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

Now:
Last Hour:
Last 24 Hours:
Total:

What impact could the Budget have on Sterling exchange rates? (Tom Holian)

Tuesday, March 7, 2017 1:57
% of readers think this story is Fact. Add your two cents.

(Before It's News)

Sterling Euro exchange rates have continued to struggle this week with the UK Budget set to be announced tomorrow.

It appears as though the money that would usually be allocated is being held back to pay for the potential Brexit negotiations and as yet it is not clear how much that cost will actually be to the UK.

However, the expectation is that we’ll see an increase to the UK’s growth forecast from 1.4% to 2% this year and if this is the case we could see a small upturn for Sterling.

If we look at how Sterling performed this time last year when the previous Budget was announced the value of Sterling fell against both the Euro and the US Dollar highlighting the importance of timing when to buy your currency.

Eurozone GDP data is due to set the tone for the day with the release at 10am this morning. The expectation for year on year is 1.7% so anything different is likely to cause some big swings for Sterling vs Euro rates this morning.

The potential biggest day this week in terms of economic data comes on Thursday with the eagerly anticipated release of the latest European Central Bank’s decision on interest rates. I don’t think we’ll see any change to policy this month but the accompanying statement could provide some further movement for Sterling vs the Euro.

With the UK’s future still massively uncertain owing to the problems caused by what is happening with Article 50 and still no formal date announced this is likely to continue to cause problems for Sterling in the short term.

Therefore, if you’re buying Euros it may be worth organising this in the near future before the uncertainty of what may happen once Article 50 is formally triggered.

Having worked in the foreign exchange industry since 2003 I am confident of not only being able to offer you bank beating exchange rates but also help you with the timing of your transfer.

If you would like further information or simply a free quote then contact me directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk



Source: http://www.poundsterlingforecast.com/2017/03/07/what-impact-could-the-budget-have-on-sterling-exchange-rates-tom-holian/

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
  • Ahmed

    To be fair, it is impossible for anyone to say where it all is going to land, so we need to be extremely watchful with how we go about doing things. I work it all nicely and straight forward under OctaFX, as they are awesome with having wide range of features and facilities that counts for lowest possible spreads at 0.1 pips to over 70 instruments to rebate scheme and several other benefits, it works incredibly well in my favor.

Top Stories
Recent Stories
 

Featured

 

Top Global

 

Top Alternative

 

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.