Supreme Court ruling devalues sterling (Dayle Littlejohn)

After 3 days of lawyers discussing if Theresa May has the power to invoke Article50 sterling exchange rates have begun to fall. Furthermore MPs in the Houses of Commons have been debating Labour’s call that the Brexit plan should be outlined to the public before Article50 is triggered. Tomorrow both sets of lawyers will give their closing statements and I expect this could cause further volatility for the pound and therefore sterling exchange rates could fall.

GBPEUR forecast 

With the pound falling across the board, I still think there is a good chance GBPEUR could rise tomorrow. The European Central Bank will inform the market of future monetary policy and in particular the quantitative easing program.

Many economists believe an extension will occur and therefore a rise in GBPEUR exchange rates could occur. Tomorrow is an important day for GBPEUR exchange rates for the remainder of the year, if you would like to be kept up to date due to an upcoming transfer please email me directly [email protected].

If you are trading another currency pair that I have not covered, feel free to email me with the pair (GBPUSD, GBPAUD) the reason for the transfer (company invoice, property purchase) the timescales you are working to and I will respond with my forecast and the process of converting currency. My direct email address is [email protected] and I look forward to receiving your email.

If you are buying or selling euros in the upcoming weeks and are looking to achieve competitive rates of exchange whilst receiving regular economic information feel free to email me with your requirements or call the trading floor on 0044 1494 787478 and ask for Dayle Littlejohn.