Theresa May to Trigger Article 50 on 15th March

After all this time... Yes, you read that title correctly, it is finally going to happen!

If you haven't heard the latest from the House of Lords, Theresa May's government was defeated after the House stated that Ministers should guarantee EU national's the right to stay in the UK after Brexit.

The good news is the House of Lords has now passed an amendment that will guarantee rights of EU citizens, the bad news is that this amendment can be removed by the time it reaches the House of Commons, so unfortunately, this could all be for nothing.

Even with everything that is happening from all angles, the British Prime Minister, Theresa May is still confident that she will be able to push through legislation to allow her to trigger 'Article 50' on the 15th March.

So now I bet you are thinking...

"What will happen to the Pound once Article 50 has been triggered?"

If you weren't thinking this then okay but at the moment this really is the 'Million Dollar' (sorry... Pound) question!

Analysts from all major banks across the world have thrown in their predictions, and the general consensus seems to be that the Pound will continue to weaken even after Article 50 has been triggered.

Danske Bank is expecting the GBP/USD exchange rate to be at 1.19 by the end of March, Deutsche Bank is expecting the Pound to fall to 1.14, and others believe we will see the rate at 1.05.

There is of course the counter argument that the Pound will bounce after Article 50 has been triggered as this will give investors certainty in the situation of the UK & Europe. This viewpoint is credible but the main issue is that Triggering 'Article 50' will start at least 2 years of negotiations, so whatever way you look at it surely that means even more uncertainty to the situation.

Remember, unless you have a crystal ball, if you are trying to predict what happens on March 15th, you are trying to predict how both human and robotic algorithmic traders will react to the news, which if history tells us anything that is tough to do.

In the USA the Fed is expected to do an interest rate hike this month as well, it is the possibility of this happening which has strengthened the Dollar and caused the GBP/USD exchange rate to fall by around 2.5% this week. It is also difficult to consider what 'the Trump effect' will influence next.

In Conclusion

At Cle France we know how to get the best property for you at the best price so if you are likely to be trading currency with the Pound over the next month or so, I would suggest you register for an FC Exchange account (If you haven't already).

FC Exchange have access to many financial tools such as forward contracts (learn more about them here), limit orders and stop losses to ensure that you are mitigated from dramatic fluctuations.

For more information on the currency service or if you have any questions or would like further analysis leading up to the 15th March then please feel free to contact Ben at FC Exchange...

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

Guidance on Sending Money Internationally

Frequently Asked Question:

Hi Cle France, we are already registered with a currency exchange firm and we do seem to get a few other FX companies phoning us saying they are the best? they cannot all be the best surely? as we have viewed with many agents and visited many websites do you have any advice or guidance on which one we should use as our date for paying the 10% deposit looms, exciting times!

Regards, Chris.

'Cle France' Answer:

Of course you must use whoever you see fit, but I explain quickly why we recommend Ben Amrany of FC Exchange.

He handles the transfers for virtually all of our clients, and the reason for that is so that we keep everything in house: Ben, myself, the Notaires and the Agents in France all work together, so we know at any point in time where the money is, which can relief the stress for our clients.

For instance if a Notaire says the money hasn't arrived, I can pick the phone up to Ben, get the tracking details and speak to the Notaire directly to tell him to look again, and how to identify the transfer. But where we have another currency company involved I can't work for the client in the same way, and we have to depend on the client to resolve the problem, which can be very stressful, especially when the currency trader tells the client "the money has been sent", and the Notaire says "he hasn't received it"!

Sadly this has happened a fair bit when other currency companies have done the transfer.

So the benefit of using Ben Amrany and FC Exchange is that... Yes, he will beat other companies' rates as he has a Best Rate Guarantee, but also that he pays careful attention to our clients so things quite literally never go wrong, and funds never go astray, and I can't say that about other companies I have encountered.

You don't even have to by buying a house with Cle France to use Ben for your currency exchange, indeed some clients who have viewed with us may actually buy a property with another agent, sadly we can't win them all, that does not stop them still using Ben and FC Exchange to get the best deal on for their money.

So hopefully I have given you a bit more detail, and feel free to give Ben the chance to at least give you a no obligation quote, but of course I stress again, you can of course use whomsoever you wish.

Thanks, Sharon Evans - Director of Cle France Ltd.

Current rates:

Friday 3rd March 2017 at 17:30

£1.00 GBP = 1.1606 EURO

£1.00 GBP = 1.2249 USD

£1.00 GBP = 1.6198 AUD

£1.00 GBP = 1.7464 NZD

£1.00 GBP = 1.6426 CAD

£1.00 GBP = 16.0514 ZAR

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.