George Osbourne delivers the Budget today at 12.30pm. I expect some some quite severe cuts in order to reduce the deficit. The market does seem to be factoring these potential cuts as GBP/CAD now sits in the low 1.88s. The cuts could well cause further weakness once confirmed, This will create an excellent buying opportunity for CAD sellers. I would not procrastinate however, I feel the UK will remain in the EU when the referendum vote is cast on 23rd June and we will see the pound rally back above 1.95.
If you have a currency requirement I would be happy to assist. I will guarantee to beat any bank’s exchange rate and come up with an individual trading strategy to suit your needs. I can be contacted on 01494 787 478 and ask for Daniel Johnson or feel free to e-mail me at [email protected].