The Pound has had a rough start to the trading week, dropping off quite rapidly in trading this afternoon. The main reason behind this was due to a poll on the referendum by the Guardian showing that the leave campaign are now marginally ahead.
With the markets recently starting to price in the remain campaign winning the referendum, we had seen a boost for Sterling exchange rates over the past week or so as the currency markets do move on speculation as well as fact. Any hint of the leave campaign starting to edge ahead or should we get a lot of media hype stating that the vote may be closer than first though then we may see Sterling drop even further.
One of the key things that we need to consider is that the enthusiasm of the leave campaign and anyone planning to vote leave appears to be a great deal higher than anyone looking to remain, so the key issue the remain side need to resolve is getting their voters enthusiastic enough to go out and actually vote, this is where the problem lies.
I personally still think we will stay but it is important to approach the market with a sensible view. If you are looking to take a bit of a gamble then it may be sensible to protect any upcoming currency exchange you need to carry out by booking half of it out and then leaving the other half until after the referendum.
We are here to help you all along the way if you do have an exchange to carry out, we are proactive with getting in contact when the market moves in the favour of our clients and also have a range of contract types to give you the best chance of getting the most out of the market during volatile times.
If you have the need to buy or indeed sell Sterling for your business, due to a property purchase/sale or for any other reason then it is important to have a proactive broker on your side and one that can get you the very top levels of exchange – It is very easy to settle for second best in this market but it is key to realise that even the slightest improvement in a rate of exchange can save you a huge sum of money.
If you would like to have a brief discussion with me (Daniel Wright) as to how I will be able to assist you with any pending currency exchange then feel free to email me directly on firstname.lastname@example.org and I will be more than happy to get in touch with you personally. We can cater for people inside our outside of the U.K and carry out bank to bank transfers.