This weekend I wrote an article outlining the reason why sterling strengthened last week. To summarise UK inflation rose to 2.9% and the Bank of England announced they could raise interest rates as early as November. Within the same article I suggested that the pound would have a poor start to the week due to investors selling off their positions because of improved exchange rates. My predictions so far this week have come true.
UK Prime Minister Theresa May is set to deliver her Brexit speech in Florence on Friday and I expect this event could dictate the strength of sterling in the weeks to come. With EU Parliament negotiator Guy Verhofstadt insisting Theresa May has an “important intervention” to make, I have this feeling that the Prime Minister could provide further strength for the pound.
There are two other key economic event this week to look out for that will have a major impact on currency exchange rates and they are the US interest rate decision Wednesday evening and the German election over the weekend. Depending on the Federal Reserves stance in regards to interest rates and if Angela Merkel is re elected as Chancellor will influence the flows between the Euro and US dollar which will consequently have an impact on sterling exchange rates.
If you are reading this website in order to find out information in regards to buying or selling the pound I can help you achieve the best exchange rates on the market whilst keeping you up to date with economic information.
It’s important to analyse both currencies that you will be trading therefore I would recommend emailing me with the currency pair (GBPUSD, GBPAUD, GBPCHF etc) the reason for your trade (company invoice, buying a property) and I will email you with my forecast and the process of using our company [email protected].
** IF YOU ARE ALREADY USING A BROKERAGE TO BUY YOUR CURRENCY IT WILL TAKE TWO MINUTES TO EMAIL FOR A COMPARISON AND I AM CONFIDENT I WILL BEAT ANY PRICE YOU ARE CURRENTLY RECEIVING **