Pound sterling has stabilised against the euro, but it's too soon to start forecasting materially higher levels.
Pound sterling's next big directional move risks a fall below 1.0 versus the euro when the next UK crisis swings around.
Analysts at Nomura say major tail risks associated with this week's budget have been avoided, even if questions remain.
The pound has risen in relief on news the government won't need to issue as much new debt as some feared.
Horizon Currency Ltd
Albany House
14 Shute End
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Horizon Currency doesn't take custody of your funds. We execute your payments through FCA-registered companies, which hold your funds in segregated tier-1 bank accounts. These firms are:
1) Equals Connect Limited, registered in England and Wales (registered no. 07131446). Registered Office: Vintners’ Place, 68 Upper Thames St, London, EC4V 3BJ. Equals Connect Limited is authorised by the Financial Conduct Authority to provide payment services (FRN: 671508).
2) Sciopay Limited, registered in England and Wales (registered no. 12352935). Registered Office: WeWork, WW Moor Place Limited, 1 Fore Street Avenue, London, EC2Y 9DTE. Sciopay Ltd is registered with the Financial Conduct Authority (927951).