Are EU in or are EU out
23 June, 2016
Since the end of last year we have seen rates for buying currency from the pound suffer, notably dropping from over 1.40 against the single currency ahead of the uncertainty that Britain may leave the E.U. In recent weeks we seen the pound move over 5% alone both up and down as the battle between leave and remain camps has played out. Now after much anticipation, the vote a lifetime is upon us – a vote as to whether we should remain or leave the European Union, the EU referendum vote.
It is one of the biggest events in the history of the currency markets also as far as the pound is concerned, as this decision will decide the economic path upon which the U.K is set, with analysts warning of as much as a 5-10% initial swing in exchange rates.
If you haven’t considered the risk this may pose to your overseas property purchase, or business profit line there is still time to protect it rather than putting it on what could be 50/50 bet. Today we have a number of data releases from Europe and the U.S, most notably long term refinancing ecostats from the ECB, and with unemployment and new homes data from the US. However all focus will be on the Pound as the markets eagerly await the news early on Friday morning.
Please note we have extended opening hours over the referendum, so can be contacted outside of normal working hours – for further info, look at our website – https://www.currencyindex.co.uk/. Or please call your Currency Index Broker today for some friendly and professional guidance.
And please remember to vote responsibly!
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