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Will the Pound fall following Wednesday’s GDP data? (Tom Holian)

Will the Pound fall following Wednesday’s GDP data? (Tom Holian)
July 24
16:44 2017

The currency markets appear to have started to lose faith in Sterling recently as the Pound continues to struggle against the Swiss Franc.

Politically the UK is still very unstable and in the weeks since the beginning of the Brexit talks they don’t appear to have gone very well so far.

Indeed, Sterling is still very low against the Swiss Franc and the next potential for exchange rate movement will come on Wednesday morning when the UK releases its latest set of GDP data for the second quarter.

I personally think this could cause a problem for the Pound as this quarter includes the beginning of the Brexit talks as well as the general election.

The expectation is for 1.7% year on year so anything lower could see the Pound fall even further against the Swiss Franc.

The Pound has also been having problems caused by the issue of inflation.

Although the rate of inflation has been falling which could be argued as a good thing for the British economy this now means that an interest rate hike is now a lot less likely and this has caused the Pound to fall against the Swiss Franc as global investors move their money away from Sterling.

If you have a currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency.

A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on teh@currencies.co.uk and I will endeavour to get back to you as soon as I can.

 

 

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Tom Holian

Tom Holian

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