The global market continues to keep investors on the edge of their seat with so much uncertainty still surrounding the events in Europe and more importantly Greece. It remains unclear on whether Greece will be able to repay its spiralling debt levels or whether the rest of Europe will decide to bail out the struggling economy again. Should Greece not get the next tranche of funds it needs to continue repaying its debt, there could be catastrophic consequences. With so much money tied into the Greek debt by the majority of EU member states and also by other countries not least including the UK, means that a Greek default could culminate in major economic problems for a number of other countries. Many analysts believe that the likes of Germany cannot let Greece fail but is there enough money in Europe to keep Greece afloat? Unfortunately it does not appear even the Heads of State in Europe can answer this one!

In the UK the main focus is on whether the Bank of England (BoE) will try to help stimulate the economy by increasing the money supply through Quantitative Easing (QE). Should the BoE conduct more QE we could see more volatility in the currency market, in fact the last time the BoE introduced QE we saw Sterling weakness and as this announcement is due for Thursday 6th October it could set the tone for the rest of the month.

With so much happening in the currency markets never has it been more important to be dealing with an expert currency specialist. In fact just in September alone we witnessed movement close to 3% which is the equivalent to a saving of close to €7,000 on a £200,000 currency transfer if you traded at the high compared to the low point.

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Foreign Currency Direct plc (FCD) are Sextant Properties preferred currency partner and have been selected due to their award winning exchange rates having topped the exchange rate tables in The Sunday Times for three consecutive years. FCD also offer a number of different contract options for Sextant clients including a forward contract where you can fix a rate of exchange for a period in the future using just a small deposit, perfect to help take the risk out of the currency markets and budget for your property purchase.

If you would like to discuss your currency requirements and all the options open to you including the forward contracts please contact our preferred currency partners Foreign Currency Direct plc on 01494 725353 or email sextantproperties@currencies.co.uk