Savvy Investors Take Advantage of Slide in Sterling
Commenting on the slide of sterling against the euro, Barbara Ann-King, head of proposition, Barclays Stockbrokers, said: “With sterling falling to its lowest-ever level against the euro, Barclays Stockbrokers have seen a shift in client sentiment for trading this currency pair. In December so far, over 14% per cent of all trades on our Spot FX trading platform, have been in EUR/GBP, compared to only 3% in November, and five% in 2008 so far. This shows clients have looked to profit from the continued run on the pound and sell during the current weak economic climate in the UK.
“GBP/USD (cable) and EUR/USD normally dominate the trading activity of our clients but the unprecedented conditions affecting sterling has allowed our clients to speculate from these falls and profit from the relative strength of the euro versus sterling.”