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March 29th - Best Day to Buy Sterling

  • 11-02-2019 12:44pm
    #1
    Posts: 0


    The day the U.K are leaving the EU, would it be a good idea to buy sterling?


Comments

  • Moderators, Recreation & Hobbies Moderators, Sports Moderators Posts: 15,790 Mod ✭✭✭✭Tabnabs


    tajd wrote: »
    The day the U.K are leaving the EU, would it be a good idea to buy sterling on the day as I’m guessing the pound is plummet?

    Probably the best reason to stay away from forex trading.


  • Registered Users, Registered Users 2 Posts: 3,739 ✭✭✭scamalert


    volatility will be crazy, if using forex expect 500 pip moves easily will kill any margin you use and prob margin calls all over the place to bounce anyone from buy or sell positions.


    GBP is back to its almost usual rate in last 5 years, but even if its bad deal expect to get burned.


    Now if your question is about buying actual pound would be worth to wait few weeks after it stabilizes, post brexit.

    That said think this topic is better suited in investments and markets forum.


    As current rate is crap, anything past 0.95c is worth buying if you shop from UK, if it goes that way.


  • Registered Users, Registered Users 2 Posts: 25,624 ✭✭✭✭coylemj


    In most cases, the markets have already factored in perceived risks. It's more likely that the UK will delay leaving out of a morbid fear of the consequences of a hard Brexit. In which case sterling will probably get a small bounce.


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