I’m no economist, but isn’t this just a case of: crashing economy + accelerating debt + hung parliament = bad times for sterling? Still, we love a PR that sends us an eloquent statement of the obvious.
Run for cover! Sterling is a ticking time bomb, says Simon Brown, CEO at ProSpreads: “With the election looming it’s all eyes on sterling. As always at this time of the election cycle much of the attention amongst global FX players is towards sterling. And by ‘attention’ I don’t mean necessarily buying interest, especially with the prospect of a hung parliament. Recent polls suggest that the battling election parties are failing to gain a sufficient majority over each other and therefore a hung parliament is a strong contender when the nation goes to vote in what is most likely to be early May. This is a time bomb that could definitely produce catastrophic circumstances for sterling.” Thanks.
With sterling in such a bad way, even computer games could be affected. Anthony Hogarth from computer games wholesaler Creative Distribution says: “Keeping a close eye on the foreign exchange market has always been important part of our business.”
But help is at hand. “We have been working closely with foreign exchange broker, Currency UK, to ensure we manage our currency requirements on a daily basis. We use a variety of techniques to overcome currency issues…”
Adrian Jacob from Currency UK added: “In terms of how companies survive this period of uncertainty, it is essential that UK businesses look at the options available to them when moving funds across currency zones. I would advise that they contact a reputable foreign exchange company, as unlike the majority of the high [street] banks, they will be able to offer the most competitive rate on foreign exchange transfers.”
Someone like Currency UK perhaps? Which gets its ‘most competitive’ rates from where exactly?
