British Pound Hits Multi-year Lows

Pound Sterling has dropped more than 7% in the past three months, making it the worst performer among all major currencies.

It now sits near multi-year lows against both the Euro and the Dollar.

But as the 31 Oct Brexit deadline approaches, Pound Sterling is expected to remain under pressure.

Markets are only beginning to wake-up to the prospect of a no-deal Brexit.

The odds have now escalated to 30% based on a survey carried out by Bloomberg last week. That’s more than 3 times the level from a similar survey only a few months ago.

What’s more the UK economy is starting to crack, with the economy shrinking in the second quarter – the first time it has done so in six years.

Given the exchange rate volatility we are seeing, it’s important to stay alert to opportunities. We can monitor the market tailored to your requirements and help you exchange on the back of strength not weakness.