Many of my clients are hanging on to sell there Sterling at present. Having watched GBP/EUR fall from 1.40 at the beginning of the year to the now painful lows of the 1.15-1.16s. It is extremely hard to predict with high street banks throwing out contradictory forecasts. Lloyds predicting a Sterling rally and HSBC predicting parity on GBP/EUR. Personally I feel as UK data starts to filter through for July we will see further Sterling weakness. UK retail figures went against the grain and came in better than expected. we did see a small rally for GBP but it was not sustained. I feel the positive data cab attributed to an increase in tourism due to the weak pound and the rarity that is good British weather.
It is important to note that Ian McCafferty a member of the monetary policy committee has indicated that if UK data continues to come in below expectations than further monetary easing will be initiated. If I was looking to sell Sterling short-medium term I would be taking advantage of current levels.
If you have a currency requirement it is crucial to be in touch with an experienced broker. The timing of your trade is vital during such a volatile times, If you have an experienced broker on board he/she can keep you up to date with what is happening in the market to help you make an informed decision. If you would like me to assist with your trade I will be happy to help. If you inform me of the the currency pair you are trading, volume and time scale and I will provide a free trading strategy to suit your needs. I work for one of the top brokerages in the country and as such I am in a position to beat nearly every competitors rate of exchange. You would be looking at around a 4% saving in comparison to high street banks. Please do get in touch by contacting me at email@example.com. Thank you for reading my blog. The quickest method to get in touch is by filling in the form below and we will be in touch ASAP.
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