It has now been over eight weeks since the electorate voted in an advisory referendum to leave the European Union. The current reality of the situation however is I do not think those tasked with implementing a Brexit know how to do so efficiently and indeed when to. Theresa May has stated “Brexit means Brexit”, but despite this there doesn’t seem to be any rush to trigger article 50, in fact I wouldn’t be surprised if it was never pushed at all. If this is the case I do not expect any significant Sterling rally short to medium term.
The RBA cut interest rates less than a month ago and it has not had the desired outcome. AUD continues to hold strong, which could be attributed to the continual rise in property prices and property value. It seems even monetary policy is having little effect on weakening the Aussie. The current climate does not bode well for Sterling. If you are buying Aussie it may be wise to move at current levels.
If you have a currency trade it is vital to be in touch with an experienced broker. The timing of your trade is crucial during such a volatile times, If you have an experienced broker on board he/she can keep you up to date with what is happening in the market to help you make an informed decision. If you would like me to assist with your trade I will be happy to help. If you inform me of the the currency pair you are trading, volume and time scale and I will provide a free trading strategy to suit your needs. I work for one of the top brokerages in the country and as such I am in a position to beat nearly every competitors rate of exchange. You would be looking at around a 4% saving in comparison to high street banks. Please do get in touch by contacting me at [email protected]. Thank you for reading my blog. The quickest method to get in touch is by filling in the form below and we will be in touch ASAP.
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