The British Government has officially abandoned its No Deal planning and the No Deal planning minister has resigned (yes, there was one) saying that he was no longer needed.
So you might think that the pound would have strengthened against the euro last week. After all, one of the biggest worries after the Withdrawal Agreement was first rejected in December was a collapse in sterling. You may recall that the former Brexit Secretary David Davis had said that a fall of 20% in the value of the pound was no problem.
Why did it fall then (admittedly only a cent or so against the euro) when we tacitly agreed that No Deal won’t happen? It was really nothing much to do with the pound; indeed the pound strengthened against the US dollar. But the euro strengthened in general as fears of an EU/US trade war receded and the pound fell in comparison with that.
It’s all a reminder that even when Brexit is settled, the pound will never be still.
For home buyers and retirees abroad, however, not having to worry about the consequences of No Deal (even if they were never as bad as many feared) should put a spring in everyone’s step. We expect to be very busy in the months ahead as all that pent up demand for homes and healthy retirements abroad begins to move ahead. Already we hear that bookings for holidays abroad this spring and summer are up. Let’s go!
Please do check out propertyguides.com for the most up-to-date information on buying abroad, and speak to your trader on 020 7898 0541 to lock in your exchange rate ahead of a viewing trip.
