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The pound is in for a very busy day!
Today is a huge day for sterling with the release of both the Bank of England Quarterly Inflation Report and Bank of England Interest rate decision at 12pm. The pound has been performing very strongly lately but will this continue for the rest of the day? It is quite reasonable to expect sterling losses as the BoE confirms Inflation is likely to remain low for some time and that there is no need to hike interest rates. With the Eurozone economy performing badly investors have moved funds from the Euro into sterling in anticipation of some good news for the UK but could this excitement be undone?
If you need to buy or sell sterling today is a very important day and could present some excellent buying opportunities. For more information on the market please email me Jonathan on [email protected] to learn more about your options and what happens. In my job as a specialist currency broker I am here to assist with any planned transfers for the future and make sure you understand exactly what is driving your exchange rate.
The longer term forecast does seem positive for the UK and the pound based on expectations the UK will raise interest rates, however this scenario has been on the cards for the last few years and every time we are getting close to beginning to raise interest rates the dates get pushed back! I am firmly of the belief we won’t see any rate hike as soon as the markets are betting and suggest any spike in the value of the pound is well worth taking advantage of for those who need to sell sterling for a foreign currency.
Thank you for reading, please contact me to learn more.
Jonathan
Source: http://www.poundsterlingforecast.com/2015/11/05/the-pound-is-in-for-a-very-busy-day/
