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Waiting until the 23rd June might be too late!

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If you are looking to maximise a sterling conversion whether buying or selling the EU Referendum is the best chance in years. This is bigger than the General Election last year where we saw 5% movement on sterling in the week of the election. It is bigger than the Scottish Referendum where we saw GBPEUR rise 5 cents on the result. The EU Referendum could be more like the pulling out of the Exchange Rate Mechanism (ERM) in 1992 where the rate plummeted by 20%. The thing is despite the pound falling by almost 10% already so far this year and about 15% from the highs last year the pound is still at quite favourable levels for buying many currencies compared to where we were during the Recession.

Client buying euros with pounds might remember when the rate was almost 1 to 1, it was a real gem to suddenly have rates to buy Euros above 1.20. On the Aussie clients selling pounds had to tangle with exchange rates of 1.50-1.6 making the current rates on offer of 1.9 and 2 not too bad at all.

‘Waiting to see what happens’ on the 23rd June could lead to disappointment as this might be too late! Now is the time to be making plans for any exchange rates you are looking to secure. Whilst Remain is pretty much the favourite, the Leave camp has been gathering real pace and nothing should be taken too much for granted.

If you have a particular exchange in mind why not highlight your position to us so we can help? We offer a personal proactive service to not only help with the timing and planning of any exchange but to also offer a better exchange rate than other companies. To find out more all you need to do is email me Jonathan Watson a brief description of your position on [email protected]. What have you to lose? Waiting until after the 23rd June might be too late…


Source: http://www.poundsterlingforecast.com/2016/06/09/waiting-until-the-23rd-june-might-be-too-late/


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