Supreme Court and Article 50 uncertainty causes Sterling weakness Tom Holian)

Sterling exchange rates have continued to fall since yesterday afternoon as the positive gains following the Italian referendum seem to have disappeared.

The focus will now turn to the ongoing discussions with the Brexit discussion and the current court case involving the Supreme Court.

Prime Minister Theresa May agreed yesterday that she will publish her plan about how the UK will leave the European Union but the timing of the release is as of yet unclear.

It appears as though Theresa May has had her hand forced by Labour who wanted to see what the plan is in order to proceed with Article 50.

Labour would like the plan to be published by January which may coincide with the judgment made by the Supreme Court.

The next potential for volatility for Sterling vs the Euro will come on Thursday when the European Central Bank meet to discuss their latest interest rate decision.

The ECB have been really struggling to control falling inflation recently and their current Quantitative Easing programme does not appear to have had the desired effect.

Therefore, I think even if the central bank does not change the current QE programme any hints that more easing could come could potentially see Sterling make some gains vs the Euro.

The NIESR publishes it latest set of GDP data for the three months up until November at 3pm today and although this data is not the official release it is usually fairly accurate and therefore often has a big impact on exchange rates.

Having worked in the currency markets since 2003 I am confident that not only can I offer you better exchange rates than by using your bank but also help you with the timing of your transfer of funds. 

If you have a currency requirement and would like to save money when buying currency then contact me directly for a free quote and I look forward to hearing from you. Tom Holian