The pound has reached the middle of the week largely unchanged against both EUR and USD.
As we continue to wait for deal or no deal, GBP/EUR is perfectly poised midway between the highs and lows of the pandemic period.
Although sterling is trading around its highest rate since the summer and will almost certainly sink if there is no Brexit trade deal, looking at the long-term trends there is just as much reason for those who are transferring euros to pounds to confidently lock their rate in with a forward contract.
Coinciding with the rush to move or buy abroad before the transition period runs out, which you might still do, we have seen a steady stream of British people returning to the UK too.
We offer a free Returning to the UK guide, which you can download here, with tips and advice for those coming “home”, including how to reconnect with pension, tax and health services, find a home and even get your bus pass.
One English lady who recently returned to Wiltshire after a wonderful decade in France was telling me about the relief of locking in her rate with a forward contract while waiting for the sale of her French home to go through: “We used a forward because I couldn’t cope with the stress of looking at the exchange rate every day for months, thinking: oh my God it’s gone up. Oh my God it’s gone down! With a forward contract I knew what I was going to get and it was enough for the property I was buying in the UK. I couldn’t risk losing it.”
If you don’t wish to risk your future to fluctuating exchange rates in these turbulent times, you can lock in your rate for the year ahead too, for peace of mind. Call your trader on 020 8108 5337 to do that.
