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Is the Pounds value about to take a turn for the worse? (Joseph Wright)
Those watching the Pound closely will be aware that since the UK’s Prime Minister, Theresa May invoked Article 50 and officially initiated the Brexit, the Pound has actually been boosted and so far it’s managed to hold onto the gains seen in the immediate aftermath of the start to Brexit.
There’s an argument to suggest that the political certainty this has offered the UK has resulted in the Pound receiving a boost to its value, which has created better buying opportunities for those converting their Pounds into other major currency pairs such as the Euro, Pound and Australian Dollar among others.
Now that the direction the UK is taking is clear, I think that economic data will begin to become more closely watched by traders and investors with interests in the Pounds value. This is likely to result is greater reactions (in terms of price fluctuations) off the back of the data releases as how the UK is performing during this crucial time is likely to be a key topic.
The UK economy has been performing well in recent times and earlier this week there were some strong services data figures which pushed the Pound upward. Today on the other hand UK manufacturing production figures disappointed which caused a slight sell-off in the Pound, and moving forward I’m expecting to see similar reactions to data releases.
Do feel free to register your details with me if you wish to be kept up to date with key data releases which could impact GBP exchange rates.
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.
You can also call in and speak with me directly on 01494 787 478 if you wish, just call in and ask reception to speak with Joe.
Source: http://www.poundsterlingforecast.com/2017/04/07/is-the-pounds-value-about-to-take-a-turn-for-the-worse-joseph-wright/
