Transitional Brexit Deal: Pound Rebounds

December 14, 2016 3:00 pm Published by

The British Pound is continuing to rebound following comments made by senior politicians this week requesting that a ‘transitional Brexit deal’ would benefit the UK’s economy as we move out of the European Union.

Calls have been made for a stop-gap deal which would see the UK remain a member of the single market until a Brexit deal has been finalised.  This could take much longer than the initially expected two years following the trigger of article 50. Stephen Hammond – Chancellor of the Exchequer – said that a transitional Brexit deal was necessary to ensure that Britain does not face financial instability.gbp to euro money transfer exchange rate

If you are looking to make a money transfer of Pounds to Euros, the currency pair is at its highest point for the last three months.  As you can see from our currency chart above, the pair has been gaining momentum since November.  The uncertainty of Brexit is still looming so we are expecting the Pound to be volatile in the first quarter of 2017. If you are happy with the current exchange rate and have future currency payments, you can book a Forward to secure the rate of exchange now.

Booking a Forward to Protect your Money

You can protect your money in a volatile market by booking a Forward. When currencies fluctuate, you will be protected from market movements and will benefit from having a pre-booked exchange rate.  Rest assured that when you need to make a payment and the market moves against you, that you won’t have to pay any more for your money transfer!

Getting Started

If you haven’t signed up to the FTT money transfer service yet, it’s really easy to get started! Just click here. If you’re already an FTT customer and would like to secure a rate by booking a Forward, get in touch via email on [email protected] or by telephone on +44(0) 203 603 8940.

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This post was written by Kayleigh Driscoll

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