We could be in for a busy day at Smart, with the new inflation figures coming out this morning ahead of expectations at 3.2% year on year. That makes it even more likely that interest rates will rise early and that in turn is highly likely to support the pound.
Well, we’ll see. Analysts will be looking at the details of the inflation figures to see if it’s a temporary blip or more worrying. The rise in prices was widely expected so it may already be priced in to the value of sterling.
All the same, do be prepared to call your trader on 020 8003 4915 and lock in your rate if it shoots up and you have a trade coming up in the year ahead. It could be a great opportunity.
In the meantime, the pound lost around 0.5% from its highest point yesterday, but remains well supported, still almost 10% higher than this time last year.
Autumn reached the UK yesterday not just with rain but also with new rumours of potential lockdowns.
It can be a grim few months as the days shorten, with only the dubious pleasures of Halloween and Bonfire Night, Christmas shopping and frosts. (Actually now I write that it sounds quite nice…)
There is also the skiing season to look forward to (get your early bird tickets for The Luxury Ski Show here) and the chance for a late trip abroad to buy a property.
In Portugal you only have until the end of the year to get a golden visa in the Algarve and biggest cities, and more generally this still seems like a great time to buy abroad, ahead of the big return to European travel next spring.
