It has been well documented that Donald Trump’s appointment as President of the United States of America has given sterling a boost against most of the major currencies which is good news for foreign currency buyers. In addition, Unemployment numbers dropped today to a 11 year low to 4.8% (released by the office for National Statistics) providing further strength for the pound.
Retail sales is a measure of the total receipts of retail stores and is a key indicator to consumer spending. The monthly figure is set to rise by 0.4% and the yearly figure up by over 1%. If this is the case I expect the pound will spike further against most of the major currencies which provides a window of opportunity.
Longer term the UK’s Supreme Court decision in regards to Brexit, should continue to ask questions about the strength of the pound. It’s difficult to predict the Supreme Courts decision and how the UK will leave the EU, however the closer we get to the decision volatility will rise and therefore the gains we have seen could diminish. For foreign currency buyers before Christmas, in my opinion the spike in the market is worth taking advantage of.
If you are looking for a currency provider who can keep you up to date with exchange rate movement whilst being able to offer excellent exchange rates, feel free to email me Dayle Littlejohn email@example.com with the currency pair you are trading, the reason for your transfer and the timescales you are working to and I will respond with my forecast.
The type of clients I deal with on a day to day basis are high net individuals, property buyers/ sellers and business owners. In addition if you are already using a brokerage feel free to email me and we can compare exchange rates to make sure you are receiving the best rates possible firstname.lastname@example.org.