It was a terrible week for sterling exchange rates. GBPEUR dropped 4 cents and GBPUSD dropped 5 cents.
UK Prime Minister Theresa May announced that the UK will be invoking Article50 in March 2017 which started the initial drop.
Later in the week (Thursday night) the pound temporarily plummeted by 6% in a flash crash. Its been reported that automated trading caused the fall.
UK Chancellor Philip Hammond has exclaimed he believes the currency market will continue to remain volatile however has urged for people to remain calm.
Looking ahead I expect the pound to lose further value however I do not expect to see falls like we have seen this week.
Data releases which will have a major impact on exchange rates this week are UK Consumer Price Index Tuesday morning, Average earning Wednesday morning and Retail Sales Thursday morning.
If you are reading this website in order to find out information in regards to buying or selling the pound I can help you achieve the best exchange rates on the market whilst keeping you up to date with economic information.
Its important to analyse both currencies that you will be trading therefore I would recommend emailing me with the currency pair (GBPUSD, GBPAUD, GBPCHF etc) the reason for your trade (company invoice, buying a property) and I will email you with my forecast and the process of using our company email@example.com.
** IF YOU ARE ALREADY USING A BROKERAGE TO BUY YOUR CURRENCY IT WILL TAKE TWO MINUTES TO EMAIL FOR A COMPARISON AND I AM CONFIDENT I WILL BEAT ANY PRICE YOU ARE CURRENTLY RECEIVING **