The Pound has climbed once again today, which is the third day in a row that the Pound has put in a strong performance.
Sterling had been boosted earlier this week after hopes of a smooth transitional period increased, and today it appears that the financial markets have increased hopes of a bullish tone from the Bank of England at their policy meeting next week.
With inflation levels already reaching alarming levels in the UK, the Bank of England has previously been hawkish regarding rate hikes as wage growth has struggled to keep up, but with Bank of England governor Mark Carney acknowledging a slight uptick in wage growth, the likelihood of a rate hike is now more likely.
No change is predicted at the next meeting, but hopes of an increase at the meeting in May is increasing and this alone is enough to give the Pound a boost.
Those watching Sterling exchange rates with a view to completing a large currency transaction should consider this, and also be weary that if the talk of a hike is completely written off the Pound could fall.
There is also the chance of a negative Brexit announcement that could push the Pound lower so this should also be considered.
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 firstname.lastname@example.org and I will endeavour to get back to you as soon as I can.