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Positive start to the week for the Pound but will it continue? (Tom Holian)
The Pound has started the week on a positive note with Sterling Euro exchange rates as well as Pound to Dollar rates improving since the end of last week.
We are just now two days from Prime Minister Theresa May triggering Article 50 in which she will confirm in writing to the European Union that we will be officially leaving the bloc and casting ourselves adrift.
When you cast your mind back to Brexit and what happened to the value of the Pound we saw it really plummet against all major currencies so a precedent of large movement has already been set last year.
The difference this time round with the issue of Article 50 is that it is simply a matter of time rather than something we did not expect to happen.
Therefore, some people think that the Pound’s value has already been priced in so we may not see as much movement as previously expected.
However, this announcement is unprecedented and there is nothing to compare it with so in my opinion I think we could see one of the most volatile days of the year for the Pound.
There is not a lot of economic data due out prior to Wednesday so I think all the focus will stay on what is happening politically so it is important to make sure that you’re in a position to move quickly should the market take a dramatic turn.
Having worked in the foreign exchange industry for almost 15 years for one of the UK’s leading currency brokers I am confident that not only can I save you money when buying or selling currency but also help you with the timing of your transfer.
If you would like further information or a free quote then contact me directly and I look forward to hearing from you.
Tom Holian [email protected]
Source: http://www.poundsterlingforecast.com/2017/03/27/positive-start-to-the-week-for-the-pound-but-will-it-continue-tom-holian/
