Visitors Now:
Total Visits:
Total Stories:
Profile image
By Pound Sterling Forecast (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Will the pound keep rising?

Friday, November 11, 2016 10:14
% of readers think this story is Fact. Add your two cents.

(Before It's News)

This week has seen sterling make some of the most impressive gains in recent history and has gone from being one of the world’s worst performing currencies in October to so far the world’s best performing currency in November. Will this twist for the pound be as quickly reversed as it occurred or are we now looking at the start of a new chapter in the value of sterling? Nothing should be taken for granted on exchange rates and the moves this week serve as a reminder to any clients who think they can second guess the market and are assuming they know what will happen longer term.

Unexpected events can often happen on exchange rates and this week the election of Donald Trump proved that we should always expect the unexpected. Trump’s election has sent ripple through financial markets and tipped the balance of countries seeking control over their economies and borders (now the US and the UK) versus those in favour of open borders and more monetary integration (the Eurozone). With attention now turning to political concerns in the Eurozone the Euro has lost ground and sterling has been seriously buoyed as investors seize on the pound’s low value and await further improvements longer term.

This month there is still plenty of data and events to move financial markets including the Autumn Statement. I think sterling will now enter a period of consolidation and will not just keep rising in this market. There are too many negatives for the UK to overcome and I do feel anyone buying a foreign currency with the pound should be cautiously optimistic.

For more information at no cost or obligation please speak to me Jonathan Watson chief analyst and associate director by emailing jmw@currencies.co.uk or filling in the form below.

[contact-form]

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Total 1 comment
  • It’s very hard to say where we will see Pound going further, but it could remain steady as for now. I will like to keep it all very much simple and straight forward which is helped further by OctaFX broker and due to their mighty conditions. I am able to do it all very nicely having tiny spread from 0.1 pips, over 70 instruments to select from, rebate scheme where I get 50% back on all trades plus much more, it’s just too good!

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.