July’s currency update

The pound continues to remain under pressure, as it briefly dipped again this morning, but recovered by lunchtime. Following the weekend, sterling has come out higher against most major currencies, strengthening by 1% versus EUR and USD.
Although there is no obvious data driving the dips and subsequent recovery of the pound, it is encouraging to see that the pound is not just on the way down.

On Monday afternoon (11th July), Andrea Leadsom withdrew from the leadership race, and David Cameron announced he will step down as Prime Minister on Wednesday, handing leadership over to Theresa May. This will be followed closely by the first Bank of England meeting after the referendum on Thursday. With these two events, we could see more sterling volatility later in the week.

What next?

Call +44 (0) 20 7589 3000 (Open 7:30am – 9pm Monday 9am to 1pm Saturday to Friday UK Time)

> Open a Currency account today

> Request a call back

> Ask questions about Currency Exchange

Moneycorp are Sextant French Properties preferred currency partner and have been selected due to their great rates, great service and great solutions. These are some of the reasons they have transacted over two billion pounds for their clients.

Moneycorp has been in the business of moving money between countries and currencies for over 30 years and offers money-saving foreign exchange to customers ranging from blue-chip businesses to private individuals. We make money transfers simple and help you to manage foreign exchange rate movements.

Moneycorp 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 French property purchase.

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This entry was posted on Monday, July 11th, 2016 at 8:02 pm and is filed under Currency exchange, Finance, Money transfer . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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