With three weeks to go until the 160,000 members of the British Conservative Party choose our country’s Prime Minister, we can probably assume that a victory for Boris Johnson is “priced in”. In other words, the currency markets are already working on the assumption that he will win and are forward planning accordingly.
Anyone with plans to move abroad or buy a property abroad might consider doing the same, but bear in mind that most elections in the past five years have thrown up surprises. Hard to imagine now, but if you had trusted the currency markets, we would probably be in the last days of the David Cameron era, with George Osborne likely to take over next (if he could defeat the exciting challenger Theresa May), with President Hilary Clinton in the White House and Jeremy Corbyn in his allotment.
So don’t assume anything!
With the summer holidays fast approaching, millions of people will be making the usual mistake of leaving their currency to last and paying outrageous rates at the airport. It just takes a tiny bit of forethought to avoid that and save yourself a bundle.
The same goes for larger transactions, but exponentially more so. Whatever you are planning a transaction for, it takes just a couple of minutes to talk it through with your trader on 020 7898 0541. Please do give us a call!
