Sterling fell slightly against most currencies yesterday – the start of the trading week in the UK if not elsewhere – especially against the euro. However, this appears to be more a result of the euro strengthening than any particularly bad news on the sterling side and GBP/EUR remains well above the 2023 average.
However, it’s only the start of the week…
We’re entering that part of the month that resembles coming to the side of a Monopoly board where your opponents have houses not just on Mayfair and Park Lane but on the nasty green ones too. Over the next seven days there will be readings for GDP, unemployment and inflation, as well as multiple speeches by members of the Bank of England interest rate-setting committee the MPC, including Andrew Bailey today.
To avoid the risk that any of those severely affects the pound, and your budget for buying a property abroad – especially if you are already committed – do please give your trader a call today on 020 7898 0541.
Would you be able to complete if you had to find another £10,000 in a hurry? Sadly this is an all-too-common scenario, easily avoided via a forward contract.
We’re putting the final touches to our next quarterly forecast, so do look out for that next week. But I can tell you that the major banks’ predictions for sterling are not good.
