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You are here: Home / Economic Information / Brexit still dictating Sterling value (Daniel Johnson)

Brexit still dictating Sterling value (Daniel Johnson)

August 15, 2018 by Daniel Johnson

GBP/EUR – We have recently seen GBP/EUR rise to the 1.12s, however I believe this is more due to Euro weakness than Sterling strength. The ongoing trade war between the US and Turkey has the potential to escalate. With the US targeting steel with it’s tariffs and Turkey being a significant exporter it is hitting the Turkish economy hard. There is also a refusal to change monetary policy from Turkey which has the potential to cause further damage.

If the IMF are forced into a position where they need to provide Turkey financial assistance this will impact the Euro and investors are watching the situation with a keen eye. If it were not for the lack of clarity surrounding Brexit I would of expected a more significant gain for Sterling.

There have been unconfirmed reports that Brussels are willing to allow the UK access to the customs union and still have control of it’s borders. If this possibility becomes substantiated this will be very good news for the Pound and we could expect a Sterling rally.

At present however a “no deal” scenario is still a possibility and I expect the pound to be anchored at low levels until we have firm news and clarity on a Brexit deal.

If you have a currency requirement I will be happy to assist. If you let me know the details of your trade I will endeavor to produce a free trading strategy. During a period of such uncertainty it is important to be in touch with an experienced broker if you wish to maximize your return. We have tools at our disposal to make sure you do not miss out if there is a spike in your favour.

If you already have a currency provider in place. Drop me an email with what you are being offered and  I am very confident I will be able to demonstrate a significant saving. It will only take you two minutes and I am  sure it will be worth your while. You can trade in safety knowing you are with a Foreign Currency Direct PLC, a firm trading for over 16yrs and FCA registered.

If you would like my help feel free to email me at dcj@currencies.co.uk.

Thank you for reading.

Daniel Johnson

Filed Under: Economic Information, Euro Weakness, Media Quotes, The Week Ahead Tagged With: Bank of England, Best EUR exchange rates, Best GBP/EUR exchange rates, Best UK exchange rates

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