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Sterling likely to stay under pressure

"Brexit" process and timeline likely to dominate financial markets for months to come...

Monday 24th June at 12:30 - £1.00 GBP = 1.20 EUR

Regardless of which side of the debate you have been on, it's undeniable the words 'Brexit' and referendum have got on people's nerves due to their over-use these last few months. Unfortunately, they are set to remain in everyday use when it comes to financial, currency and stocks & Shares markets.

Last week's vote by the British public to leave the European Union has ensured our newspapers and TV news shows will be dominated by issues surrounding this subject.

The next and most imminent process on the agenda is for a new prime minister to be defined following which a discussion can be had on how and in which fashion to invoke "Article 50" - the right of any EU member to leave the union. EU spokesmen and key figures have all called for the UK to do this as quick as possible, however, while we still need to identify the prime minister to do this they may be waiting a while. 

Sterling is, as expected, likely to stay under pressure for the foreseeable future. The UK now heads into a period of considerable uncertainty, this leaves the pound susceptible to further weakness.

GBP/USD Pairing 

Friday's GBP/USD European/New York trading rate was $1.32 - $1.39, this week's trading range will by no means be restricted to that. Should markets encounter further anxiety, sterling could bear the brunt.

GBP/EUR Pairing

GBP/EUR also saw significant weakness, however, with the current situation extremely negative for the EU and eurozone, damage encountered against the shared currency should be limited to an extent.

FC Exchange

Extended trading hours between 20–27 June 2016

Trading hours

Monday 27th June – 6:00am – 10:00pm

Do you want more information ?

So if you need to buy or sell sterling and would like to be kept up to date with all the latest data releases and exchange rate movements then feel free to contact myself Ben Amrany. If you are buying or selling a house in France we will make sure your monies are in the right place at the right time, we work hand in hand with you and Cle France.

For more information on the currency service I can provide please feel free to contact myself...

Ben Amrany from FC Exchange follow this link or phone and ask for myself and quote "Cle France" on 020 7989 0000.

You may contact me directly using this form (click here) with your requirement and I will explain the options that are available to you in getting the best exchange rate.

FC Exchange

Blog submitted by: Ben Amrany for The French Property Network - Cle France.

For everything you need to know about French property visit www.clefrance.co.uk


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