This Thursday the UK are set to release their latest interest rate decision which will put pressure on sterling throughout the afternoon trading session and potentially for months to come.
The Monetary Policy Committee (MPC) have already cut interest rates since the UK public decided to vote out of the EU and there is a good chance a further cut will occur this Thursday. If this is the case investors could move their assets out of the pound and into a different currency with a higher yield and therefore the pound will lose value.
Economists predictions are split on the decision. Personally I believe last weeks GDP figures will have swayed some members of the MPC to hold off and therefore a cut will not occur. However at least one or two members will vote to cut and consequently the pound will fall in value.
Until we have further certainty in regards to Brexit I believe their are further falls to come for the pound therefore clients purchasing a foreign currency in the next 6 months should start to make plans sooner rather than later.
Feel free to email me the currency pair you are trading (GBPUSD, GBPAUD, GBPCHF etc) the reason for your trade (company invoice, buying a property) and I will email you with my forecast for the currency pair email@example.com.
My area of expertise is property purchases and sales. Therefore if you need to purchase a foreign currency or you are about to complete on a sale abroad, today is the day to get in touch to discuss your options and to get an understanding of how we can save you as much money as possible.
** If you are already using a brokerage and would like to know if you are receiving the best rates possible email me with the exact figures and I will reply with our live price. This will take you minutes and in the past I have saved clients thousands! **