Sterling at A 36-Month High, Soars to $1.35

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Anyone have any idea why? I mean I guess there’s less uncertainty, but now there is a certainty of a hard or no deal Brexit, would that not cause it to fall?

Gore-Galore

I’m no expert but my understanding is that the value of sterling was low because of the no deal Brexit risk, no deal was already priced in. Now that it’s effectively off the table it can bounce back!

Kizaman

One thing every answer has missed is that the biggest change is the potential for a Corbyn Labour government (v. hard left leader for a left party). If you look at the greatest fluctuations in the sterling over the last couple years, the market has reacted to Corbyn much more significantly than Brexit uncertainty which mirrors the general sentiment in the city and NY.

WaltJuni0r

The Conservative win means that Boris’ deal can get through Parliament without backing from other parties, bring certainty into the market again. My best guess, being a 14yr old lo.

ewanhort

That’s still quite low compared to pre referendum levels I guess uncertainty over hard brexit is fading

Daktush