Pound falls sharply against major currencies as Brexit looms
SEE ALSO :No-deal Brexit more likely by the dayThose gains have now been wiped out. "Raab resigning just now changes the ballgame. Hard to be optimistic on GBP in the short term. " Nomura analyst Jordan Rochester said. "But equally Theresa May has survived much worse. It's whether we get a flood of [Cabinet] resignations to follow." James Hughes, chief market analyst at Axi Trader, said: "Sterling previously moved on clarity rather than positive and negative headlines. "This has now changed and it seems sterling is now a barometer of the PM's ability to hold onto her job."
SEE ALSO :Britain scrambles for Brexit consensusHe added: "If the discontent and resignations continue then the pound will remain under pressure." With the pound falling, it's rarely been more important to get the best deal possible when changing pounds. Money supermarket recommends shopping around to get the best rates and looking at the total cost, not commissions, fees and rates. That is to say - if I want €250, how much will it cost me once everything is included? For example, a “commission free” deal can work out a lot more expensive than one with a 2% fee if the exchange rate they're using isn't as good. “The best deals are usually found online for collection from city locations and for home delivery,” Moneysupermarket added.
Register to advertise your products & services on our classifieds website Digger.co.ke and enjoy one month subscription free of charge and 3 free ads on the Standard newspaper.