Another Monday morning brings another new high for sterling as soon as the markets opened this morning.
The pound leapt by more than 0.25% against both EUR and USD, to another highest level since May last year and May 2018 respectively.
It comes as a result both of the incredible vaccination rate on Saturday, of almost 600,000 – did we even know we had that capacity? – plus a couple of disappointing data releases early this morning from the EU. For example, German retail sales, which were well below expectations.
We do find ourselves in a strange position. The vaccine is being rolled out at the equivalent of the population of Glasgow, in one day, yet not only is nothing changing on the ground, but even when people have the vaccine and are 80%-plus protected, they’re still not allowed to go out, even if they wanted to.
Let’s hope the world feels like a very different place in 6 weeks, by which time nearly half of the population will be protected, the evenings will be lighter and the weather might have brightened up.
At Smart we are sponsoring a new Your Overseas Home on Saturday 13 March. It’s a “virtual event” of course, but many visitors told us they find them even better than going to a real live event.
An estate agent can show you around properties, including video walk-throughs, and will answer your questions on both properties and the buying process. There will be property and emigration lawyers talking you through the post-Brexit procedures, our traders explaining your payment options, plus removals, mortgage and other advisors. Plus, the virtual version is actually quite a lot of fun. You can get your free tickets here.
On the currency front, I do have to reiterate that the indicators are that the pound is unlikely to stay this high. As our brand new currency forecasts show, most major banks predict a fall by the beginning of April at the latest, so do talk to your trader today on 020 8108 5337 about locking in the today’s new high.
