Despite trading in positive territory this morning the Pound has generally been coming under increasing pressure in recent weeks and months.
Talk of Brexit negotiations beginning badly due to infighting within the current cabinet is affecting the Pounds value, and with the Brexit bill talk surfacing and Theresa May mentioning it earlier this week, I personally think that there is a chance the Pound could continue to fall.
One of the headlines this week has been the Pound’s fresh post-Brexit lows against the Euro, which has taken place due to the Euro being very strong as well as the weakening Pound coinciding.
Those hoping for a resurgence in the Pounds value were hoping that talk of an interest rate hike would give the Pound a much needed boost, but with inflation pressures easing this is now looking less likely which is another reason for the Pounds bad fortunes.
Moving forward I think that the we could see weakness continue for the Pounds value, so if you’re planning on making a transfer involving the Pound do feel free to get in touch to discuss timings and perhaps trade contracts you’re not familiar with such as Limit Orders and Forward Contracts.
Tomorrow morning there will be a bout of data released from within the UK, covering the Manufacturing and the Industrial Sector within the UK. This data is released around 9.30am and feel free to get in touch if you wish to discuss its potential effects on the Pounds value.
If you have a large currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency. A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Joseph Wright) on firstname.lastname@example.org and I will endeavour to get back to you as soon as I can.