For many of us, today is when gawping at the news stops and we just get on with life for the next few months in the new reality.
At Smart we were very busy last week, especially on our corporate side, but with private clients too, helping them with wealth management. It’s certainly been a good time to transfer money back to sterling, but we also have clients keen to protect their pensions and other regular payments overseas from further weakening of the pound. You can do that with a forward contract.
Challenging times, but at Smart we are well set up and all running securely in accordance with FCA rules.
Do call your usual trader on your usual number (020 8108 5337) to discuss your currency needs, and how to protect your currency transactions from the steep rises and falls that we are seeing right now. Rest assured that the financial markets are working normally and securely.
At this time of everyone pulling together, if you know of anyone having trouble with their currency exposure, or just worried about getting their money transferred right now, please do encourage them to contact us. For private clients you can do that here, and for businesses that need protecting, you can do that here. We are here to help.
The pound may have had a jittery week, to put it mildly, but against the euro is still at the same level as last summer and for much of the past three years. The Chancellor of the Exchequer and Bank of England have certainly come out fighting, with strong support for business as well as interest rate cuts.
I never make predictions about future rate movements, but I will predict that we will come out the other side of this in a couple of months ready to start a new chapter in our lives with even more enthusiasm. What a great time to start planning that.
