Latest Foreign Currency Exchange News
For Immediate Release - July 11th, 2008
Good news for the Dollar rate?
The Sterling to Dollar rate enjoyed some popularity last month, reaching £1=$1.9942 on June 30th. This is good news for UK residents and brings some much needed positivity for the property market in America. But will it last?
Sterling is coming under mounting pressure due to the financial and housing crisis, mirroring the issues faced here in the US. Ben Bernanke is well on his way to improving the strength of the Dollar. He recently extended the Federal Reserve's offer of liquidity to non-bank Wall Street firms beyond the original December cutoff date. Bernanke's announcement, in combination with the timely reduction in oil prices, helped to quell the nervousness about the financial sector, and this is generally seen as good news for the Dollar.
What can you do?
You need to take advantage of the exchange rate now, before the rate moves against you. Even if you do not need to transfer funds at this time, Moneycorp offers a Forward Contract that enables clients to lock in today's rate and take delivery of funds at some point in the future; this can be up to two years in advance! Remember, Moneycorp offer the best rates of exchange with all of their services.
The Guardian*, a leading UK publication, has just reported that the High Street banks are charging up to 7% on the exchange! Contact us today so we can put you in touch with the experts at Moneycorp to ensure you get the best rate and have protection against adverse currency fluctuations. Call us on 01252-761419.
*Buying Property Overseas
Sally Hamilton, The Guardian, June 19, 2008
For Immediate Release - May 30th, 2008
Don’t miss your best opportunity to invest in the United States
We are all aware that now is the time to buy real estate or a business in America. House prices and interest rates are at an all time low, and when also factoring in the current strength of Sterling to the US Dollar, an unmatchable window of opportunity presents itself to you.
This window, however, is not expected to last as Sterling has continually been under tremendous pressure in recent months. The winning combination of low interest rates, low prices and favorable exchange rates may soon be a thing of the past.
What is causing the weakness?
The economic slowdown which has been present in the US has now made its way to the British market. The Bank of England is gradually lowering interest rates as inflationary pressures subside, and UK headlines are reporting that "the currency crunch" is being coupled with the "the credit crunch".
Major exchange rate movements, like Sterling's movements over the last seven months, have a tendency to lose momentum. Whether or not Sterling's downtrend has reached the bottom is not obvious. The International Monetary Fund (IMF) is expecting the UK economy to grow more rapidly than that in the Euro zone over the next two years. This means that when the indicators do become clearer with respect to Sterling's future, it could mean that the Euro, among other currencies, may weaken.
How to ensure these factors will not affect you
We can help you remove uncertainty regarding your foreign currency transfer by purchasing your currency for forward settlement. With only a ten percent deposit, you can fix today's exchange rate for up to the next two years.
Our preferred partners, Moneycorp can help you manage currency risk in these turbulent times, ensuring that Sterling's further downward movement will not affect your decision to buy US Dollars.
Don't miss this opportunity to act now before it’s too late, call us today for more information. 01252-761419.
