Supreme Court Verdict due this morning and the impact on exchange rates (Tom Holian)

Sterling exchange rates are in for another big day ahead with the imminent release of the Supreme Court ruling due in the next hour.

We should finally have the long awaited announcement of the verdict as to whether Prime Minister Theresa May will be allowed to trigger Article 50 without parliamentary approval.

However, as confirmed in her speech last Tuesday which saw some huge gains for the Pound the verdict may not be as important had she not spoken out about the subject last week.

Whatever happens with the verdict this morning I expect this to cause big movements for Sterling against both the Euro and the US Dollar as it brings up the subject of the single market and access to it which really concerns investors.

It could be argued that if the vote goes the way of the government then it allows them to take back control and continue with their attempt to trigger Article 50 by the end of March and therefore with more certainty this could provide strength for the Pound.

However, the other side of the argument is that if the Supreme Court does rule in favour of the government then this could make a hard Brexit more likely causing Sterling to fall.

Whatever happens I expect there to be a lot of volatility of the markets today so if you’d like a free quote then call me directly for a more immediate response on 01494787478 and ask for Tom Holian when calling.

My personal expectation is that we could see some Sterling strength if the decision goes the way of government as it means that the government will be back in control of the situation rather have further obstacles ahead of them.

Clearly whatever happens this morning there will be more twists and turns ahead regarding the Brexit strategy and ultimately the process of leaving the European Union.

Having worked in the foreign exchange industry for one of the UK’s leading  currency brokers I am confident of being able to offer you bank beating exchange rates as well as helping with you with the timing of your transfer.

If you need to make a transfer soon or over the next few weeks and are worried about the ongoing uncertainty of the markets then it may be worth looking at buying a forward contract which allows you to fix an exchange rate for a future date.

For further information or for a free quote then contact me directly and I look forward to hearing from you.

Tom Holian [email protected]