Bookmakers trust Johnson, British pound rises

According to bookmakers, Boris Johnson has almost 70 percent chances of victory in British early elections.

Nevertheless, a few months ago, the bookmakers were talking only about 30 percent chances that he could success as a leader in possible elections. The results are based on betting offices exchange rate analysis connected to the expected results of December elections in the UK.

Johnson’s growing chances in elections positively affected foreign exchange markets, too. The British pound reached its 6 months maximum in the end of last week against euro and continued in the same pace during Monday trading. The value of £1 was equal to €1,173 starting this week, which is its highest level since May.

The process may seem positive as it shadows growth of optimism and hopes that the Brexit agony will soon end. On the other hand, if British pound keeps increasing against Euro, the result will not be beneficial for British export. The situation indicates better export position of important British trade partners from euro zone. Especially in the situation when Britain leaves the European Union and trade barriers will increase.


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