The Pound jumped in early December as talks of the Brexit bill being agreed boosted sentiment surrounding the UK economy, as investors were buoyed by the thought of the path being cleared for Brexit negotiations.
Whilst the situation is still technically the same, the messages from Brussels appear to have become somewhat less positive, as it’s emerged that the EU have been making contingency plans in the event of a no-deal Brexit.
This is of course concerning for those hoping for a smooth transition for the UK economy as the UK leaves the EU, and understandably the Pound has lost some value as a result of the comments.
Brexit secretary David Davis has voiced his concerns regarding the recent comments out of Brussels, and I think that those hoping for a stronger Pound should be weary of similar comments as they certainty have the potential to push the Pound lower.
On a more positive note the UK economy has been performing quite well recently and beat most economists expectations in 2017. UK manufacturing recently hit a 20-year high and there have been some surprising benefactors of the weaker Pound such as the UK boating and Yachting industry.
If you would like to be notified in the wake of a spike in the Pounds value, do feel free to get in touch with me.
If you have a large 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 (Joseph Wright) on [email protected] and I will endeavour to get back to you as soon as I can.