Which way next for the Pound?
More recently, the big global issue has been rising tensions between the US and China – the world’s two largest economies.
It affects all currencies.
If the situation escalates, it is likely investors will dump the Pound in favour of safe-haven currencies like the US Dollar, Japanese Yen and Swiss Franc.
Don’t forget Trump has an election later this year. It will suit his political strategy to pick a fight with China.
The other issue putting pressure on the Pound is the 6-letter word: Brexit.
No extension has been agreed with the EU. It’s a ticking time bomb for the Pound.
If you have requirements to move EUR into GBP, consider taking advantage of the recent move in your favour.
If you need to purchase EUR, consider putting a line in the sand around current levels. While the rate has been higher, things could look a lot uglier in the coming weeks.
You can discuss your specific requirements with a member of the trading department on 01872 487 500.
To find out our latest rates, request a free quote below.
Thanks For Reading, What Next?
Have a great day, Geoff Lambourne - Direct Dial me on 0044 (0)1872 487 470.
Current rates:
Tuesday 26th May 2020 at 09:25
£1.00 GBP = 1.1216 EURO
£1.00 GBP = 1.2270 USD
£1.00 GBP = 1.8592 AUD
£1.00 GBP = 1.9936 NZD
£1.00 GBP = 1.7067 CAD
£1.00 GBP = 21.3655 ZAR
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