The USA has a new President, so what does that mean for the Pound?
First we had Brexit and now we have another huge game-changer with Donald Trump getting to the White House. We’ve already seen dramatic moves in the currency market as traders try and come to terms with exactly what that all means.
First reaction was to sell the US$ and that sent GBPUSD up to 1.2550 and GBPEUR down to 1.1050. In the following hours and today however we’ve seen a rally in the stock markets that has meant large selling of Euros as investors sell the currency to re-invest amidst fears that in this age of an apparent global protest movement the Eurozone could be next under scrutiny.
GBPEUR has today traded back above 1.1600 and GBPUSD back up to 1.2620 from 1.2350 demonstrating the current volatility as the post-election fallout continues. To be honest, these moves could just as easily be reversed in equally rapid time and the uncertainty is going to continue for a very long time yet.
MSPFX exists to eliminate that risk and instead provides a bespoke service with best exchange rates on all your foreign currency needs for both business and personal use, large and small. Holiday and business cash can even be delivered to your door.
After 35 years in the foreign exchange markets including 18 years as an Interbank trader and market-maker, I’m delighted now to be able to offer the very best in currency services, working with preferred and regulated rate providers to ensure the keenest prices and complete security of funds.
As someone born and bred in Rayleigh, and a life-long Blues fan who still regularly makes the journey from Kent to the hallowed Hall as well as many away games, I’m delighted to be in my 3rd Season as an Official SUFC Partner and I look forward to continue being of value both to the Club and its fantastic supporters.
Whether you are looking to buy and sell overseas properties, emigrate to sunnier climes, better manage your company FX risk, or just get the best rates on your holiday and business cash, my team will provide you with an honest, impartial and informed service.
Go to www.mspfx.co.uk to find out more .You can also contact me directly on 01732 700383, or DM via Twitter @MSPFX. Make sure you mention the SUFC connection to secure your preferential rates over and above even those we usually offer.
Come on you mighty Shrimpers!
MSP Foreign Exchange Services