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Where next for the pound?
The pound is often a tricky currency to predict with movements being related not just to what is happening in the UK but also globally. For example part of the rise on GBPEUR in 2015 is attributable to the worries in the Eurozone, investors parked their cash in their UK and reduced Euro holdings to compensate for the uncertainty. Recent improvements in the economic outlook for the Eurozone have seen the rate tip back and attention come back to the UK.
Despite the inherent difficult in making firm predictions we can sometimes forecast events which are likely to have an important impact on the market. Every four of five years there is an election in the UK which usually causes the pound to weaken. The economic uncertainty as a result of the election is highly likely to cause the pound to weaken in the weeks leading up to it. If you need to make a transfer around this time making some firm plans in advance is a good idea.
In such uncertainty you always have options including fixing exchange rates in advance and using Stop Loss or Limit orders which will trigger at automatic levels so you don’t miss out on any spikes in your favour. Please speak to me about all of your options ahead of this very important event by emailing [email protected]. The gamble in such a market is keeping the blinkers on and not at least considering your options….
Source: http://www.poundsterlingforecast.com/2015/03/26/where-next-for-the-pound/
