The pound took a fresh half-cent tumble yesterday, with economic news doing the damage for a change. Poor retail sales data reinforced the point made by Bank of England governor Mark Carney that an interest rate cut may be on the way.
It won’t be long before we get the first newspaper stories of airport currency exchanges showing the GBP/EUR rate at parity or worse – just as we’ve seen for the past couple of years.
More happily, at Smart we’re attending a celebration for our favourite charity tomorrow evening to give out some awards. Solidarity Sports, based near us in West London, helps disadvantaged children and those who have experienced trauma by taking them out for exciting, sporty or creative days out. It’s a really inspiring charity, one which many of our staff love to volunteer with.
Although the immediate reward is happy kids having a day out, the even bigger reward is much longer term: the traumatised or deprived child who won’t have their long-term life chances stunted. You can read more about Solidarity Sports here, and maybe even send a donation!
We tend to think that the rewards of moving or buying a home abroad should be viewed longer-term too. It would be a shame, to put it mildly, to put long-held plans and dreams on hold due to a smallish fall in the value of your currency. And even that you can mitigate with a forward contract.
Please talk through your plans with your trader today on 020 7898 0541.
