The pound starts the week where it began last week and only traded within very narrow bands over the past seven days. This is not what was expected in such a crucial period both for the Covid second-wave restrictions and Brexit trade talks.
Prime Minister Boris Johnson had said he would walk away from trade talks if a deal wasn’t ready by 15 October, last Thursday, yet a trade deal wasn’t ready by then and he didn’t walk away. That might have prompted a surge in support for the pound; but didn’t.
Similarly, the Covid second wave might have led to national lockdown, but didn’t.
So we are still at a tipping point and no one can say for certain which way, if any, sterling will go.
Just because the talks haven’t broken down yet, there is little of substance to suggest that a positive outcome is any more likely than it was last week.
Amidst so much uncertainty on the currency markets as well as politically and on the health crisis, a call to your trader on 020 8108 5337 can give you total peace of mind.
Lock in your rate today – which is at a higher level than most analysts had predicted for today – and you can continue with your own plans with a secured budget.
While on the subject of peace of mind, one factor that some of our clients have missed is that the planes are still flying to most of our European partners, and most either have no quarantine from the UK or testing at the airport with rapid results and, therefore, only a day or two of quarantine if you test negative.
Hence it is still possible to get residency in time for the end of the Brexit transition period in 11 weeks time, if you make your move now.
Speak to our partners at Property Guides about that. You can reach them at PropertyGuides.com (although you don’t need to buy a property, you can rent while you sort out all the paperwork).
