Brexit talks to drive the market in June
|Sterling finished May well after a dreadful start and there could be more small improvements on the way.
The 'Armageddon' fears of Brexit are not being realised and this is allowing the Pound to gently rise across the board just now. Also, Italy is not out of the woods yet and any new negative comments surrounding politics will inevitably weaken the €. The winner in May was easily the $, making a huge 2-3% gains against both the € & £.
£-€ remains above the average for the year and the same level as last year, so a good time to be exchanging. Whilst £-$ is 5 cents higher than this time last year, the dramatic (unexpected) recent fall is currently 3 cents below the year average.
A relatively quiet week on the data front this week, so not a great deal of movement is expected in the market.