Sterling recovered half a cent or so against the euro over the last two days and a little more against the US dollar, but the pressures on the pound are such that even this insipid recovery looks distinctly shaky.
Our currency forecasts – still available and free to download – showed real pessimism on the whole about the immediate fate of sterling, with some analysts predicting we would be at below parity against the euro by now. Although this failed to materialise in early May, the anticipated fall could simply have been delayed. Especially with a no-deal Brexit very much back on the horizon.
We’re certainly not pessimists at Smart, but we’re not Pollyannas either. We believe you should ignore forecasts and focus on your own plans, which I guess makes us realists.
At which point the world suddenly might look a bit brighter. Looking at the Covid graphs it is clear that the virus is being defeated. All of the countries we usually deal with are seeing a sustained and significant drop in infection rates, many virtually to nothing. With the usual caveats about second spikes, how is that not a reason to be optimistic?
Just as we probably couldn’t have imagined at the end of February the country being almost shut down for so long, it’s hard to imagine it all being opened up again. But the talk is already now of “air bridges” and how a socially isolated summer season will work.
If you wish to be ready to take your life to the next stage this summer, why not speak to us about your currency on 020 8108 5337? You can lock in today’s slightly elevated rate before the next round of Brexit talks begin with a forward contract.
For some of our readers, the next phase in their life will be a return to the UK. Our traders can help you with that too.
With best wishes
