In the world we live in today, terrible things can happen like the terror attack in Manchester, when the most important things to focus on are innocent lives. With the modern world these events also have an effect on many other things including the value of financial assets. Since 9/11 when global markets were shaken to the core, terror events have had a smaller impact, but there are still consequences.
Coming at a time, with two weeks to go until a UK General Election and Brexit negotiations looming, these events have really unsettled the Pound. When the General Election was announced the Pound gained in value, assuming a large Conservative majority, but recently opinion polls have shown a dwindling lead. As results come in on the morning of the 9th June, we will probably see large swings in the value of the Pound. With wars of words going back and forth between the UK and Europe it looks like Brexit negotiations are going to be very tricky. Add all this together and we are in unsettled times for the UK and therefore the currency. Uncertainty is not good for a currency.
With all the uncertainty surrounding the UK and the value of the Pound, ex-pats should use a foreign exchange specialist like Infinity International to exchange your currencies, as it means you have access to expert guidance on the markets and when to make a money transfer. The cost saving can be up to 5% compared to your bank when using a local currency specialist, because the exchange rate will give you more currency, and the currency company will organise cheaper banking fees than is normal.
For free advice in Spain please call Glenn or Adam at Infinity International on +34 966 260 777, or email us on email@example.com
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“Opinions expressed are solely my own and do not express the views or opinions of my employer.”