End of the month Positivity

By Luke Dyson

The end of the month is here and finally ending on a positive note for sterling. Covid cases are at last plummeting with a 38% drop in case numbers week on week. With scientists suggesting this will be the end of the third covid wave but also the last one! This should now be very positive for the future of sterling in the months to come with increased consumer spending boosting the heavily damaged economy.

For the week to date we have seen sterling drastically strengthen across the board for the G10 currency pairs (AUD, CAD, EUR, JPY, NZD, NOK ,CHF, USD) except Swedish krona, making it currently an excellent buying opportunity in the short term for anyone with up and coming currency requirements. However with the positivity and as sterling begins to make traction our limit order strategy could be of good use to secure the new highs along the way.

With sterling now holding its strength and beginning to make gains if you are a currency seller please take advantage of the current rates whilst the high levels of uncertainty are still hovering around in the market. If you have not got you currency to convert in hand but will do in the near future please get in touch with your currency consultant to discuss the options for a forward contract where we can secure the rate with a 10% deposit. Allowing you to take full advantage of the current situation.