Sterling to remain under pressure during Tory leadership battle
30 May, 2019
With the ongoing Brexit saga and now a Tory leadership battle thrown into the mix, the overall outlook for the Pound in recent weeks and likely the next weeks/months to come is a bleak one. Our regular readers will know by now that political uncertainty isn’t favourable to the Pound and as Sterling continues to trade close to 4 month lows against the Euro and Dollar, potential for further downside is afoot.
Many clients have been calling in ask asking what is the forecast for Sterling once we have a new Prime minister? The short version or the ideal version for the pound would be a pro-deal PM, whoever which a rather large number of prospects throwing their names into the hat, the chance of a no-deal backer shouldn’t be rules out and in that event its likely we could see Sterling take a hit. During the run up to this, its unlikely that we will see the Pound make any real recoveries so for the time being it seems the current levels are set to stay at least for the short term.
For those with Sterling in hand and an imminent transfer to make, you may want to consider looking to secure your currency requirement sooner rather than later. If your buying your dream home overseas or simply looking to get a few extra fancy dinners for your time spent abroad, – don’t leave it to the last minute to get in touch. Speak to us here at Currency Index early on and ask us about how we can help. Our Limit and Stop loss order option could be just the answer to help you avoid further costs in the event the market drops, and our friendly consultants can keep a close eye on the markets and get in touch with you direct to inform you of any uplifts you could take advantage of in these turbulent times.