Greetings one and all,
For those of you in the office this week I thought I would write a short report. I imagine it will be a mixture of finishing some final projects prior to Christmas and eating mince pies and chocolates at your desk whilst doing some last minute on-line shopping.
If you have any last minute transactions to do please contact myself or one of the trading team. They will be on hand to assist and close out any end of year exposure you have.
We’ve had a Christmas comeback on the often subdued currency pair. I expect us to push higher over the coming weeks and beginning of Q1. If you are going to be in and out of the office/checking emails then place an order in the market at an appropriate level. If we hit the rate you are looking for it is automatically executed for you. Please send me an email and we can discuss levels to aim for.
Yep, it has come off as I expected. If you are a US Dollar buyer then please do consider prior to finishing up work to lock in some USD. I expect this to come off further and with USD strength seemingly looking like it will continue into Q1 don’t be too surprised if we fall below 1.55.
My forecast for this pair is 1.15 in 2015. It will, in my opinion, not be too long before this is under 1.20 the figure. This will impact both GBP/USD and GBP/EUR significantly so please have a strategy in place to mitigate your currency risk. You are probably bored of hearing the phrase from me “doing nothing is speculating”.
I am sure you have been thoroughly entertained by my musings on the currency markets this year and glad to say, for the most part, we have been fairly accurate with our forecasts. I wish you a Merry Christmas and hope you have a fabulous time with family and friends.
Enjoy and I look forward to hearing from you.
Written by Liam Alexander