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In Conversation: Sterling starts to stabilise, businesses need to prepare for the new normal

By HiFX   /     Aug 08, 2016  /     Europe  /     , , , , , , , ,

Welcome to In Conversation, foreign exchange insights and discussions from HiFX to support businesses that send or receive international payments.

 

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.

 

The Economists

CChris-Towner-100pxhris Towner
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.

LinkedIn profile

 

Andy-Scott-100pxAndy Scott 
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.

LinkedIn profile

 

What’s on your mind?

If you have any thoughts or questions on anything we’ve discussed today, please share them in the comments section below. Or if you’d like to discuss your situation in more detail, please call our Corporate Team on +44 (0) 1753 623 555.

You can view all our Brexit resources here.

 

This communication is provided for corporate entities only. The details expressed in this transmission and accompanying documents are for information purposes only and are not intended as a solicitation for funds or a recommendation to trade. HiFX Europe Limited accepts no liability whatsoever for any loss or damages suffered through any act or omission taken as a result of reading or interpreting any of the above information. HiFX Europe Limited is authorised by the Financial Conduct Authority under the Payment Services Regulations 2009, registration 462444, for the provision of payment services. HiFX Europe Limited is a registered MSB with HM Revenue & Customs – Reg No: 12131222. HiFX is a limited company registered in England and Wales. Registered number: 3517451. Registered office: Maxis 1, Western Road, Bracknell, RG12 1RT

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