‘Brexit’ has potential to move exchange rates by huge margin
Commentary last year from our Foreign Currency Partners :
Last month was a very positive one for sterling, with the GBP/EUR rate climbing from a low of €1.26 to a 4 month high of €1.32. As regular readers of our reports will be well aware, the volatility for the pound is being caused by the EU referendum, which is now only 3 weeks away.
What could happen to the pound? In my 10+ years as a currency broker, I can’t recall anything in that time that presents such a risk for the pound, or that has the potential to affect sterling exchange rates so much. The ‘Credit Crunch’, last year’s surprise conservative general election victory, and the Scottish independence vote all created some significant volatility for the pound, but none of these events have the potential to move the markets as much as this month’s vote could.
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