It’s been a month of short but sharp swings in the value of sterling. The difference between the lows and the highs for GBP/EUR has been around 2% over the past month and for GBP/USD over 4%.
The positive for most people with a major transaction coming up that involves buying euros and dollars, or for that matter yen or rupees, is that sterling has stayed relatively strong, despite this week’s small dip against the euro.
This was caused by the head of the European Central Bank, Christine Lagarde, saying at the ECB’s annual conference that interest rate rises will continue. Meanwhile, in the UK yesterday, a more ‘dovish’ member of the UK’s own interest rate-setting committee said that interest rate rises could soon stop, given the drop in producer price inflation and its likely effect on consumer inflation down the line.
Well, we’ve heard that one before… Of more interest to some readers will be the fact that the ECB’s summer meeting is being held in Sintra, near Portugal’s capital Lisbon, which may have led to pleasant thoughts about that wonderful, friendly, cultural city. It’s easy to get bogged down in the minutiae and gobbledygook of currency market analysis, when what most property buyers want is simply to know that their property purchase will be safe and at a fair and reasonable rate.
That is what we offer at Smart. So to lock in your rate for the year ahead, giving you more time to plan your move abroad while relaxing with a pastel de nata, do call your trader on 020 7898 0541.
Finally, for that viewing trip to Portugal (or anywhere else), we’ve upped the ante with our summer referral campaign. For every new individual or business you refer to Smart Currency, you will be entered into a prize draw to win a £250 flight voucher. Plus, you’ll get £50 credit when your individual referral trades with us and a £200 Amazon voucher for business referrals. Refer today to enter the prize draw.
