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Will the Pound rise through April as it historically does? (Joseph Wright)
The Pound tends to perform well through the month of April, and with the triggering of Article 50 taking place last month removing the uncertainty surrounding the UK economy moving forward, many may be expecting to see the Pound continue this trend.
The Pound has gained against the US Dollar every April for the past 12 years which just shows how common it is for Sterling to strengthen during this time, but how GBP exchange rates perform this month will likely be tied to a number of factors.
In France later this month there will be a important election, and should Marine Le Pen, the far-right Presidential candidate for Front National put in a strong first round performance I’m expecting to see the Euro fall which will likely push GBP/EUR upward.
A potential downside for the Pound could arise from a political standpoint, which has been the case since the Brexit topic arose. Gibraltar has hit the headlines this week as disagreements between the territory and Spain have arisen and think issues such as this one, along with references to the free movement of people and trade negotiations could all send Sterling tumbling down.
Should these matters remain out of the public discourse I think seeing GBP/EUR closer to 1.20 towards the end of this month wouldn’t be unrealistic, as GBP/EUR appears to have broken the 1.17 ceiling it’s been struggling with.
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.eurorateforecast.com/2017/04/05/will-the-pound-rise-through-april-as-it-historically-does-joseph-wright/
