One of the good things about an election is listening to some of the cleverest people in the country working out what it all means. For example, the polls strongly point towards a Conservative Party majority of around 50 seats. But, say some analysts, could they be too far ahead now? Does that give people carte blanche to vote for their usual party even if they do want “to get Brexit done”? Will people who don’t even like the Tories much bother to turn out on a cold and (probably) wet evening in mid-December?
We get a lot of that over-analysis in currencies too. Personally, when I hear the word Fibonacci, that’s when I reach for my revolver. At Smart we like to keep things simple, and that includes never making currency forecasts. Politically, assuming a Tory majority, the options are Brexit bounce, or no-trade-deal disaster in a year’s time, or a bit of both. A hung parliament means another referendum next year with remain or leave as the two choices. That’s quite a wide range of options.
So you can over-think these things. At Smart we focus on budget, risk and and solution. Determine what you want to achieve this year and the budget you need for that. Talk to your trader on 020 7898 0541 about potential risks to that budget. Agree a rate and secure it with a forward contract. That’s the solution.
Over the next two weeks we expect to be exceptionally busy, so do take the opportunity to call your trader today on 020 7898 0541.
