Sterling was largely unmoved and has been labelled as untradeable in recent weeks as investors avoid the currency for fear of being wrong-footed by sudden changes in sentiment.

A positive outcome for sterling would be the passing of the Brexit Bill in the House of Commons. There is still a belief that the EU will offer some concession over the troubled backstop arrangements and help keep rebellious Conservative MP’s onside. This ‘concession’ may be before the vote or after, there are also many conflicting reports saying any possible concession is not possible.

The negative outcomes are numerous and include a no confidence motion in the Government, a Second Referendum and a General Election. Such possibilities would surely see the pound lower. Other alternatives include the vote to be postponed for further amendment, the 29^th March Brexit date to be postponed and a no-deal Brexit to be pursued.

With all manner of outcomes possible, clients with a position to buy or sell the pound should be making plans sooner than later, to ensure they do not miss out from any sudden changes in this unpredictable market.

Exchange rates on this page are interbank rates and indicate where the market is trading to show the performance of a currency pair. They are not indicative of the rates which we offer. The information on this web site is provided free of charge for information purposes only. It does not constitute advice to any person on any matter. Foreign Currency Direct plc. ("FCD") makes every reasonable effort to ensure that this information is accurate and complete but assumes no responsibility for and gives no warranty with regard to the same.