UK: Conservative majority positive for the pound – ING
|Analysts at ING note that the UK pound surged on news that the Tories could secure a thumping majority and we’ve already seen a 310 pip move taking GBP/USD close to 1.35.
Key Quotes
“Large working majorities have typically been good for the pound over the last forty years and under a scenario of a large Conservative majority we had a short-term target for GBP/USD at 1.35 – already hit. We ultimately expect GBP/USD pushing onto the 1.38/40 area through 2020, assuming a Brexit transition extension is negotiated.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.