The pound’s up, down and then, thankfully for those buying euros, up again performance over the past week has shown on what a hair-trigger currencies are operating on.
Against both the euro and the US dollar sterling is where we were last Monday, if 1 or 2% down on Wednesday’s peak.
If you thought that the end of Brexit negotiations was going to allow matters to calm down again, however, you’ll have been disappointed. These are exceptionally nervy times, as a new Covid-19 variant could emerge at any time that pitches us back into an extended lockdown, and global investors take decisions on risk, moving in and out of bonds and equities in ways that baffle those who deal with less abstract concepts, like bricks and mortar.
In the meantime, the UK passed 20 million people having their first vaccination on Saturday and new infection rates hit the lowest rate since the end of September. Much of Europe still lags far behind, but even almost fully vaccinated countries like Israel continue to see high rates of serious illness.
As we enter another March with international travel essentially at a standstill, you might be surprised at how many large transactions are still going ahead. People are buying property via video-link, sometimes backed up with an on-site check over by a local surveyor, and as ever there is wealth being moved around the world.
Plenty of people are also setting themselves up for a purchase as soon as they can travel, locking in their exchange rate with a forward contract and making connections with estate agents and lawyers at events like Your Overseas Home.
If you’re ready to make plans this spring, our traders are waiting for your call on 020 8108 5337 and today’s rate looks extremely good compared to the past year or three.
