Voting starts tomorrow and the referendum is too tight to call at present. The Daily Telegraph combined six of the latest polls and it came in a dead heat at 50/50. The remain camp gained ground of late due to the tragic demise of MP Joe Cox and Nigel Faraj’s awful immigration poster. The pound strengthened against the majority of currencies as a result.Recent information from the International Monetary Fund (IMF) have illustrated the economic implications of a Brexit. Christine Lagarde the Head of the IMF stated a UK exit from the EU would be “pretty bad to very,very bad”. Finland’s Finance Minister Alexander Stubb followed and stated a Brexit could be “Europe’s Lehman Brothers”. GBP/NZD currently is in the 2.04s. If the UK remain in I expect 2.20 +. If there is a Brexit I would expect 1.75 or lower. The wise move would be to hedge. To have all your eggs in one basket is a risky. It is literally like flipping a coin.
If you do have currency requirement and are looking to purchase pre-referendum, but do not have all the funds available it is possible to book a time option contract. A time option contract is essentially buy now and pay later. It requires a 15% deposit, but is proving very popular during such a unpredictable period.
If you have a currency trade I would be happy to help. I will be your eyes and ears in the market keeping you up to date with any spikes or troughs. I am prepared to come up with an individual trading strategy and I am confident in beating any bank’s rate of exchange. As an indication we can beat the majority of high street bank’s rates of exchange by 1-4%. Please feel free to contact me for a no obligation quote by e-mailing me at [email protected].