After having a great week last week for those looking to buy foreign currency with Sterling now we have the classic question of will the Pound kick on from this and make further gains or will we see something come out of the blue and knock Sterling right back down again?
Personally, this time around and for the first time in a long time I cannot see anything standing in the way of Sterling and I feel unless we have any major shocks or surprises arrive then the Pound could well have another great week against most majors.
There is a bit of a feel good factor surrounding the U.K at present and the economic data we have seen of late has been a great contribution to that. Unemployment and inflation data wasn’t bad, house prices are seemingly flying up along with the number of buyers, QE (Quantitative Easing) seems to be quite a way away from coming back into use and retail sales were excellent.
Somewhere somehow people are spending a lot of money in the U.K at present, however do be aware that on the retail sales front we did have a cracking heatwave which always hives the shops a lift…. Well maybe not all of them I doubt there were many sales of heating equipment.
Apparently the heatwave is heading back so we could find ourselves in for another big spend up.
Regarding economic data this week for the Pound is exceedingly quiet with just a few revisions of GDP data in the latter part of the week but for those looking for either Australian Dollars or U.S Dollars beware that meeting minutes from the last two interest rate decisions will be out on Tuesday and Wednesday night for those two which may lead to swift shifts in currency exchange rates overnight.
If you have the requirement to buy any foreign currency whether or not you are based in the U.K and you want to get the very best exchange rates along with assistance with the timing of your transfer then feel free to contact me directly and I will be happy to help you personally.
The company I work for has won numerous awards for our exchange rates and customer service so even if you have a currency provider and you are reasonably happy it is always worth sending me a quick email to see if you may even be able to do better.
You can email me on [email protected] please place a brief description of your requirements and leave a number for me to call you on and I will be more than happy to get in touch.