Sterling has remained fairly range bound over the week so far, with very little in terms of economic data of note due out as we head towards the end of the calendar month and indeed the end of the quarter.
We do have some growth (GDP) figures for the U.K tomorrow which will show how the economy has performed recently but unless they are drastically different from analysts expectations then I personally do not expect to see this data causing too much in the way of market volatility.
What will be key and what may cause market volatility for this pairing is something known as month and quarter end flows. This is essentially where large institutions and funds net off their positions for the month, leading to large money movements and the market shifting without any prior warning.
There are also fairly substantial payments made from the EU to the U.K at this time of the month and quarter which can also lead to exactly the same scenario, giving anyone that needs to either buy Euros with Pounds or to sell Euros and buy Pounds a tricky situation where they need to have one eye on the market at all times, as it moves by the second.
If you are in the position that you have a transaction such as this to make and you would like our assistance, then we can watch the markets for you and make you aware of any spikes in your favour or adverse movements against you.
Should you wish to take advantage of our services, not only keeping you fully up to date but also ensuring you get the best rate when you convert your currency then it would be prudent to get in touch with me (Daniel Wright) directly and I will be more than happy to help you. You can email me on [email protected] and I will be more than happy to contact you personally.