Sterling exchange rates have started off relatively stable this morning remaining steady at the 1.55 level. Following last Thursdays positive GDP figures the pound has reversed some of the losses seen recently against the Aussie, this sis something that may continue as the threat of further Quantitative Easing from the UK becomes less likely. Prior to last Thursday’s data the general feeling was the Bank of England would pump up to £50bn through QE into the system at the interest rate meeting next week, however this is now unlikely and as a result the pound may well have been slightly undervalued and I could easily see a move back towards 1.56/57 territory. Buyers therefore may wish to take stock and get in contact to run through the various contracts we can offer to secure your currency.
Through utilising the services of a money broker clients can put themselves in a much better position when it comes to the timing of their foreign exchange transfer. As part of the service your broker will keep you updated with market trends and upcoming market date that can affect your trade. Market conditions are particularly volatile and it is not uncommon to see market swings well in excess of 1 cent, by keeping your broker updated with the timings of your exchange we can contact you should your target price be reached or keep you updated should the market be moving against you. To discuss the transfer and many different contracts we can offer please contact Mike on 01494 4787478 or email me direct at [email protected]