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- Market rates at publication: GBP/EUR: 1.1557 | GBP/USD: 1.4044
- Bank transfer rates: 1.1333 | 1.3750
- Specialist transfer rates: 1.1476 | 1.3946
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- Set an exchange rate alert, here
The British Pound was an outperformer on global foreign exchange markets on Monday May 10 as investors welcomed an easing of UK political risks.
The focus of the weekend was the outcome of the Scottish election, which saw the SNP win the vote but ultimately fail to win an outright majority.
SNP leader Nicola Sturgeon says her party will seek another independence referendum on the basis of an overall pro-independence government it expects to form with the Greens.
But for markets the crucial takeaway is the timing of such a move is unlikely to be soon, given Sturgeon’s commitment to seeing through the covid-19 crisis.
The Pound-to-Euro exchange rate rose half a percent to quote at 1.1557, the Pound-to-Dollar exchange rate rose 0.42% to quote at 1.4050.
“For EUR/GBP, markets will…
