Pound to Euro and Pound to Dollar exchange rates have been on quite a positive trend since last Thursday, and how Theresa May handles and approaches her final grilling in the House of Commons before the triggering of Article 50 next week, will provide useful signposts for how the Pound will continue trending.
Inflation data yesterday which increased the likelihood of an interest rate hike in the UK in the near future provided an economic argument for a boost in Sterling value against the likes of the Euro and the various Dollars, but we are now firmly moving forward in the realm of politics once more.
The Pound has suffered on occasion over the past few weeks with the two delays in the triggering of Article 50. Initially it was to avoid triggering this before the SNP Conference two weekends ago to avoid adding fuel to the fire. Secondly it was a tactful delay given that the anniversary of the Eurozone was last weekend.
So markets are not necessarily worried about the triggering of Article 50 itself, but rather the setting.
Will SNP members during PMQ’s today push May into a corner as we saw a few weeks ago, or will she do enough to win the public argument to avoid another Referendum?
Given that the market is so fluid and so much decision on currency investment and therefore exchange rate movement is based on conjecture, a premium will be put on being up-to-date with current forecasts and being able to move quickly, whether selling or buying Sterling, should the opportunity arise.
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