We could see big movement for Sterling against all major currency pairings today. Although the chance of a change from the 0.5% we currently sit at is very slim, the Monetary Policy Committee vote is what could really cause the swing. The MPC’s nine members vote for or against a rate hike. We have consistently seen Ian McCafferty vote for a rate hike although with news of global slow down spurred on by China’s poor growth figures, he may be about to change his mind. Another member of the MPC Andy Haldane has indicated there may even need to be a rate drop before a hike. If there is any significant changes in the voting expect movement across the board. If we see the vote remain at 8-1, Sterling should rally. Personally I think this is a strong possibility with McCafferty remaining stubborn, Haldane would really be causing a shock by calling for a drop in rates.
I do have several large GBP-EUR trades going through in the coming days that potentially I could tag new clients on to and achieve a very competitive rate. Please do get in touch if this is something of interest. I will guarantee to beat any bank or brokerage’s exchange rates.
I am currently offering a free rate alert service, just drop a line or e-mail with your currency requirements including your time scale and the levels you are hoping to obtain and I will notify you of any significant movement.
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 on [email protected] or call on 01494 787 478 and ask for Daniel Johnson.