The Pound is holding strong against the majors and has recently surged after the Greek vote and the impact this had on the Euro. The Pound is now registering rates which haven’t been seen for a number of years which makes pleasant reading for holiday goers this summer.
With GBP holding firm at 1.4 against the Euro considerable gains have been made when compared to lows of around 1.1 only a few years ago. This means that anyone exchanging Pounds for Euro’s will receive considerably more than during the last eight years.
We all know that the Ashes kicks off this week and it’s also worthy to point out that the Pound is also riding high against the Australian Dollar. The Pound is current just shy of 2.12 dollars to the Pound and this is the highest it’s been since around 2007. We might start to hear the English fans chanting the reinvigorated exchange rate once again to the Aussies.
This renewed strength in the British currency partly relates to investors ditching the Euro, due to recent events in Greece, and purchasing the Pound, which is seen to be a safe haven alternative for the Euro.