Sterling finally breached the €1.15 level this morning, following a strong set of data releases on inflation (the CPI advanced to 0.7% year on year, ahead of expectations).
GBP/EUR is still some way off the level it reached surrounding the 2019 election, but looking at the graph across the whole post-referendum period we are above average.
Against the US dollar sterling had its wings clipped a little yesterday but remains around 2% above where it was a month ago.
Could that be the start of a slide? Although there is great support for the UK’s vaccine strategy within the UK, President Macron is not alone in voicing criticism of the “risky” strategy of delaying the second dose.
So not only will the UK’s supposed jump on other countries in being able to open its economy early eventually become “priced in”, but it could potentially go wrong too.
We only suggest these as possibilities, as we always recommend taking a cautious approach to your overseas property budget. Please do call your trader on 020 8108 5337 to discuss your plans.
With the vaccine now reaching 25% of the population, and the potential for all adults to receive both vaccine shots by the end of August, President Macron may be surprised to see the usual numbers of British tourists after all this summer!
If you have the hope of buying abroad in 2021, do please come and meet us – virtually – at Your Overseas Home. I guarantee you won’t be disappointed.
