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Is Sterling about to slip away? Economic data starting to show cracks (Daniel Wright)
The Pound has held fairly firm since the result of the referendum, however this current bout of resilience may have the chance of slipping away as we are starting to see U.K economic data showing signs of dropping off as of late.
Last week inflation data disappointed, average earnings figures had dropped off and retail sales figures rounded off the week coming out much worse than expectations.
Sterling exchange rates have been holding their ground over the past few weeks, mainly due to U.K economic data being fairly solid despite predictions that the economy would drop off dramatically post referendum.
The issue we are starting to see at the moment is that should economic data start to come out negatively whilst we have the uncertainty of brexit talks hanging over the head of the U.K the Pound may well start to have a tough time of things again, and those looking to purchase foreign currency with the Pound may wish to start considering their options or hedging their risk.
It is important to remember that if you have a large purchase to make for property, your business or any other reason then you do not have to book out all of your currency in one go, essentially putting all of your eggs in one basket.
If you are in the position where you need to carry out a large currency exchange in the coming days, weeks or months then it is extremely important to have an experienced and knowledgeable currency broker on your side.
Every writer on this site has years of experience in the industry and we all work for one of the top foreign exchange brokerages in the U.K . We can assist you whether or not you are based in the U.K or overseas and not only can we tailor a game plan for your specific situation but we can also get you extremely competetive rates too.
Feel free to contract me (Daniel Wright) the owner and creator of this site on [email protected] with a description of what you need assistance with and I will be happy to contact you personally.
Source: http://www.poundsterlingforecast.com/2017/02/21/is-sterling-about-to-slip-away-economic-data-starting-to-show-cracks-daniel-wright/
