The pound starts the week just under 1% lower against the US dollar than this time last week but slightly higher against the euro, further boosted by poorer than expected German industrial data this morning.
Overall, however, the principal reasons for movements in currencies at the moment appear to be arising from the US stimulus of its economy, the potential effect of that on inflation, the effect of that on interest rates, and the effect that all this is having on the US bond markets and equities. That all feeds into EUR and GBP.
Your trader will be able to explain it all if you would like to call him or her on 020 8108 5337.
You almost yearn for the days when it was all about something simple like the Northern Irish backstop (although the knock-on from that problem is still lurking too).
In the UK, schools are going back this week after two extra months at home, as the world starts getting back to normal.
We’ve heard that travel to Cyprus can potentially restart from 1st May, just seven weeks away. No doubt other holiday hotspots will follow soon after if cases continue to fall at the incredible 25-35% per week that we’ve been seeing recently.
If you are restarting your plans to buy abroad, do call your trader and see about getting an exchange rate locked in.
Or at least get a quote. After all, if you don’t know how many euros or dollars you’ll get for your sterling you can’t set a budget, which makes it very difficult to start a conversation with an estate agent.
Speaking of estate agents, the door closes on e-tickets for Your Overseas Home on Wednesday, so if you’re thinking about buying in and/or moving to Spain, France, Portugal, Italy, USA or Cyprus this year, do get your free pass here.
I’ll be there, talking about currency, so please join me for webinars and all the essential information you need. See you there perhaps.
