The Pound is entering the new month in a much stronger position than it entered November, after the currency gained an impressive 4.5% against the Euro through last month as well as performing well against a number of other major currencies.
Yesterday afternoon the Pound spiked upward against the Euro, as did the US Dollar, after both UK GILT (bonds issued by the UK government) and US government issued bond yields both increased in anticipating of further quantitative easing from the European Central Bank (ECB) and also expectations of an aggressive fiscal plan by the US President elect Donald Trump.
Whilst complicated the result for Sterling strength across the board.
People planning on converting Pounds into another major currency such as the US Dollar, the Euro or the Australian Dollar for example have been presented with a much more attractive opportunity than this time last month, due to the Pounds unexpected gains off the back of the unexpected election of Trump.
Personally, I think the Pound may gain further on the Euro as we enter December and the Italian Referendum this weekend may be the catalyst. If the Italian Prime Minister (Matteo Renzi) is unsuccessful in his plan to change the Italian constitution in order to reform the banking system in Italy, I think we could see further Euro weakness as soon as next week. Feel free to get in touch if you wish to be kept updated on this topic.
Those in the process of buying property abroad or moving large amounts of money internationally have the chance to save thousands if we compare the Pounds value now compared with just a month ago, and with the help of a specialist currency exchange brokerage like ourselves we can help clients get even more for their money as our rates can improve on the banks offerings by between 1-4%.
If you are planning to make a currency exchange involving the Pound and another foreign currency, it’s well be worth your time getting in contact with me on email@example.com in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible.
You can also call in to speak with me over the phone on 01494 787 478, just ask receptive for Joe if I don’s answer myself.