subject: U.k Currency Report-market Report! [print this page] Currency exchange remains a key factor for many expats with UK Pensions and QROPS. The complexity for Pension and QROPS and investment strategies also needs continued monitoring of exchange rates.
Continuing our daily look at factors affecting currencies allows some insight into market conditions affecting exchange rates. Cash and income timing for UK Pensions and QROPS should be considered to maximise the Pension, QROPS and investment income and benefits taken.
Sterling gained some strength against the dollar yesterday after it was announced by European officials that aid would be given to Greece soon to reduce their fiscal debt, this news seemed to reduce the concern in investors which has recently caused problems for sterling. The news for Greece helped the euro rise from the one year low it has recently hit and helped aid sterling to follow suit as it gave some reassurances that Greece can be helped on the road to recovery.
Sterling reached a day"s high of $1.5282 up from the day"s low of $1.5143 but these gains were limited as the pound still hovered around the four week low against the dollar, this was still mainly due to the constant concern over the chances of a hung parliament.
Positive housing data in the UK which showed a rise in house prices both month on month and year on year helped support the pound along with news that Asian central banks were picking up sterling allowing it to move away from the $1.5126 it hit against the dollar on
Wednesday the lowest level we have seen since late march.
There was less of a movement against the euro which traded flat on the day reaching a high of "'1.1548.
Analysts seem to still think sterling will be vulnerable over the upcoming days until the election on the 6th of May as more than ever the focus is on the latest opinion polls which still shows no one party leading by a majority. And after a report showed nearly half of voters in the UK swing seats and may still change their minds about who they vote for, it seems the outcome will remain wide open. The recent surge in popularity for the Liberal Democrats has meant if the election results in a hung parliament its uncertain which main party the Liberal Democrats may chose to form a coalition with. With the final televised debate taking place last night discussing the UK"s economy and immigration, we wait to see how the polls have been affected, there is lot is still left to play for.
Gerard Associates Ltd advises expats and people considering living abroad on the options available for Pensions, QROPS and investments in a clear format allowing all customers to make an informed choice. This with the reassurance of UK authorised and regulated advice.
