Brexit is now a reality, and sterling markets have had the weekend to reflect upon the new world we find ourselves in. With the implications of Thursday’s historic vote still sinking in, and a timeline for the withdrawal of the UK from the European Union still to be drawn up, sterling faces an uncertain future in the short-term.
A quiet week lies ahead for economic data releases from the UK. Thursday sees the release of the latest current account balance, whilst Friday brings the first of this month’s purchasing managers’ index (PMI) data from the manufacturing industry. Fallout from the referendum will however continue to dominate market movements throughout the week, and we can expect to see further reaction from leading political and economic figures.
If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.