Has the Pound Recovered in Time for Christmas

Learn more about Christmas markets in France like the one pictured above in Strasbourg.

Back in the UK the pound was in buoyant fashion on Monday morning strengthening against many of the majors. Due to events over in Italy the pound spiked to over a four month high of 1.2041 but retracted over the course of the day back to a low of 1.1786. The pound has been on a slow gradual increase against the Euro over the last 5 weeks representing some attractive buying levels but I feel any further significant gains will be limited by Brexit fears.

Yesterday the Government started its appeal at the Supreme Court against a High Court ruling that Parliament must vote on the triggering of Article 50. Government lawyer James Eadie QC stated that the government could trigger Article 50 and that there was no basis for Parliament to get the final say. This spooked the markets and started the retraction for the pound. The uncertainty will last for the majority of this week while this unfolds so economic data will more than likely take a back seat in the pounds movements.

A drop for the pound by over two and a half cents is a worrying concern and those that were hoping events in Italy will help the pound remain above 1.20 have been left bitterly disappointed. Last time the pound reached 1.1950 a week later it was down by 5 cents back to 1.14 and we may see a similar movement while the Supreme Court ruling continues.

If you are buying a property in the near future and looking at your purchase either before or after the new year now may be a wise time to look at your conversion while the pound is still up over 9% from the lows witnessed in early October. This is a significant gain and still represents very attractive buying levels.

Thinking of exchanging currency? then contact Ben using this form (click here) with your requirement and he will explain the options that are available to you in getting the best exchange rate.

Current rates:

Tuesday 6th December at 10:20

£1.00 GBP = 1.1839 EURO

£1.00 GBP = 1.2753 USD

£1.00 GBP = 1.7131 AUD

£1.00 GBP = 1.7900 NZD

£1.00 GBP = 1.6910 CAD

£1.00 GBP = 17.3875 ZAR

Just imagine if YOU could forecast the exchange rate?

No one can do that of course but being well informed is a start and knowing the events coming up that may influence the GBP/EURO exchange rate may help you with your planning.

The latest quarterly currency market forecasts from the international money transfer experts, FC Exchange, are now available. The reports are essential reading for anyone buying or selling a property, in fact anyone making international money transfers.

The currency markets have always fluctuated, but this year has seen unprecedented levels of volatility. The currency forecasts review the factors that have contributed to the uncertainty we have seen this year and look ahead to the issues that could affect currency markets in the next quarter, moving into 2017.

Grab your Free Report here...

Do you want more information ?

So if you need to buy or sell sterling and would like to be kept up to date with all the latest data releases and exchange rate movements then feel free to contact myself Ben Amrany. If you are buying or selling a house in France we will make sure your monies are in the right place at the right time, we work hand in hand with you and Cle France.

For more information on the currency service I can provide please feel free to contact myself...

Ben Amrany from FC Exchange follow this link or phone and ask for myself and quote "Cle France" on 020 7989 0000.

You may contact me directly using this form (click here) with your requirement and I will explain the options that are available to you in getting the best exchange rate.