The future of the pound

For clients that regularly read this website or talk to the trading team over the phone, they will know that Brexit is the reason why the pound sits at multi year lows. Consumer confidence has declined and the worry is that large businesses will take their business elsewhere once the UK departs the EU.

In regards to the actual negotiations, by all accounts they are not going particularly well. This week Guy Verhofstadt exclaimed that not enough ground has been made on the divorce settlement and citizens rights.

The problem I have is that Theresa May’s whitepaper last week announced that the UK will not have a partnership with the European Court of Justice which in turn means that it is unlikely the UK will protect EU citizen rights.

Looking further ahead if the UK fails to change their stance on EU citizens rights, I worry that trade negotiations may not even begin. Consequently further falls for the pound could occur in the upcoming months.

When buying or selling the Pound its important to analyse both currencies that you will be trading (GBPUSD, GBPEUR, GBPAUD). If you would like to save as much money as possible feel free to email me with the currency pair you are looking to trade and the time-scales you are working too and I will email you with my forecast and the process of using our company [email protected].

As a company we pride ourselves in the ability to get you a better exchange rate than your current currency provider or your bank. In addition we can outline your options and the potential future events, which will impact your exchange rate. This will help you to make informed and educated decisions.

** If you are purchasing the pound with a foreign currency, rates are fantastic at present however could get better. Outline your requirements to me and I will keep you up to date with market movement and potential opportunities. **