The Pound has improved recently on the suggestion that the Bank of England maybe bringing an interest rate hike forward compared to the current market expectations.
However, although we saw a two month high to buy Euros with Pounds on Friday afternoon the exchange rate has already started to fall away a little during the course of this week.
This week Bank of England governor Mark Carney spoke about the topic of interest rates and stated that any interest rate hike would be ‘limited and gradual’ which caused the Pound to fall from its highs against both the Euro and the US Dollar.
This morning UK Retail Sales data are due out and with the weather having being rather mixed during August we could see some interesting figures published in the next hour which could cause some volatility for the Pound.
However, in my opinion it will Friday that could cause the biggest movements for Sterling exchange rates as Theresa May is due to address the markets in Florence. She will be covering the topic of Brexit and therefore I expect to see a lot of volatility on the foreign exchange markets.
If you have a currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency.
A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on [email protected] and I will endeavour to get back to you as soon as I can.