Political Instability threatens the Pound
The pound is any very precarious position at present. One of the first things you are taught if you become a currency broker is the factors that influence the market. Political instability is a primary cause for the currency in question.
At present Theresa May’s position as Prime minister is at threat. There are now as many as forty MP’s who are willing to put forward a vote of no confidence in the May continuing as PM. If that number hits forty-eight, May will be forced to vacate her position. If this is the case I would expect Sterling to fall heavily in value.
Is Theresa May losing her position that catastrophic for Sterling?
This may however not be worst case scenario. At present it seems we are in political limbo, rather than getting on with their jobs senior members of the conservative party are waiting in the wings ready to pounce on the PM position.
If Theresa May does indeed lose her position, short term losses for the pound maybe a wound that needs to be taken. If we then have a respected leader, supported by their party Brexit negotiations can then kick into gear and the pound may have a real opportunity for substantial gains against the majority of major currencies.
If you have a currency requirement I will be happy to assist. It is crucial to be in touch with an experienced broker when the market is currently so hard to predict. If you let me know the details of your trade I will endeavour to produce a free trading strategy to suit your individual needs. Have faith knowing you will be dealing with a brokerage in business for over 16yrs, Foreign Currency Direct Plc. We are a no risk entity as we do not speculate on the market and we are registered with the FCA. If you have a currency provider take a minute to send over the rates they offer and I am confident I can demonstrate a significant saving. I can be contacted at dcj@currencies.co.uk . (Daniel Johnson) Thank you for reading.