It appears the pound will remain very much on the back foot and clients looking to buy a foreign currency with the pound should be carefully monitoring behaviour in that respective currency. One of the worst things you can do with a large volume currency transfer, particularly if you have not made one before, is bury your head in the sand and just hope that the market will unexpectedly rise. At the moment it is a double whammy on many currency fronts since it isn’t just that the pound has been weakening, global events are causing other currencies to strengthen.
The next twists and turns will largely be political, for now the market has no real clues about what Brexit means. This can go either of two ways and I think the fireworks will begin once Thersa May returns. She could reset the market view in a positive light which would help the pound or she could further exacerbate the tensions which have lead to the demise on sterling so far, could we still see another General Election? Further sterling weakness from all of this seems the most likely! I just cannot see how the pound will make any massive inroads, as mentioned I feel it will be more down to weakness on the other currency pairing.
EURO – At the moment the Eurozone is growing twice as fast as the UK and they have strong and stable government in the form of Merkel and Macron. The ECB (European Central Bank) is looking to withdraw its economic stimulus and even Greece has been paying back its debts! There is an Italian election in 2018 but the coming months seem likely to support a strong Euro. To get a GBPEUR Forecast specific to your position or situation please email me Jonathan on firstname.lastname@example.org with a phone number and an overview of the situation.
US Dollar – The US dollar had been weakening as the Trump trade unraveled and markets unwound the high expectations previously placed in the new administration. However just lately events have taken a turn with the possibility of war with North Korea. The latest twist is almost a point of no return, now North Korea can fire nuclear weapons and the warmongering rhetoric has been raised it could be difficult to easily tone this down. The US dollar has really strengthened on the back of this development and gained almost 3 cents against the pound. To get a GBPUSD Forecast specific to your position or situation please email me Jonathan on email@example.com with a phone number and an overview of the situation.
AUD, NZD and ZAR – The Australian dollar has been rising too against sterling as the RBA (Reserve Bank of Australia) confirm that they might well be looking to raise interest rates in the future. The Kiwi has weakened because the RBNZ has lowered their expectations of raising interest rates and the Rand is on the back foot as Jacob Zuma battles on in Government!
To get ANY Forecast specific to your position or situation please email me Jonathan on firstname.lastname@example.org with a phone number and an overview of the situation.
We are specialist currency brokers with years of experience assisting clients with transactions from 10,000 GBP to the multi millions. We are in business to help with the planning and execution of any transfers and are extremely confident to offer better pricing than any other currency company. Where we can really assist is the practical assistance with the timing and planning of your deal to make an informed decision on the best time to enter the market.
Thank you for reading and I look forward to hearing from you.