What will happen to the pound on Theresa May’s speech?

Will Pound to Euro Rates Gain in September?

Theresa May gives a big speech today on Brexit which could easily move the market, I think everyone is very keen to hear just what Mrs May has to say about the Brexit and the future direction for the UK. More than likely the pound will come under some attention as investors look for clues at to the future trends we might see emerging.

The key speeches from Theresa May on Brexit were the Lancaster House speech January 2017 which saw the pound drop 2%, later last year she also spoke in Florence where the pound also fell. This is because markets were concerned by her outlining of what would appear to be more of a ‘harder’ Brexit.

Today’s speech could be a big market mover, recently the pound had been rising on the expectations of a softer Brexit. However, today Theresa May is likely to discuss options that would still put her on course for more of a harder Brexit. This will be difficult to ascertain because more than likely there will be a lack of detail in what is discussed.

The market will probably have to focus on reading between the lines of the comments from Mrs May, I personally think the market will end up disappointed once again and sterling will slide. There is the potential for some upside surprise if May delivers a speech which upholds unity and reinforces confidence in the UK government.

If you need to buy or sell the pound this speech is vital to the direction on sterling exchange rates we could take for the rest of March. For more information on securing the very best rates of exchange plus receiving updates on future trends, please contact myself Jonathan Watson by emailing jmw@currencies.co.uk.

Thank you for reading and I look forward to hearing from you.