The outlook for sterling is very shaky with there being in my opinion a very low chance of any interest rate hike this year. What I think is more likely is that the Bank of England will refrain from any interest rate hike until 2016 and the pound will lose value. The second thing to beware of for the pound is that the General Election is likely to cause the pound to suffer as we approach one of the most uncertain elections in years. In short if you need to buy or sell the pound in the coming weeks and months making some firm plans now seems to me the most sensible option.
We offer a range of contract options which will help you to limit your exposure on the markets including the forward contract and the ‘Stop’ order. Just recently many clients are hoping for a little more on the rate assuming sterling will keep climbing! Personally I think such clients should be preparing for rates to fall.. For more information at no cost or obligation please speak to me on [email protected]