New year, New rates, but for how long?

8 January, 2019

Grace Rae

Yesterday was relatively muted on the markets with little market-moving data releases out and today could be more of the same as the majority of the data is due tomorrow onwards. The Pound has made some small gains this new year from where it sat over the Christmas period providing some better trading levels, but the question would be for how long? With the Brexit vote looming, the Prime Minister has continued to work on gaining further assurances from EU leaders regarding the Northern Ireland border issues and with the Brexit vote due next week, there is a fear these current levels could be short-lived should the vote to Brexit not go ahead.

Currency will always fall short to political uncertainty and with plenty more of that to come it’s unlikely we will be seeing the rates rise to the levels we saw pre-referendum so if you have a requirement to exchange funds and have some capital it could be worth talking to one of our brokers today about our Forward Contract option. This helps you lock in your full requirement at today’s exchange rates with just a 10% deposit, meaning you can secure your full requirements and not break the bank doing it, and removing your risk in a volatile market.

If you are concerned about the exchange rates, or if you would simply like to get more information, get in touch with us today to speak to one of the team about your options.