The International Monetary Fund (IMF) yesterday a stark warning as to the impact a “Brexit” will have on the UK economy. It was said If the UK are to exit the EU it “could do severe regional and global damage by disrupting established trading relationships.” Current polls suggest those in favour of a “Brexit” now lead the polls at 52% which is very worrying for the UK economy. George Osbourne also stated, stating “For the first time we are seeing the direct impact on our economy of the risks of leaving the EU. If the British economy is hit by the mere risk of leaving the EU, can you imagine the hit to people’s income and jobs if we did actually leave?”
The IMF has acut the UK economic growth forecast from 2.2% to 1.9%, the weakest forecasts for several years and one of the biggest cuts to any leading global economy.
Looking at the risk/reward factors involved with a GBP-AUD trade is key. If the UK were to remain in the EU I would expect GBP/AUD to rise by around 10 cents. However, if there was a “Brexit” I would expect a fall of over 25 cents and the chances of a quick recovery will be extremely slim. HSBC have predicted it could cause parity on GBP/EUR. The safe option I feel would would be to move before the referendum on 23rd June.
If you have a currency requirement I would be happy to assist. I specialise in property and commercial trades and I am in a position to beat high street banks exchange rates by as much as 5%. I will also provide an individual trading strategy to try and maximise your return. Please do get in touch for a free, no obligation quote by e-mailing me at [email protected]. Thank you for reading my blog it is appreciated and I look forward to hearing from you.