PM does little to help the Pound
Again a lack of unity and a failure to compromise holds back Sterling. If there is one thing the market reacts badly to it is uncertainty, it is even sometimes the case that bad news is better than no news. It seems hopes of a soft Brexit have been dashed and we are no closer to getting a deal in place.
There was the hope that Theresa May would be able to provide some form of clarity on Brexit negotiations and that progress had been made. It still seems she wishes to cherry pick aspects of the deal which will not make Brussels happy.
Cabinet members seemed more concerned with their own political agendas rather than trying to get a deal in place.
I am of the opinion Sterling is chronically undervalued, but the pound does not have much chance of a significant rally without clarity on Brexit. GBP/EUR remains range bound between 1.11-1.15. If you are buying Euros short to medium term get something booked if GBP/EUR hits the low 1.14s, too high expectations could prove costly.
A limit order maybe the best opportunity to maximise your return. Set the target rate of exchange and should it become available 24hrs a day your currency will be purchased at a level you are happy with
If you have a currency requirement I will be happy to assist. It is crucial to be in touch with an experienced broker when the market is currently so hard to predict. If you let me know the details of your trade I will endeavour to produce a free trading strategy to suit your individual needs. Have faith knowing you will be dealing with a brokerage in business for over 16yrs, Foreign Currency Direct Plc. We are a no risk entity as we do not speculate on the market and we are registered with the FCA. If you have a currency provider take a minute to send over the rates they offer and I am confident I can demonstrate a significant saving. I can be contacted at email@example.com . (Daniel Johnson) Thank you for reading.