Sterling is dropping fast. After Mark Carney’s speech earlier in the month we have seen GBP/EUR fall from 1.42 down to 1.35. He stated that Sterling strength over the Euro was harming our Exports and that he was prepared to take measures to prevent further Sterling strength. His thoughts were solidified yesterday when factory order figures came in at a two year low.
This coupled with a general election set to be the closest in the last fifty years does not bode well for Sterling. I feel Euro purchasers who are hoping for Sterling to bounce back need a dose of reality and realise holding on for that extra buck will prove costly.
Thank you for reading today’s Blog, I would greatly appreciate any feedback you have and would take pleasure in replying personally. I am more than than happy to assist you with any of your currency requirements. Feel free to e-mail me at [email protected] or call on 01494 787 478 and ask for Daniel Johnson.