If you spent the night waiting for a decisive result in the presidential election it looks like you will continue to be disappointed for a while.
The currency markets clearly don’t know where to go this morning, but the dollar strengthened slightly when it emerged that Trump had done better than expected. Do take a look at our business unit’s assessment of what a win for either Trump or Biden could mean for your currencies.
One commodity that’s never been in shorter supply this morning is certainty, with Brexit talks and doubts as to whether the month lockdown will be sufficient to control Covid, all adding to the general air of stress and uncertainty.
Your currency transactions, however, are something that you can get complete control over. We talk about forward contracts a lot, but it’s maybe worth a reminder of what they do. It’s a way of securing your exchange rate for the year ahead. If, say, you plan on buying a property in Europe, the USA or anywhere else at any point over the next year, you can lock in today’s exchange rate for the year.
That way you can budget and plan your own bright and exciting future, without it being influenced by when and if postal ballots will be counted in Pennsylvania, by Brexit talks or the R-rate in Liverpool…
Do talk to your trader on 020 8108 5337 and discuss your plans and lock in today’s precariously positive rate.
May I also make a last call for Your Overseas Home, taking place for one day only on 14 November. Register for free tickets here.
