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

Now:
Last Hour:
Last 24 Hours:
Total:

Will the pound rise or fall now?

Wednesday, February 22, 2017 11:04
% of readers think this story is Fact. Add your two cents.

(Before It's News)

Sterling is enjoying some fresh buoyancy at the moment with all eyes on the impressive gains seen against the Euro with rates hitting 1.19 today presenting the best levels to buy Euros with pounds in 2017. Against the US dollar the pound is also higher and the likelihood is that the pound could even rise further as markets seem to shrug off the fears over Brexit and ponder if actually life outside of the EU will not be all too bad. The big question as always is will this be a short term spike to take advantage for clients buying a foreign currency with the pound? Or should clients looking be looking for an quick exit strategy?

In my opinion the pound is going to remain very susceptible to shocks from unexpected news which could move the rates. If you are looking to buy the pound then I would not be giving up hope just yet, hopefully there will be some further improvements after a couple of tough weeks. The Article 50 negotiations, the triggering of Article 50 and in some cases some worse economic data could all contribute to a decline in the value of the pound. Most commentators suggest the worst is not over for sterling, this recent buoyancy should not be taken too much for granted!

The recent improvement is not necessarily the result of the pound doing better, more the other currencies weakening. In particular the Euro has weakened lately which is not a good sign for the future for clients holding Euros. I would suggest that the Euro will come under further pressure in the coming weeks as we approach the Dutch and French elections. However analysts expect that the pound will probably weaken further before it gets stronger.

The likelihood of the pound rising significantly are in my opinion slim. There is still tremendous uncertainty over the Brexit and this will manifest sooner or later for sterling. If you have a transfer to make in the coming weeks or months why not start preparing for your exchange rate now? To discuss strategy and options please contact me Jonathan on jmw@currencies.co.uk.



Source: http://www.poundsterlingforecast.com/2017/02/22/will-the-pound-rise-or-fall-now/

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

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.