16 Sep, 2016 @ 09:46
1 min read

The only certainty after Brexit… is uncertainty

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DIVORCE: Reach settlement but no price announced

Smart-currencyRE-UNITING with the EU has been dismissed by Prime Minister Theresa May and her government time and again.

The challenges of leaving the EU will begin to unfold with the enormous unwinding of the UK’s 40-year relationship with their European neighbours.

But now is not the time for doom and gloom.

The summer economic data from the UK was better than expected, with sterling bouncing back towards 1.20 against the euro.

May has also been rebuilding relationships with global key trading partners at the G20 summit,  where ‘smiles and promises’ were exchanged for the benefit of the  world’s media.

The political situation across the pond is equally volatile. After a sport-packed summer of football, tennis and the Olympics, it will be interesting to see if more javelins are thrown (at each) in the Trump v Clinton presidential race.

The world will be watching and expect ‘fire and brimstone’ in a plenty. The US economy has been improving in the last 18 months, and the dollar has benefited sitting at the top the Currency Table by some distance.

It will be interesting to see how the dollar reacts in November when the 44th president is named.

Meanwhile, back in Spain, the Spanish Property market has again prospered this year, despite the summer months slowing down for sales on the coast.

There are some fantastic new projects coming to the market this autumn, not just apartments, also villa communities (€450k to €1 million) in Sotogrande, Atalaya and Cancelada attracting  buyers from all over Europe and the Americas.

The banks are selling their bad stock and giving mortgages again, which bodes well for a good quarter before the end of the year.

Hopefully sterling will gain better footings, and improve its position against the US dollar and euro in the next few months.

• For the latest currency news and rates visit www.smartcurrencyexchange.com

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