This year is likely to be crucial for the Pounds value as well as the UK economy and sentiment surrounding it.
With the second round of Brexit negotiations to begin in the first quarter of this year, it could pave the way for how GBP exchange rates perform this year and set the tone for the whole Brexit process.
Sterling has struggled since the Brexit vote back the middle of 2016, mostly due to uncertainty surrounding the UK economy and how business relationships with continue after the Brexit has taken place.
Ongoing business relationships and how they’re affected is likely to be a main talking point this year, and I expect the Pound to move quite considerably off the back of updates regarding this subject. Many analysts expect to see the Pound climb once we have some clarity on the situation, but I do think that despite the Pound being undervalued we could still see further falls should there be issues regarding the trade negotiations.
Sterling exchange rates are currently very range bound but if you would like to be notified if the rate jumps, do feel free to get in touch as working on a dealing floor allows us to react quickly to markets movements.
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.