Tomorrow morning the UK release multiple data releases which has been labelled in the past as ‘Super Thursday’. This is when the Bank of England release their interest rate decision, minutes and quarterly inflation report.
In recent months inflation has been on the rise for two main reasons, the cheap pound and oil prices globally remaining low. I wouldn’t be surprised to see the quarterly inflation report meet the Bank of England’s target of 2% which therefore puts pressure on the Bank of England to raise interest rates.
However with the uncertainty of Brexit raising interest rates I don’t believe is an option for the UK. Uncertainty is an understatement when describing Brexit negotiations. So far EU officials have hinted of a divorce settlement of up to €100bn before Brexit negotiations begin however UK leaders have made it clear they do not plan to pay a euro in the upcoming years.
With GBPEUR exchange rates close to a 6 month high, I personally believe if the Bank of England’s release provides a spike in the market and mid market prices break through 1.20, this is worth taking advantage of. In my opinion it’s only a matter of time until Brexit negotiations make headline news for the wrong reasons which will have a detrimental impact on the pound
The currency company I work for has won numerous awards for exchange rates therefore it enables me to trade GBPEUR / EURGBP at rates better than other brokerages and high street banks. I would recommend emailing me with a brief description of your requirements and your timescales (this is very important, the length of time you have will change your options) and I will email you with my strategy and the process of using our company email@example.com. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn.
** If you are already using a brokerage and would like to know if you are receiving the best rates possible email me with the exact figures and I will reply with our live price. This will take you a few minutes and in the past I have saved clients thousands! **