Sterling outlook is gloomy

The pound was up a little this morning as there are expectations that the Bank of England will eventually tighten their policies thus protecting the pound from the current conservative government.

We had seen two resignations from members of the current government in just over a week. This has dented the confidence that the conservatives can agree a strong deal with the EU as they seem to lack ability.

Priti Patel was forced to resign last night after she had held secret meetings with Israeli officials, this comes just days after Michael Fallon, the defence secretary, resigned in a sexual harassment scandal.

Talks are due to start later today so I can see Sterling volatility set in.

The way things are looking for the pound at the moment is gloomy, there is nothing to suggest the pound will strengthen.

Tomorrow we have the UK industrial, Manufacturing and Construction data being released. Expectations are that the data will come in lower than last month and even lower than the expectations, this could see the pound drop off further.

Speak to us for more information on the markets and where we think the pound is heading.

Leave a Reply

Your email address will not be published.

What's Going On?

Currencies 4 You Ltd is a company registered in England and Wales (registered no. 06866898). Registered office: Regus House Victory Way Admirals Park, Crossway, Dartford, Kent, DA2 6QD. Currencies 4 You Ltd Payment and Foreign Currency Exchange Services are provided by Currency Cloud Limited and Equals Connect Limited. For clients based in the United Kingdom payment services for Currencies 4 you are provided by The Currency Cloud Limited. Registered in England and Wales No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199). For clients based in the European Economic Area, payment services for Currencies 4 you are provided by CurrencyCloud B.V.. Registered in the Netherlands No. 72186178. Registered Office: Nieuwezijds Voorburgwal 296 - 298, Mindspace Nieuwezijds Office 001 Amsterdam. CurrencyCloud B.V. is authorised by the DNB under the Wet op het financieel toezicht to carry out the business of an electronic-money institution (Relation Number: R142701). Payment Services are provided by Equals Connect Limited, registered in England and Wales (registered no. 07131446). Registered Office: Vintners’ Place, 68 Upper Thames St, London, EC4V 3BJ. Equals Connect Limited are authorised by the Financial Conduct Authority to provide payment services (FRN: 671508). Payment services for Currencies 4 You Ltd are provided by Sciopay Ltd. Sciopay Ltd is a company incorporated in England & Wales. Registration No: 12352935. Sciopay Ltd is licensed and regulated by HMRC as a Money Service Business (MSB). Licence No: XCML00000151326. Sciopay Ltd is authorised by the Financial Conduct Authority as an Authorised Payment Institution. Firm Reference Number: 927951. | Terms and Conditions | Privacy Statement | Careers