The CBI yesterday announced that retail sales in January fell at their fastest annual rate, I think this coming so soon after the UK scraped it's way out of recession paints a pretty bleak short to mid term future for Sterling.
The fall can be partly attributed to both the rise in VAT as well as the big freeze the country suffered during the month which both affect peoples willingness and opportunity to spend.
This adds further fuel to the fire that the UK could be heading for a W-shaped or double dip recession - a situation where the economy could fall again, further, than it did a year ago - and who knows where exchange rates could fall to ....... below parity against the Euro? 1.20's against the Greenback? Not good!!
There is no reason why people shouldnt at least be considering the benefits of buying currency, or at least securing exchange rates using a forward contract at these recent highs.
To talk through your specific circumstances or to see what contract types we have available that suit you requirements email me at sah@currencies.co.uk or call me free on 01494 787457
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment