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Have Brexit fears now subsided, and will the Pound now strengthen as confidence returns? (Joseph Wright)
Some interesting reports emerged over the weekend regarding the Pound, and how it’s likely to perform as the UK enters a period of uncertainty as the Brexit process begins.
The Pound has lost value since the Brexit vote as the result initially shocked markets, and despite recovering somewhat after hitting it’s lowest levels there are some key figures within financial markets that consider the Pound to be undervalued.
The currency team of the Bank of America have offered their opinion on the Pound moving forward over the past few days, and interestingly they’re expecting to see the Pound fall again in the short term as the Brexit approaches, before recovering later in the year. As it stands they consider the Pound to be undervalued.
Last week was busy in terms of economic news releases whereas this week is likely to be quiet for GBP exchange rates until Friday when GDP figures will be released around 3.30pm. With this in mind I expect to see sentiment continue to drive GBP exchange rates as has been the case for much of the past year.
If you have a currency requirement involving the Pound, it can be worthwhile getting in touch not just to take advantage of our commercial exchange rates, but also to discuss the different types of trade contracts we offer.
We’re also in a position to react quickly to Brexit related news which has been one of the biggest exchange rate movers for some time now, so feel free to register with us if you wish to be kept updated regarding this topic.
If you are planning to make a currency exchange involving the Pound and another foreign currency, it’s well worth your time getting in contact with me on [email protected] in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible.
Source: http://www.poundsterlingforecast.com/2017/02/06/have-brexit-fears-now-subsided-and-will-the-pound-now-strengthen-as-confidence-returns-joseph-wright/
