It appears that my predictions from the back end of last year are so far looking pretty good as throughout reports from September onwards I have said that late January onwards will be the time for The Pound to make a fightback - the question is how long will it last??
There are a number of underlying factors that are still sniffing around that may falter the climb in the near future inclusive of Retail sales figures for January which I believe will be particuarly dire with the weather we have seen, this will all affect the revised GDP figures and may hamper SDterling really pushing on in February.
Also there is due to be a lot of political instability with the Iraq inquiry and an upcoming election which may lead to Sterling weakness alongside the final negative being the terror alert in the U.K being extremely high at present - should anything actually happen this could really knock the Pound immediately.
The four factors that effect the value of a currency are Economic stability, Political uncertainty, Acts of Terror and Acts of god.
If you have an upcoming requirement it may be worth hedging your bets and booking half on a forward contract so that you know even if these factors do bring the Pound crashing back down you have at least taken some advantage of this spike.
This is a brief summary of todays report for further information on the currency markets or if you have an upcoming transfer to make and want to discuss the options available to you call Daniel Wright on 01494 787462 or email me djw@currencies.co.uk
I assist thousands of clients to send money overseas or receive money from overseas involving the following currencies - Please note I do not deal with cash it is bank to bank only!! AED AUD BHD CAD CHF CZK DKK EUR GBP HKD HUF INR ILS JPY KES KWD MAD MUR MXN NOK NZD OMR PLN SAR SEK SGD THB TRY USD ZAR
Have a great day and thanks for reading!
Daniel Wright
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[09:07:23] Chris Knights:
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