Daily Archives: January 8, 2018

Sterling climbs slightly as political reshuffle springs no surprises (Joseph Wright)

Sterling sellers have seen a boost to the exchange rates available to them today, after the Pound is up across the board of major currency pairs even if only slightly.

This comes on a day that UK Prime Minister Theresa May has reshuffled her cabinet, with most moves being predictable according to political analysts.

Brexit related news is of course likely to continue to be one of the main drivers of Sterling price movements, although there are reports that the uncertainty surrounding Brexit is beginning to fade. Sterling volatility is expected to wane in the short term future after a market gauge that measures expected volatility was trading at a three-year low earlier today, which means that analysts aren’t expecting to see any market swings in the upcoming months for Sterling exchange rates.

Since the Brexit GBP/AUD has lost quite a lot of value, but the pair are currently trading towards the top end of the recent trend despite GBP losing some value recently as the Aussie Dollar strengthened.

Market predictors are one thing, but I personally wouldn’t rule out a big move in either direction for GBP to AUD exchange rates in the event of a major breakthrough or stumbling block being made public in regards to the second round of Brexit negotiations.

If you have a large currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency. A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Joseph Wright) on jxw@currencies.co.uk and I will endeavour to get back to you as soon as I can.