We deal with hundreds of clients a day moving money internationally for property purchases, property sales or many other reasons and the key question that I am now being asked all day is will the Pound fight back or are we in for a period of sustained weakness?
The answer at present in my view is that the Pound will continue to struggle a little until we get some certainty in the market for the U.K and recently our economic data has been fairly average, not terrible but certainly not fantastic either. Couple that with the current political fiasco going on surrounding brexit and the referendum result seen last year and the U.K along with the Pound is not such a promising investment for speculators and investors alike.
If you look a the U.K as a business, you would not find many investors that would put money into a business that has slowing growth figures and no clear plan of action for the next few years, until we start to see some progress and some certainty as to what the plans are going to be post brexit then this will continue to lead to investors avoiding the U.K and therefore a substantial increase in value of the Pound is unlikely in the near term.
In my opinion I feel that the Pound is totally undervalued, but unless we see something acting as a catalyst to kick start the move back in the right direction then we may continue to see Sterling tread water in the coming weeks.
This morning we have Growth figures for the U.K at 09:30am and expectations are for no huge surprises, the rest of this week should remain fairly quiet in terms of economic data which is common for this time for the month.
If you are in the process of needing to buy or sell foreign currency in the coming days, weeks or months then it may be prudent to get in touch with us directly here.
All the writers on this site have years of experience in the currency markets and have helped people move their funds internationally in many different markets so we all have a good knowledge of what is happening and how to go about timing your transfer, not to mention our rates are generally better than you can find at a standard bank or brokerage too, it is extremely rare anyone has got in touch and not found that they can save money over their current broker.
If you feel we may be of use to you, feel free to email me (Daniel Wright) the creator of this site on [email protected] and I will be more than happy to contact you personally and to discuss the various options available to you.