If you’re someone who peers avidly at the currency charts – and if you’re about to make a major transaction abroad let’s just assume you are – then the last week will have been a particular horror show. The pound fell by around 3% against the euro, just when many people hoped it would be climbing back to its pre-Referendum levels. (Although, quite the relief to those buying in the UK from abroad, who may have worried that they’d missed the boat on a weakened pound).
It just goes to show that you can never assume anything about currencies. The immediate cause of the pound’s fall was Boris Johnson signing into law that the trade deal had to be signed by the end of next year. But as several commentators have pointed out, it can just as easily be signed out of law. And it is pretty clear by now that nobody in the government wants no deal.
There are plenty more potential hiccups like this over the next year and, a familiar mantra but true nonetheless, today’s rate is still way above the average for the past three years.
Our traders are ready to take your call on every day apart from the bank holidays and weekend days. So if you suddenly make the decision to buy abroad over Christmas and the New Year, we’ll be here on the 27th, 30th and 31st to take your call and get your currency sorted out for the whole of 2020. Won’t it be a relief to be looking for wonderful overseas property online rather than the currency charts?
Call your trader on 020 8108 5337.
Happy Christmas from all of us at Smart
