The Pound has surged across the board through November for a number of reasons, with the main catalysts being the likely delay to invoking Article 50 and beginning the Brexit process, and Trumps election victory in the US boosting sentiment surrounding the UK economy.
Those planning on converting Pounds into another foreign currency have been dealt a good hand this month, as the Pound has gained clawed back quite alot of it’s losses since the Brexit vote.
This month alone the Pound has gained 5 cents vs the US Dollar and 7 cents vs the Euro. In monetary terms a £200,000 GBP to EUR currency exchange is now gaining an additional €15,000+ in the space of 30 days which just highlights the importance of timing large currency conversions.
As a specialist currency brokerage we’re here to monitor the currency markets on behalf of our clients, and in volatile trading conditions like we’ve seen this month our service can really save clients large amounts of money due to the assistance with timings and reacting to market movements.
There will be manufacturing and construction figures released later this week which could affect GBP exchange rates depending on their outcome, and if you are planning a currency exchange between the Pound and another major currency and would like to plan around these events, do get in touch regarding timings and exchange rates.
The Pound has so far held onto it’s gains made this month, but currencies do tend to fall quicker than they climb and if some ‘Hard Brexit’ related news is released there is a chance the Pound could lose some or even all of it’s recent gains.
If you are planning to make a currency exchange involving the Pound and another foreign currency, it’s well be worth your time getting in contact with me on firstname.lastname@example.org in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible.
You can also call in and ask reception to speak with me (Joe) on 01494 787 478.