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Sterling exchange rates extremely fragile against all currencies (Daniel Wright)

Thursday, October 13, 2016 0:24
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(Before It's News)

The Pound remains on a knife edge against most major currencies at present, with sharp swings happening totally out of the blue. Today has not been so bad but as an example yesterday evening Sterling lost around 1% in value within an hour, only to gain the majority of it back by the time we came back to the trading floor this morning.

The rest of this week we have a fairly minimal amount of economic data out for the U.K but overnight there are plenty of releases from China which may impact the AUD and NZD along with a flurry of data from the States, not to forget the on-going U.S election which is really starting to heat up.

Next week we will see the U.K release of inflation, unemployment and retail sales data and those waiting for the Pound to get stronger will be hoping that these are positive and act as the catalyst they have been waiting for to pick the Pound back up off of the floor.

With so many violent and unpredictable swings happening it is more vital than ever that you have not only a currency broker helping you with your exchange, but a proactive and well experienced one as booking your rate of exchange at the right time or taking advantage of a spike in your favour can make the difference of thousands of Pounds.

This is where we can step in, there are many currency brokers out there that will say they offer the best rates but the majority are beatable and do not necessarily give you the best level of service. We like to think we do both and with over 100 years of experience between myself and all other writers on this site you would be mad not to give us a try.

Even a quick email to ask for a quote will take you just two minute to do and may make a healthy difference to the cost of your upcoming transaction. We deal with clients that need to buy or sell the Pound all day every day and help with exchanges from £5000 to mulit million transactions. Feel free to email me (Daniel Wright) on djw@currencies.co.uk with a description of your needs and I will be happy to contact you personally.

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