Post-Brexit Data could cause further Damage – Pound Forecast (Daniel Charles Johnson)

Sterling has fell considerably against most major currencies after the Brexit vote. The majority of UK data releases have been negative and the pound has suffered as a result. Unfortunately, I fear worse may be yet to come. There has been very little data that is actually post-brexit, most of the data that has appeared so far is for June. We will see UK Retail sales data released on Thursday at 09.30 and I would expect to see a decline which could cause the pound to fall further against the New Zealand dollar. If you have a NZD requirement I think it may be wise to move sooner rather than later. Keep in mind if UK data continues to come in poorly, Ian McCafferty of the monetary policy committee (MPC) has indicated further changes in monetary policy could be on the cards and that means real trouble for Sterling.

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