Sterling dipped after latest terrorist attack

Ryan Bembridge

June 5, 2017

The value of pound sterling fell to its lowest level against the euro since March after Saturday’s London Bridge terrorist attack.

At 6pm yesterday sterling fell to €1.1399 before inching back up to €1 1.14381 at the time of writing.

What appears to be a closer-than-expected General Election on Thursday is also likely to be having an impact.

Why a transition period makes perfect sense

Carl Hasty, director of Smart Currency Business, said: “The London attacks pushed sterling lower in early trading this morning.

“Sterling will be driven by further election updates throughout the week.

“What once appeared to be a done deal for a Conservative majority now hangs in the balance in a way hardly anybody could have anticipated.

“Since May’s announcement the opinion polls have narrowed with the latest YouGov poll having the Tory lead at just three points over Labour.

“Anything other than a Conservative landslide would be viewed as a failure in what May says she set out to do in calling the election: securing a bigger mandate for Brexit negotiations.”

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