Cable hits 1.2946, highest level since 4 November
The pound is picking up from where it left off on Friday as buyers continue to keep the upside run going after a bit of a testing period at the start of last week.
In case you missed the headlines from Friday:
- Farage to get picky in challenging Labour-held seats?
- UK election: Brexit party has stood down from 43 non Tory seats
This just reaffirms Boris Johnson's Conservatives strong position going into the election and we're continuing to see the pound move higher on the back of that confidence.
Right now, buyers are looking to challenge the resistance level around 1.2970-76 next.
I still reckon the 1.3000 level will be a key hurdle for the pair unless the intention polls start to skew even more heavily towards the Conservatives.
