[vc_row][vc_column][vc_column_text]In a somewhat surprise move, Prime Minister Theresa May has this morning confirmed she wants to hold a snap General Election on 8th of June.

Although Downing Street had initially dismissed any early election talk less than a month ago, Mrs May has said that she had ‘only recently and reluctantly’ come to this decision as a result of a divided Parliament in Westminster.

In a speech designed to look towards upcoming Brexit negotiations in a positive light, Theresa May said that ‘the country is coming together, but Westminster is not… division in Westminster will risk our ability to make a success of Brexit’.

On the back of this announcement, Sterling has reached a 7-week high
against the euro and a 10-week high against the US dollar

Such positivity against both major currencies has been a rare occurrence for Sterling since the UK’s referendum decision, offering some much-needed relief and positivity for those looking to buy either currencies. However, those seeking to buy Sterling will now be looking on in some trepidation – could this prove to be the catalyst for a sustained period of Sterling recovery?

This morning’s spike for the pound can also be attributed in part to the Head of International Monetary Fund (IMF), Christine Lagarde, warning that the French presidential election is causing a ‘huge question mark’ over the Eurozone and the single currency bloc. Worrying sentiments indeed for the euro from such a senior and respected figure.
* Information courtesy of  Currencies Direct
The contents of this report are for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. Currencies Direct cannot be held responsible for any loss or damages arising from any action taken following consideration of this information. This article was written by Currencies Direct.[/vc_column_text][/vc_column][/vc_row]