Select Page

Blog

Managing Finances Post Brexit

It has been widely documented that the Pound has slumped following the shock referendum result. The Pound is now sub-1.20 against the Euro, and reached the lowest levels since the early 1980’s against the US Dollar. So what will happen within the coming weeks and months?

Volatility within the financial markets is still high following the referendum. The future for the UK is extremely uncertain, and as a result the pound is struggling to regain any of the strength that it lost. However, we are now starting to see the first green shoots of recovery. The reshuffle within the UK government is nearly complete, and this slight sense of normality helped the pound push higher. As the dust settles following the referendum it is likely the currency will strengthen as conditions with the UK stabilise. However, rates are still significantly lower than they were before.

For those hoping that the Pound recovers, there is at least some optimism on the horizon. The European Central Bank have made no secret of the fact that they would prefer the Euro to be weaker. A weak Euro promotes international trade, and with European economies struggling, it needs every help that it can get. Likewise, the US Dollar is currently extremely strong, and the US Federal Reserve are now unlikely to increase interest rates until much later in the year, if at all. This could weaken the US Dollar and push rates higher. Then there is the little matter of a US Presidential Election. This brings its own uncertainty, and the possibility of Trump as President is already worrying US investors.

With such major events coming throughout the remainder of 2016, the currency markets are likely to remain highly volatile for a while longer. Regardless of the movement, there are ways of protecting yourself against adverse currency movements, and also benefiting from the market movements.

To speak to a currency specialist please free to contact Alex from Argentex LLP.

Not only will they give you exchange rates that are up to 5% better than normal banks, but also, they won’t charge any transfer fee. They can help you whether you need to make small regular payments or one off bigger payment.

You should think of using this service when paying international school fees, sending regular allowances to your children at university abroad, buying or renting a property overseas or even making foreign investments.

Just ring or email Alex for a free quote, she will help you solve your transfer problems and save you money!

Email- Alexandra.Allen@ag-fx.com  Phone- 0203 7720318

July 27, 2016

Blog General Home News

[ssba-buttons]