Over the last two weeks, we have seen the Pound fall by around 3.5% against most major currencies, this has been due to both weak economic data, and a loss of confidence from investors as the date approaches for Theresa May to trigger Article 50.
As we get closer and closer to the event of Article 50 being triggered, the Pound has continued to lose value, and we are seeing sell-offs again as investors do not feel comfortable leaving their positions in Sterling.
Expected Article 50 announcement.
As far as this week is concerned, the main event really is Article 50, Westminster rumours were predicting the triggering of Article 50 as early as today but it looks like the PM Teresa May has delayed it until the end of March.
Many of you are probably aware that the market sentiment is that the Pound will fall in value once it has been triggered as it will signify the beginning of an uncertain period of negotiations between the EU & UK.
Though this is not a guarantee, we do feel it is important to make sure that you have hedged yourself accordingly using tools such as stop losses, limit orders and forward contracts.
Wednesday's Fed interest rate decision
The second most important event is also on Wednesday, and this will be the Fed interest rate decision. For those of you who keep an eye on the GBP/USD exchange rate, you'll know that we have fallen from 1.25 down to 1.21 in the short space of a week due to recent comments made by Fed officials, signalling that there is a big chance of an interest rate hike in March.
The expectation is that they will do a hike of 0.25% to bring their interest rate up t0 1%. We are not expecting a massive market reaction to this as it is pretty much priced in, but I will be watching to see if they signal any further hikes for this year, as this will determine the strength of the U.S Dollar moving forward.
If you have a currency purchase coming up and are concerned about the above events, please don't hesitate to contact me for further analysis.
Just to clarify, 100,000 Euros is costing £3,500 more than it did 2 weeks ago, property in France is still very much affordable when compared with the UK, USA and many other countries around the world but getting your timing right when exchanging your money is worth thinking about and planning with us.
For more information on the currency service we 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.
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:
Tuesday 14th March 2017 at 08:20
£1.00 GBP = 1.1386 EURO
£1.00 GBP = 1.2113 USD
£1.00 GBP = 1.6064 AUD
£1.00 GBP = 1.7565 NZD
£1.00 GBP = 1.6324 CAD
£1.00 GBP = 16.0068 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.
For everything you need to know about French property visit www.clefrance.co.uk
