The Pound has once again moved on to shaky ground during today’s trading session as the subject of Brexit is set to once again dominate the headlines and the movements for Sterling exchange rates towards the end of this year.
The Pound has dropped by over 0.5% against both the Euro and the US Dollar and we could see further movement over the next couple of days as the Brexit talks commence.
The Pound has once again been rocked by political problems as rumours increase that one of Theresa May’s cabinet ministers may be leaving owing to unauthorised meetings with Israeli officials.
The Conservative party remains under a lot of pressure but could these talks be the change in Sterling’s favour?
The hot topic to be discussed is that of citizens rights which could potentially open the door for the next stage of trade negotiations which has been the biggest stumbling block so far.
If we do get some positive news this could help the Pound but as the talks have been going on for a few months with little resolution I’m not holding my breath.
Many of my clients have been opting for forward contracts recently owing to the concern of how the currency may react over the next few weeks. This involves using a small deposit which allows you to fix an exchange rate for a future date.
If you have a need to make a currency transfer in the coming days, weeks or months then feel free 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 compared to your bank or another currency broker.
Even a small improvement in the exchange rates can make a big difference so feel free to to email me and you may find you could save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on email@example.com and I will respond to you as soon as I can.