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Click here for a brief history of Brexit and a timeline chart of recent events affecting the pound sterling and other global currencies.
Find out how our customers are protecting themselves against the volatility of the market.
We are pleased to announce that you can now use your debit card to send GBP (£) with UKForex.
Simply log in and book a transfer like you usually would – and a ‘pay by Debit card’ button will appear.
United States Dollar: The new home sales data from yesterday has generated confidence that the USD will be able to withstand future interest rate hikes. Couple this with the better than expected House Price Index and you can see that the data for the USD is fuelling the comments for a sooner than initially thought rate hike. Traders are now pricing the chance of a June hike at 38% and 45% for July. Today and tomorrow we have an abundance of USD data that if positive, and Yellens’ comments Hawkish, may send the markets in a frenzy up to close of play on Friday. A potential aspect of the outcome from a successful Brexit campaign was highlighted yesterday. According to S&P Global Ratings a vote to leave the EU may cause the EU to not be a reserve currency used in world trade. This has added additional fear to if the leave campaign wins as the implications of this would be hugely negative for the UK. Today sees the second release for Q1 of UK GDP data. The first release showed a slower than expected expansion of 0.5%. Today’s forecast is 0.4% and the downward revision is mostly from Brexit uncertainty.
We expect a range today in the GBP/USD rate of 1.4690 to ... read more
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