After the volatility in Sterling following the UK’s decision to leave the EU, it seems that the markets are starting to stabilise. The new government is now in place, while the Bank of England has offered a consistent voice throughout the changes. We’ve seen some monetary stimulus announced by the Bank of England last week and there is scope for the government to offer further support for the UK economy in the Autumn Budget.
While there is still plenty of uncertainty, Sterling is starting to trade comfortably at these lower levels. It is likely that the focus will now start to shift elsewhere, particularly to the US elections, while the markets wait for more long term data in how the UK economy reacts to Brexit.
Join the HiFX Economists as they look at what’s happened so far and what this could mean for businesses as we all adjust to the new normal:
Watch the video to find out:
- How the Bank of England has supported the UK economy.
- What fiscal stimulus measures the government could take.
- What this could mean for businesses with exposure to foreign currencies.
In the coming weeks, we expect that attention will start to shift across the Atlantic, where the countdown begins for the next US Presidential Election. We’ll be closely watching how the campaigns progress and what this could mean for the US Dollar and the Pound.
Chris joined HiFX Financial Services (which in 2012 became HiFM) in 2003 helping corporate clients manage their FX risk. He has headed up the advisory business since 2006 and is now the managing director. Prior to this Chris traded Sterling for Barclays Capital.
Andy has been with the HiFX Group for the past 10 years providing guidance on currency risks to clients. With a wealth of knowledge and a real passion for the currency markets he joined HiFM in 2013 as an Associate Director advising clients on how best to manage their currency risk.
What’s on your mind?
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You can view all our Brexit resources here.
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