This morning sterling has rallied to a fresh post Brexit high of 1.4120. It has come back a little to settle in the high 1.40s but still a significant move. We have now seen the pound rally nearly 4.5% in just over a week, this makes a huge difference when transferring a significant sum of money.
To highlight this on a £300k money exchange over the last 10 days would have secured anywhere from $404k to $423k – a huge difference of $19k. This shows how important it can be to make sure you are kept up to date with market trends to try and maximise your exchange and limit your exposure to adverse market movement. As the pound has now rallied against the dollar for the best part of 10 days I would urge caution for any USD buyers as I do feel we could easily see a short term correction.
It is not just against the dollar that he pound has seen some success as we are also close to a two month high against the Euro creating some great opportunities for Euro buyers. Should you need to make an international money transfer and you would like assistance in getting the best exchange rate then please get in touch. Alternatively please email for a live quote.