Currency Chatter. Deadline Deals for Brexit
Currency Chatter. Deadline Deals for Brexit
ProACT Sam says that the apparent breakthrough in withdrawal treaty negotiations can give Expats extra confidence, but that we already had certainties of the changes ahead for Expat business and individuals.
After the Brexit vote the UK GBP v EURO fell from as high as Euro 1.30 to GBP £1.00 to around Euro 1.11
As with many things in Brexit we hear constant reports of currency falling or rising.
As our report showed last year , for all the ups and down, Pound Sterling as a currency has been around 1.11 for the last two years.
What will change this ?
What affects currency? EU Brexit for Expats , a withdrawal treaty, certainty for overseas business and investors.
So this weekends news that after all the politicking , all the PR from vested interests, all the lobbying , a withdrawal treaty is suddenly agreed between the EU and UK negotiators, has an immediate impact on currency.
There is no doubt, with or without a withdrawing treaty, once a decision on EU Brexit way forward is agreed, Sterling as a currency will benefit.
Straight away we see this happening, a jump in the EURO:GBP Rate to Euro1.13 to £1.00. No surprise.
Movement
Sterling is now already strengthening because business, investors, and Expats now have more certainty.
Changes yes. There will be winners and losers because of the EU Brexit, but Sterling will recover the loses of the last two years due to Brexit uncertainty since referendum day.
Certainty
What we have always known with certainty is:
That Article 50 is an EU law that means the UK is leaving the EU. The decision to leave enacted with Article 50 cannot be undone as a legal procedure.
We know how the UK and EU 27 treat third party business and individual Expats.
An additional withdrawal treaty adds certainty to how the future will unfold between the UK and EU.
With these certainty Expat Business and Individuals can make plans now to secure they future living and working abroad.
The Currency markets now reflect this understanding better.
Change
There is change with EU Brexit for Expats, with an additional Withdrawal Treaty agreed in October 2018 we can look forward and plan ahead with more confidence.
That confidence may well see currency rise.
ProACT EU Brexit Expat Experts
Contact us for a free review on how EU Brexit for Expats will affect your
Residency
Business status
Overseas property
Asset protection of property business investments and estates.
We can offer a free review with one of our advisers Online or in Office.
Contact the EU Brexit Expat Experts.