Fluctuating foreign exchange By Alison Daun It’s been a turbulent few months in the foreign exchange market and it’s likely to continue as we begin to understand the effects of the UK's negotiations to leave the EU. Today as I write we have seen a positive rise in the value of Sterling as Teresa May spends her first full day in office as UK Prime Minister. The markets view her as a steady hand to guide the UK through the Brexit negotiations and the pound has rallied a little as a result.
should hold fire until then. The MPC still won’t have enough information in August to make a proper assessment of the postBrexit economic situation."
The Bank of England Monetary Policy Committee (MPC) have today voted to leave borrowing costs at 0.5%. Expectations were for a cut to 0.25%. This wait and see attitude appears to be highly appropriate, with investors reacting positively to the news. Many factors are unknown in the UK's immediate future and as yet there is not enough economic statistics available to build a complete picture of the effect Brexit is having on the UK. It would appear too soon for the Bank of England to jump in with any major policy changes. Following on from today's vote Andrew Sentance, a former member of the MPC, said:
If you rely on income from the UK or are considering buying or selling a property here how can you protect yourself during this time?
"Though political events have been fast-moving, there is a need for stable economic policy until we are clearer how the economy is performing in the wake of the EU Referendum result. That will not be clear until the autumn, and the MPC
Fluctuating rates of exchange are likely to be a key factor in the coming months as we see the UK's initial steps towards leaving the EU, the release of figures showing if there is any impact on the UK economy and the MPCs subsequent moves.
Establish what you want (and stick to it) – Decide on the exchange rate that you are happy with and when the market moves in your favour move quickly and purchase your currency. Don’t wait, the markets are extremely volatile and change every second! What you can get now may not be what you can get in an hour. And remember just because the rate is going up today does NOT mean it will continue to gain tomorrow. Act quickly to secure the rate once you can achieve your preferred rate. If you transfer your pension or mortgage payments to Portugal you will notice a dip in your income due to the low exchange rate. Why not consider bulk buying for a few
Hot property at Boavista Boavista Resort is a serendipitous find on the Algarve’s western shores, boasting an award winning 18-hole championship golf course, an excellent spa with fitness facilities, a family games centre and a well reputed à la carte restaurant – all of which are open to the public but are also at the heart of the residential village which has been fastidiously developed over the last fifteen years.
Buying or selling a property in Portugal? If you need to buy Euros for your property purchase or are selling a property and need to transfer your Euros the UK, consider buying your funds on a forward contract. This helps you fix the rate in advance with only a deposit and the balance payable at a later date. This gives you the flexibility to purchase your needed funds, fix the rate and pay for it as and when you need it – you know exactly how much you are receiving even if the rate moves – Be safe and secure your rate. Be realistic – When we talk about volatility in the exchange rate in the next few months – we are talking about a few cents. We are not talking about a sudden improvement to 1.40 or a sudden fall to parity, be realistic and aim for an achievable exchange rate. To make sure you are getting the best out of your currency talk to a currency specialist, contact GCEN on: 289093137 email@example.com.
By Tom Henshaw
the entrance to the resort, to meet her colleagues Ann Laws and Fernanda Gomes and to learn about the company’s exciting plans for a new release of prestigious homes entitled ‘Properties of Distinction’.
The development of prestigious, well designed, eco-friendly properties has attracted buyers from all corners of the world. The brain-child of Peter Emerson Jones, a long established and well-renowned developer in the United Kingdom, the resort has been meticulously planned to harmonise and complement the natural beauty of its prominent location. Sophie Sadler invited me to visit the newly refurbished sales office located at
months at a fixed rate? This will stop you being affected by the fluctuations in the rate as you will know exactly how many Euros you will receive every month no matter what is happening to the exchange rate.
Properties from this range are selling well with seven of the eight 3-bedroom semidetached fairway villas already sold. The different property designs have been named after some of the birds that are seen around the resort. As well as semi-detached Sandpiper Villas and the Goldfinch Link Villas, this new property range is being developed to fill a gap in the market for detached 4 bedroom villas at around the half million price level, with an option for a private pool and interest is already high. To facilitate greater market awareness, both locally and internationally, a new computer software system has been installed in the
sales office, allowing better communication with clients visiting the office or from the other side of the world. To complement Boavista’s bespoke resort website, a new site has been developed to solely target those seeking golf properties in the Algarve. The sales team invite you to browse by visiting: www.algarvegolfproperty.pt On a personal note I can honestly say that the finish, style and location are outstanding and the fact that the EMERSON group have an enviable reputation and were established in 1959 in the UK with assets of over $1 billion. For further information please contact: 00 351 282 000 170 firstname.lastname@example.org
Published on Jul 25, 2016