Boris Johnson has won a strong mandate to get on with his Brexit deal, sending sterling shooting higher. But there’s something unusual going on with UK stocks, notes chief investment officer Julian Chillingworth.
We don’t know about you, but over the past year or so we got into the habit of buying our travel money extremely far in advance of holidays.
Soon after the referendum result of 2016 – when sterling fell like an elephant with a ball and chain on its leg – there was a period when you held off because you thought the exchange rate could possibly, maybe, should be, better next week. That time of timid hope bled away when the pound slipped below €1.15 and camped out for more than a year.