The weekend’s newspapers brought the usual competing political claims, each of which seems more or less astounding when you think about it. The Prime Minister might ignore the law, the Liberal Democrats would simply ignore the Referendum and just cancel Brexit and the Brexit secretary said we could extend the transition period to 2022.
The Labour Party has its conference in Brighton next week, following the TUC being there last week and the Lib Dems being just down the road in Bournemouth this week (have they all stopped going to seaside resorts in the North?). Some of us were down in Brighton this weekend, swimming in the just-about-warm water and attempting to windsurf in a very light and changeable wind. You could just about make progress but it was hard to know which direction the wind was going to blow you. Nice for beginners though.
Obviously, we found parallels with the pound. The British Parliament being suspended means that the waters have been a little less choppy in the past week, and the pound has had some wind behind it. The pound rose to its highest level since 6 June against the Euro and highest since 19 July against the US Dollar. But it is very difficult to know where it will go next.
What we do know is that we like to be beside the seaside in as warm a place as possible: you heard it from our politicians first! If you are aiming to buy abroad – the water was getting a little chilly even off Brighton in September – do call your trader today to lock in today’s exchange rate. These rates may not outlast the return of our politicians to Westminster in October.
You can speak to your trader on 020 7898 0541.
