Sterling volatility continues especially following last weeks’ Bank of England’s undertones that UK ‘interest rates will rise a bit harder and faster than originally planned’.
However, with ongoing Brexit negotiations, GBP/EUR slipped back to 1.1280 from previous 1.14 high’s and opens around 1.13 this morning.
The dollar was generally strong across the board too and is trading just below 1.39 this morning, off from the 1.42+ highs of last week.
The good news here is that we have migrated over the weekend onto a new payment system which will now allow you to pre-fund your account.
This means we can hold your monies for conversion pending a target or more favourable rate, for up to 9 months or so.
It offers greater flexibility and will ultimately speed up the payment process.
However as this is automated, please ensure you quote your unique client account ID as the reference in order to avoid any delays. If you are not 100% sure of it, please contact the office.
Some of you will be aware that due to US regulations we have been restricted in the past from receiving funds directly from the States. However, we have now obtained almost 80% of the licences needed in order to overcome this hurdle. Will keep you updated in due course.
Have a great week and any questions please do not hesitate to call/email us here.