More of the same, or Breakout imminent?

26 February, 2018

Matthew Boyle

It has been a flat few weeks for Pound, with it trading range bound particularly against the Euro. Indeed, since June of last year we have seen GBP>EUR rate move within around a 4-cent range as Brexit uncertainty amongst other things have left it flat and with a little stage from which to make any movement.

Against the USD again we have seen rates up and down over e last few weeks as it seems a race is on for who will raise interest rates first- the US or UK.

So are we due to see more of the same, or will rates breakout, and if so will that be up or down?

This week is a busy week in the way of data – interest rates will be in the spotlight with speeches from MPC and FED members, and Brexit negotiations remain at the fore of everyone’s minds.

With GBP>EUR rates close to the best they have been since September and GBP>EUR rates, the best they have been since June 2016 (bar a few recent spikes) can you risk taking the chance that we will see rates drop again? Given this has happened numerous times recently at the least you might like to consider splitting your transfer into tranches to split your risk?

Speak to your Currency Index broker today for some friendly and professional guidance on how to try and the most out of your transfer.

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