Brexit drives pound to new high!
“As Good as it Gets” for Pound Sterling for Now, but 2020 Could see Yet Further Gains vs. Euro and Dollar
The British Pound went into reverse on Friday as foreign exchange traders booked profits on the currency’s meteoric rise in the wake of the General Election result, leaving analysts to question whether the Pound had recorded its high-water mark or whether 2019 still had some gains to offer.
The Pound-to-Euro exchange rate fell back below 1.20 to quote at 1.1940 on Friday afternoon, but the pair had been as high as 1.2080 following the release of the exit poll on Dec. 12 that confirmed the Conservatives were on course for a sizeable majority.
Make sure you get your currency organised before you start your property search in Spain
Currency exchange is often overlooked until the last possible moment, but the impact of currency exchange rates on the price of your purchase in Spain cannot be highlighted enough.
If you need to convert sterling into euro to purchase your new property, the rate of exchange that you receive when you make that transfer will directly impact the price of your property – and if you don’t agree the exchange rate in advance, you are essentially purchasing the property without knowing the total cost in sterling. This part of the process is often left until the end of the journey, even though you can save or lose a significant amount of money here – depending on the rate you achieve when you make that transfer.
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