Next week could be another eventful one with the Brexit talks looming, Autumn Statement and the latest set of UK Inflation Report Hearings.
The Pound is clearly under a lot of pressure at the moment against both the US Dollar and the Euro caused by all the uncertainty and I think it will be a long time before the Pound starts to get anywhere near its pre-Brexit levels.
Inflation has been a hot topic as of late and was part of the reason for the recent interest rate hike earlier this month by the Bank of England.
Inflation rose up past 3% but earlier this week showed a fall which means that the recent rate hike was arguably a bit too early and therefore unnecessary.
Investors reacted to the fall in inflation by selling off the Pound which caused GBPEUR and GBPUSD rates to drop.
On Tuesday the latest set of UK Inflation Report Hearings are due to be announced. This is likely to cause a lot of volatility so if you need to make a currency transfer next week Tuesday could see a lot of movement on the foreign exchange markets.
The Chancellor will announce the Autumn Statement on Wednesday and with the Brexit talks ongoing this could be quite a difficult budget and therefore I expect to see the Pound come under pressure.
Overall moving into next week I think we could see problems for the Pound coming so be prepared for the movements on exchange rates.
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.