Wednesday, 4 May 2016

Wednesday, 4 May 2016

The Fickle £

You will have noticed the Pound strengthening across the board over the last 2 weeks due to Brexit speculation dimming and more opinion polls suggesting the UK public will most probably vote to remain "in".

We saw the GBP/EUR rates as high as 1.29 and GBP/USD rates have climbed above 1.46.

The most concerning aspect is that this strength has only come from speculation regarding the EU referendum, which in my mind makes the Pound still very fickle as it will move on any opinion poll result.

The only certain aspect is that markets react quickly and hate uncertainty. Volatile rates could be expected over the next 6-8 weeks.

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