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Will Sterling lose the recent gains its made? (Joseph Wright)

Tuesday, November 15, 2016 10:57
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Sterling’s recent recovery took a knock during today’s trading session, with the GBP/EUR pair dropping by over 1% at one stage.

The GBP/EUR pair had been trading close to 1.17 for the first time in almost 2 months earlier this week, and then overnight the ‘Brexit’ made the headlines once again and as with most Brexit headlines the Pound subsequently dropped. In fact the only time a Brexit headline doesn’t seem to result in Sterling weakness is when there’s talk of it not going ahead.

Today’s drop can be attributed to a leaked memo which showed high-level cabinet splits regarding the Brexit strategy. The memo also alluded to an additional 30,000 extra civil servants needed to fulfill Brexit related projects.

Sterling sellers have been presented with a lift recently and some of those gains are still available. Should Brexit begin to dominate the headlines once again now that the positive effects the Trump election on the Pound are dwindling, I expect the Pound to return to the levels we saw prior to Trumps victory.

If you want to be kept up to date on the markets and you would also like to ensure that you are getting the very top levels of exchange for an imminent currency transfer or even a longer term one then I can help you with this.

Not only do we give clients up to date market information but we all work for one of the largest and longest serving currency brokerages in the U.K, so even if you have dealt with your current broker or bank for a long time I would be surprised if I could not show you a saving over what they are offering you – You can email me (Joseph Wright) directly on  and I will be more than happy to contact you personally to discuss the various options we have available to you.


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