Andreas Polycarpou: "GBP - still one of the strongest currencies in the world."
This is a result of the start of the Parliament summer recess as well as the barren data calendar. Bloomberg reported that the pound currently trades at 1.118 against the Euro as of the time of writing this piece.
Andreas Polycarpou also commented, "It is quite hard to determine what is going to happen to the GBP now after Boris Johnson replaced Theresa May as the UK's prime minister. But I do believe that one of the major factors that will influence the strength or weakness of the Pound Sterling would be the decision whether the country will stay in the European Union or leave it. There is no doubt that Brexit will play a major role in the stability of the country's currency, both in the short-run and the long-run."
GBP- One of the global currencies with high purchasing power
Andreas Polycarpou, the revered finance expert, says "Regarding the GBP weakening trend, I do think there is a great chance that investments in this currency will indeed get hurt, especially after the poor results from the latest meetings between Mr. Johnson and several European countries leaders. With this being said, I would not completely throw off the idea of investing in it for the future today, simply because of the immense volatility that's related to the British Pound. After all, there is no doubt why it is still considered as one of the strongest currencies in the world".
Polycarpou continues "the weakening of the GBP might hurt its image in some way, but I don't see any realistic scenario where it can be excluded from the majors' category unless a forced Brexit-deal will completely wipe out its value."
Will GBP be as strong as before?
Every concerned person keeps asking this question about the GBP. And here is Andreas Polycarpou concluding the comment on the question- "Depending on the results of the crisis in this currency and taking under consideration that it will indeed experience one, I do see the Pound eventually returning to being strong as ever before, because from my own point of view, unless we do start to hear the words "no-deal Brexit" banded around with a serious tone, this currency still has further gains to make against the Euro, the USD, or any other currency it is being traded against".
Page Updated Last on: Sep 16, 2019