The Government have announced that the British Prime Minister Theresa May will publish her plans for Brexit on Tuesday 17th January.
Whatever the contents it will send some shock to the financial markets and have an impact on exchange rate. Which way we do not know or more importantly for how long.
We will be keeping an eye on things and bring you any important news.
Main image by Jonathan Rolande of House Buy Fast.
Today is referred to as Super Thursday buy a lot of the British media. It is the day taht most UK retailers publish their sales figures for December and of course Christmas.
Regardless of the news it will have an impact on finance markets in the UK. With Brexit on the forefront on retailers minds it will be interesting to see what companies publish along with their figures in terms of commentary.
Good figures they will say Brexit has had no effect on consumer confidence and yet lower sales they will say the opposite.
Given the massive change is exchange rates last year its certain that even if sales figures remained the same that profits will be impacted.
The forecasts they may or may not issue with their statements will be the precedence for pricing over the coming weeks and months.
It seems as though Brexit is still causing a stir in the media and while many Brits are following the stories closely, others are in need of a break. And what better way to take a break from everything that is going on, than to take a holiday and chase the winter sun. With the British pound losing ground to the US dollar, travel prices in the UK have dropped as well making it an especially good place for travellers on a budget to visit. That doesn’t mean that you have to put off your holiday plans until the pound regains ground. In fact, post-Brexit UK travel is stronger than ever and may be even more tempting.
Many holiday destinations in the UK and Europe have become more affordable in an effort to attract more foreign tourists and Brits can take advantage of these savings. You may have to create your own travel itinerary, but if you are willing to do the research, you can save hundreds on your next holiday. These bargains won’t last long as the British pounds grows stronger, and when it does, you will still have an opportunity to save on your holiday plans.
With cheaper travel rates to the UK, you might find local destination spots becoming more and more crowded. This is the perfect opportunity for you to visit an out of the way winter sun spot that might have been overlooked by value minded travellers.
For those of you who like to visit a wide range of destinations on holiday, post-Brexit travel may pose some difficulties. Post-Brexit, it is not as easy to travel throughout Europe seeing the sites in more than one country. This is unlikely to change making European travel that much more difficult for both UK and US travellers. With free movement within Europe not being as easy as it once was, we might find many tourists settling for one or two destinations and avoiding the hassles at customs and immigration.
If you are planning an upcoming holiday and want to find the best value for your money, do you research and start creating an innovative itinerary that enables you to see and do more for less.
Since Theresa May announced the dates in her Brexit plan the pound started to drop, she said “it is not going to be plain sailing” and that sent shock waves. Everyone knew it but when someone such as the prime minister actually says it then markets start shifting.
The chart above says it all – Euro rate over the last 18 months. We’ll be gathering more information together to show in the next few days, but one thing is for certain, now is an even more important time to compare Euro rates
before you buy.
We will be keeping a close eye on what happens today.
The UK has voted to leave the EU, nobody is entirely certain of the timeline of events so far and what will happen in political terms and currency markets over the next few hours, days and weeks.
However, one thing is for certain is that there will be change. Markets have dropped and the rates against all major currencies are not what they were yesterday.
We’ll, as always be comparing rates in real-time from all of the UKs biggest and best suppliers – now more than ever comparing currency rates is important. Check out the lastest rates.