party making significant gains, it's good news for £ in the FX market. 

The Tories were visibly relived by the better than expected results and it was a major coup for them not losing one London Borough to Labour. Jeremy Corbyn said he was 'disappointed' after losing a bit of ground in other parts of the country too. The vote in the House of Commons later this month will really dictate where Sterling and Brexit is headed though, with another general election (the third in four years potentially) on the cards.

Before that is the well-spoken about interest rate hike, which just a couple of months ago was expected to be around 0.75%. The highest level for a decade. However, with inflation falling, recent poor GDP figures and generally weak data of late, we can expect no rate hike and more of the same for the £ unfortunately.

Thankfully the Bank holiday break comes with some sun this year though guys!

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