Hardly a day seemed to go by without fresh political or economic uncertainty in 2017. Naturally, all of these events had a bearing on the currency markets and we saw some huge volatility in the value of the pound against the euro and the dollar. For anyone needing to send a large amount of money overseas, it’s crucial to manage this currency risk. It’s especially necessary during these times of political and economic uncertainty. This quarterly Currency Forecast provides an overview of the key events that could affect the euro, dollar and sterling exchange rates over the next three months, as we enter the spring property buying season. It also explains how to protect your purchases overseas against this risk.
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The forecast distils the experience and wisdom of the major banking institutions, including Barclays, Morgan Stanley and Danske Bank. As you will see, the difference between the highest and lowest estimates of these soothsayers means that a property that you budget at costing £100,000 in Europe could swing by as much as €23,910, or a £100,000 property in the USA by as much as $33,000. This is why we strongly suggest you adopt a safety first approach and talk to us about protecting your budget.
Smart has specialised in helping people buy property abroad, and other mayor purchases, for over a decade and we have an “Excellent” rating on Trustpilot. We help each client to mitigate the risk of currency volatility and protect their buying budget. We will listen to your requirements, analyse the potential market changes that could pose a risk to your plans, and create a bespoke solution to your specific circumstances. We are also passionate about working with our clients to help them understand just how important currency risk management can be in these uncertain times, and regularly provide news, insights and guides.