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Tomorrow, Prime Minister Theresa May is set to trigger Article 50
This is a major political event for the UK and the EU, and like many of the political events we have seen in the last 12 months, could cause volatility in currency markets.
The vote to Leave itself, last June, hit the pound hard, especially against the dollar. Sterling dropped less against the euro because the market believed it had negative implications for the EU.
Following Trump's election win, last November, we saw an impact on more than just the US dollar. The Mexican peso was hit hard and initial reaction investment move to safe havens yen, euro and gold.
In the same way that the Brexit vote caused market turbulence, there is potential for increased volatility once Article 50 has been triggered.
If you're making international payments in the near future, we recommend that you speak to a FairFX currency dealer to understand your options to minimise risk and maximise return.
Feel free to give us a call on 02077789313 to find out how FairFX can help you.